| Non-Proportional business Rebate
Conditions button | Click the Rebate Conditions button to see the Rebate Conditions window. This is where you record the No Claim Bonus and other Rebate conditions that were part of a non-proportional treaty, proportional direct or proportional facultative business. |
Maintain No Claim Bonus # By the SICS rebate conditions, you may maintain terms and conditions regarding the discount in premium that the cedent receives for making no claim.
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Index clauses are only available for non-proportional business. These conditions allow you to record how the contract is indexed and stabilised.
You can also record information about which claims and the part of the claim figure that the index should apply to. The index clause enables you to indicate that claims shall be indexed. The index clause can be recorded on the main section of the business and will be inherited to all sub sections, or it can be recorded directly on a sub section.
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| Inuring to Benefit Rules button | The Inuring to Benefit Rules button appears only on Non-Proportional Outward Cedent’s Contracts and on Proportional US Quota Share. These conditions are mandatory in order to be able to use the Non-Proportional Recovery System (explained in the Retrocession Accounting chapter)to its full extent. The links that are created to a Program Section or OCC from this condition indicate where unrecoverable losses on this Non-Proportional Outward Cedent’s Contract or US Quota Share OCC are considered for possible recovery.
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When you want to link a claim to a Headline Loss, or when you want to register a new Headline Loss, the first step would normally be to search amongst the existing Headlines. SICS allows you to use numerous extract criteria, to facilitate this search. Some possible searches are described below.
Search for Headline Loss by Identifiers, Name and Dates # Open the Find Headline Loss window from the SICS desktop.
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When the headline loss has been created, you can register additional loss information such as location, risk zone indicator, classification items, and headline loss references.
Edit Headline Loss Location and/or Risk Zone # The Headline Loss location is optional information, but when recorded all linked claims will be validated against this. The Area of Jurisdiction and Risk Zone are purely informational.
In Find Headline Loss, retrieve the Headline Loss for which you want to record or edit a location.
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