Reinsurance (Location Reinsurance)

  If the limit type for a location is N - No limit, you cannot specify location reinsurance for the location.
 
You can add location reinsurance from the Reinsurance tab located at the bottom of the Locations tab. To add one or more reinsurance sets, open a contract, select the Reinsurance tab, and then click Add Reinsurance Set. Touchstone adds the reinsurance set columns at the far right of the Reinsurance tab. As you scroll, you will see the identifier for each set of reinsurance: Reinsurance 1, Reinsurance 2, etc.

The following table details the validation rules for Touchstone fields related to location reinsurance:

Field

Description

Validation Rules

Default Value

Reinsurer Name

Name of the reinsurer

       Optional

       Can contain up to 60 characters

 

Reinsurance Type

One of the following reinsurance types:

       Facultative (FAC)

       Surplus Share (SS)

       Required if you are creating a new record or editing an existing record

       Defaults to a value in the Touchstone user interface

       Cannot be Surplus Share if the applicable contract has layers

       The Surplus Share treaty IDs must match the treaty IDs for any surplus share reinsurance programs in order for occurrence or aggregate limits to be applied correctly.

Facultative

Certificate ID

Certificate ID for facultative reinsurance or treaty ID for surplus share reinsurance

       Required if you are creating a new record or editing an existing record

       Cannot begin with a space or contain commas or semicolons

       Can contain up to 100 characters

 

Perils

Perils that this layer reinsurance certificate or treaty covers

 

See the list of valid peril codes.

  To specify multiple perils in a single entry within an import file, separate the corresponding peril codes with a Plus (+) symbol, such as, PWH+PES).

       At least one peril is required if you are creating a new record or editing an existing record.

       Must be a subset of the contract peril set

All perils (PAL)

Ceded Amount

Specifies the Ceded Percentage value for the reinsurance treaties or certificates. (During Import, the value is in the "Ceded Percentage" column.)

       Required if you are creating a new record or editing an existing record

       Must be greater than "0" if the reinsurance type is Facultative

       Must be a numeric value between "0" and "100", inclusive, where "1" = 100%.

100.00

Gross Limit

Gross limit, that is, the maximum amount of loss that this reinsurance treaty or certificate will cover

       Required if you are creating a new record or editing an existing record

       If the reinsurance type is Surplus Share, and you enter multiple surplus share reinsurance terms, you should treat these terms sequentially, based on the order of rows, where attachment 1 + gross limit 1 <= attachment 2 + gross limit 2 ... <= attachment n + gross limit n.

       Must be a numeric value between 0 and 999999999999999, inclusive

 

Attachment Point

Attachment point, that is, the amount of original risk above which the limit attached for this reinsurance treaty or certificate.

 

An attachment point is the loss amount at which excess reinsurance becomes operative. This term is synonymous with "retention" under an excess reinsurance contract.

       Defaults to a value in the Touchstone user interface

       Required if you are creating a new record or editing an existing record

       If the reinsurance type is Surplus Share, and you enter multiple surplus share reinsurance terms, you should treat these terms sequentially, based on the order of rows, where attachment 1 + gross limit 1 <= attachment 2 + gross limit 2 ... <= attachment n + gross limit n.

       Must be a numeric value between 0 and 999999999999999, inclusive

0

 


© 2019 AIR Worldwide. All rights reserved.

Touchstone 5.0 Updated January 17, 2019