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s2 Ceded reinsurance (Collection Notes (Only available if the Cat X/L…
s2 Ceded reinsurance
Collection Notes
- Only available if the Cat X/L module was purchased
- View, delete, issue or reprint a selected Collection Note depends upon its status: Paid, Outstanding, Reinstatement Premium, Reinstatement Reserve Premium.
- Standard description: transaction type (e.g. Claim Recovery), Calculated Date by the CAT XL processing. Status tells issued/not issued. Issued Date. Processing Period Date that was set up by the CAT XL processing.
- Options: ‘Issue Collect Note' to produce a hard copy (not if the brokers/business partners on the ceded treaty have been frozen); ‘Reprint Collect Note’ hard copy.
Main Menu
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- Ceded Contracts: Proportional (quota share, surplus), Non-proportional (excess of loss, stop loss)
- Facultative ceded reinsurance is entered as an integral part of inward treaty processing within treaty maintenance)
Cede Contract
Maintenance
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- Unique reference and coverage.
- Broker who placed the contract and their share.
- Date: Inception, Expiry (others).
- Limits: amounts, excess and other in specified multiple currencies. plus percentage of commissions receivable.
- Lines of Business: defines the lines of business split from the contract for accounting and statistical purposes.
- Reinstatements conditions for excess of loss contracts.
- Participants to whom a proportion of the contract has been offered.
- Signing process apportioned to percentages of participants who have accepted an offer.
- Premiums to be booked (will generate the postings in the accounting system).
- Post ceded recoveries following a claim and the setting of reserves.
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