Recovery Calculation for Non-Prop OCC Fac with ITB Rules
Protection Program Fac
| Section | Cover | Excess | Agg Limit | ITB Rule | OCC Share |
|---|---|---|---|---|---|
| Section 1 | 5 000 000 | 0 | 5 000 000 | Reinstatement Exhausted covered by Section 2 | 100 % |
| Section 2 | 10 000 000 | 5 000 000 | 1 000 000 | Reinstatement Exhausted covered by Section 3 | 100 % |
| Section 3 | 35 000 000 | 15 000 000 | 35 000 000 | None | 100 % |
Inward claims with protection assignment and bookings:
| Claim | PA link | Retroceded % | Paid FGU | Inw. Share |
|---|---|---|---|---|
| Claim 1 | Section 1,2,3 | 100 % | 5 000 000 | 100 % |
| Claim 2 | Section 1,2,3 | 100 % | 20 000 000 | 100 % |
| Claim 3 | Section 1,2,3 | 100 % | 5 000 000 | 100 % |
Recovery Calculation:
| PP Section | Claim | Retention Paid | Recovery Paid | Paid Exhausted | Paid Through Top |
|---|---|---|---|---|---|
| Section 1 | Claim 1 | 5 000 000 | |||
| Section 1 | Claim 2 | 5 000 000 | 15 000 000 | ||
| Section 1 | Claim 3 | 5 000 000 | |||
| Section 2 | Claim 1 | 5 000 000 | |||
| Section 2 | Claim 2 | 5 000 000 | 10 000 000 | 10 000 000 | |
| Section 2 | Claim 3 | 5 000 000 | 5 000 000 | ||
| Section 3 | Claim 1 | 5 000 000 | |||
| Section 3 | Claim 2 | 15 000 000 | 5 000 000 | ||
| Section 3 | Claim 3 | 5 000 000 | 5 000 000 |
Explanation:
The special ITB Rule for Reinstatement Exhausted on Non-prop Fac OCC’s allows recovering of claims starting from zero and not the excess point.