If you want the SICS to calculate the Deductions, the conditions must be defined. (Ref. chapter Handle Deduction Conditions.). Conditions may be equal for all Retrocessionaire Participations (RP’s) or one or more of the RP’s may have special Deduction conditions entered.
Calculate Commission # Commission, if defined, is calculated whenever you run the Retrocession Calculation order. Available calculation methods are;
None
No calculation of Commission is performed.
Original
All bookings with Entry Codes within the Entry Code Sub Category Original Commission are multiplied with the Share of the RP.
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There is a possibility in the system to capture and calculate Additonal Case Reserves (ACR) for assumed claims, giving the estimated development of headline losses. To monitor the corresponding net loss, we provide the possibility to include ACR in recovery calculation.
The calculation is on top of actual incurred loss, and is booked to the Outward Claim and distributed to the retrocessionaires according to their share.
The inward ACR / ACR expense must be booked to an inward claim linked to a Headline loss, Risk loss or single Claim (incl.
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A US Quota Share treaty is a proportional protection where claim recoveries are calculated based on individual claims or headline losses; i.e. with a claims handling similar to non proportional treaties (ex A).
The protection allocation towards a US Quota Share will NOT vary depending on assumed liability and available protection - it is always set to ceded (QS) %. Claims created on the inward business insured period will inherit the policy US Quota Share Protection.
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Protection of the cedent’s net loss for a portfolio during a specific period (typically a year).
From ground up figures are calculated by accumulating inward and outward claim bookings for the protected portfolio.
SUPI/GNPI is applied to find the correct Cover and Excess before calculating recoveries. Adjusted SUPI is used in the calculation, but if not registered; Revised SUPI is used. If none of them are registered; SUPI is used.
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