Handle Special Acceptances

Underwriters may sometimes accept treaties where the policies fall outside the normal treaty terms. The reason for these so-called special acceptances can vary. The coverage may be different or larger than accepted by the normal terms of the treaty, the legal area may fall outside the scope of the normal treaty terms, etc.

Indicate that Treaty Allows Special Acceptances #

Your treaty includes a deal making special acceptances regarding cession of a particular single risk/policy generally possible. You need to mark you treaty accordingly.

1. Open your business.
2. Click the Insured Period tab.
3. Click the Menu button and select the Edit Special Acceptance option.
4. Select the Special Acceptance check box.
5. Click OK.

Maintain Special Acceptances #

Create Special Acceptance Cessions #

Add a special acceptance including a link to the covered single risk to your treaty. You need an insurable object(s) to perform this function. Refer to Handle Insurable Objects Cessions on page 9-47 on how to add these.

1. Open your business.
2. Click the Structure tab.
3. Select the section where the cession should belong. e.g. the main section.
4. From the pop-up list, select the Add Child Cession option.
5. Select the Insurable Object that you require from the drop-down list.
6. Select the Special Acceptance check box and ,if needed, a reason.
7. Click Save.

Create Special Acceptance Declaration #

Add a special acceptance to your treaty. This works in the same way as described for special acceptance cessions with the exception that no insurable object is needed to create the declaration.

View Special Acceptance #

Inspect the information regarding a specific special acceptance.

1. Open business properties of a treaty business.
2. Click the Structure tab.

Special acceptances are marked with a star * before Declaration or Cession if Long description is selected. 3. Navigate to the Special Acceptance that you want to see properties for. 4. Click the Cession or Declaration tab.

Classify Special Acceptance #

One of the reasons for handling a policy as special acceptance is that it falls outside the normal treaty terms. It is therefore possible to have a different coverage for a special acceptance than the terms defined for the rest of the treaty.

When a special acceptance cession or declaration is added to the treaty it, according to normal rules, gets the same coverage as the section it belongs to. However, as opposed to “normal” cessions and declarations, it is possible to change and or extend the coverage.

1. Select the special acceptance cession/declaration in the structure on theStructure tab.
2. Open the pop-up menu and select the Edit Classifications option.

You can now change e.g. country, main class of business, class of business etc. Add values for classification types that have not been selected on section that the special acceptance is belonging to etc. Maintain Share of Special Acceptance

For more information, refer to Maintain Shares on Sub Levels in the Handle Agreement Terms and Conditions chapter