Claim From Ground Up Handling

Claim From Ground Up Handling

General information #

The From Ground Up (FGU) functionality is specifically designed to handle claim accounting for claims that affect more than one layer, or a program of treaties. It allows you to register claim figures as they affect the cedent in the FGU Advisory (that is figures including the excess point/retentions), as well as details about Policy Deductible, Co-insurance, Reduction, and which interest calculation method that apply. The system will perform a calculation and distribution of the claim across the affected businesses, considering:

  • Claim FGU Figures and other information
  • Share, Cover/Liability and Excess and Cover Basis
  • (Alternatively Claim Limit / Share)
  • Annual Aggregate Deductible and Claim Settlement Sequence
  • Franchise Deductible
  • Cost/expense clause
  • Interest clause
  • Index Clause
  • Inuring Recovery

The FGU functionality is not enabled for proportional treaties other than quota share.

The FGU window may display a warning that manually booked claim will affect the next distribution. This warning only appears if you have a manual claim worksheet which should affect FGU Adjustments and which has an as of date which is prior or equal to the FGU Advisory’s as of date.