Claim Booking Information - Transfer to Ledger

The way accounts are handled varies for the different types of business. Facultative, Direct and Non-Proportional business generally provide more extensive loss details and separate accounts for claims and premiums. Proportional treaties on the other hand are often accounted for on a regular basis, and both claim and premium items are included in these accounts. There is often a high frequency of losses, and no or few details provided. Separate details are generally provided for the major market losses so that losses can be created and recoveries, if any, be made.

There are two ways to handle these losses: Either, split the account and book the technical account, excluding the major losses, and create separate loss accounts for these items. Or, book the technical account in the regular manner, and create informational claim bookings. The informational bookings are not transferred to Business Ledger or Business Partner Ledger, but they are displayed on the Claim Ledger. They are also displayed on the Business Partner Claim List and Headline Loss and are included in Recovery Calculations.

The Claim Booking Information - Transfer to Ledger check box gives you the option to determine whether bookings are informational, and can be found on the Section Specific tab. The check box is initially set in the System Parameters (refer to System Administration Guide) or at the Claim Program level (refer to Claim Program handling), and is not available in Claim Wizards. Note that for claims linked to Master Agreements, or Insured’s Contracts the check box must be set at the “master” claim, in other words the claim on the Master Agreement itself, or the Insured’s Contract.

Edit Claim Booking Information #

You can at any time edit the Transfer to Ledger check box. The new indicator will have effect on subsequent bookings only. On the Claim Ledger each booking will indicate whether it was transferred to the ledger or not.

1. Open your claims and click the Section Specific tab.
2. Click the Edit button in the Booking Information section in the lower left part of the window. You see the Claim Booking Information window.

3. Select or clear the Transfer to Ledger check box.
4. Click OK.