Maintain Protection Sequence

Some times the reinsurance agreement states a certain sequence in which it should be applied as compared to other reinsurance agreements. An excess of loss treaty may, for example, be net after all proportional protections, (which means it is a protection of the cedent’s retention). A quota shares treaty may be net after all other protections, which means both after other proportional and non-proportional agreements. SICS allows you to indicate these sequences and related information.

Indicate Business' Position in Protection Sequence #

To record at what stage in a protection sequence an agreement comes into effect:

1. Open your business and click the Limit and Premium Condition(P/L) button.
2. If required, click the Edit button.
3. On the Main Tab, select the required Cover Basis.
4. If relevant, enter a Percentage of Gross.
5. Click OK.

Categorise Business as Real Net Quota Share #

An example of a business that is part of a certain protection sequence is a so-called net quota share treaty. All figures, which are losses, premiums and deductions, for all other reinsurance agreements should be calculated and deducted before calculating figures for this treaty. Depending on the set up by your system administrator, the sequence of the net quota share treaty might be any and not only the last.

1. Open your business and click the Limit and Premium Condition (P/L) button.
2. If required, click the ‘Edit’ button.
3. On Main Tab, select ‘Net after all Protections’ in Cover Basis.
4. If relevant, enter a Percentage of Gross.
5. Select the’Original Cost Participation ‘check box.
6. Click OK

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