Cover Insured Objects

Cover Insured Objects

Establish a link between an insurable object(s) and the contract which covers this object

  1. Open wanted business and navigate to the Classification tab

  2. Right mouse click and select Edit Classification from the pop-up menu

  3. From the list menu, select Insurable Objects

  4. Right mouse click and select Assign.

  5. From Find Insurable Objects, highlight wanted objects and select Transfer from the pop-up menu.
    Alternatively, if you are linking a single object to your business, you can double click on wanted object

  6. Press Save

  7. Press OK

Cover Insurable Object Features

  • Duplicate insurable objects are not allowed on the same contract.
  • Ensure record of insurable object:
    • Depending on your system set up, you might receive a warning if an insurable object will be missing on your contract.
    • Warning will only given for definite contracts.
    • If your system is set up for warning, you will also see the lead text Insurable Object and it will be ‘ready for input’.
    • Warning might depend on the following on your contract:
      • Type of Business, e.g. proportional facultative might give a warning while non-proportional treaty might not
      • Company, e.g. if your company is the reinsurer on the contract, you might receive a warning, while if another company in your corporation is the reinsurer, you might not.
      • Reporting Unit, e.g. if your contract is allocated to one department, you might receive a warning, while if to another, you might not
    • The system warns at major stages of the contract’s life cycle, e.g. at contract creation (by create, copy, place), change of status and renewal.

View Covered Objects #

Insurable objects covered by a contract can be viewed per section

  1. Open wanted contract and navigate to the structure tab
  2. Navigate to wanted section
  3. Right mouse click and select View Covered Objects from the pop-up menu.