Catbond layer
Steps to establish layers, step-layers, and treaty terms for a new catbond program (or to modify for an existing program).
Procedure
- In Program Details display the Layers tab.
-
Modify the default layer 1, or click
to add a new layer, or click 
to add
a new step layer.
-
For each layer (or step layer), select (highlight) the layer, then establish terms and
details.
Field
Default Value
Description
Layer
Assigned by application
Integer
Name
Default assigned by application
Can rename using alphanumeric.
CUSIP
Identifier issued by committee
For catastrophe bond programs only, the unique Committee on Uniform Security Identification Procedures (CUSIP) identifier for all catastrophe bonds issued in the United States and Canada
Maximum Occurrence Contribution
x
Maximum loss that this catbond treaty can incur.
Match Loss
No
Set to 'yes' to match losses to maximum occurrence contribution.
Occurrence Attachment
Blank
Value below which occurrence losses for this catbond are not assumed by the layer.
Layer
Blank
The maximum loss that can be incurred by the catbond layer across all occurrences within each year.
Aggregate Attachment
Blank
The value below which the year's total occurrence losses (otherwise recoverable) are not assumed by the catbond layer.
Multi-Year Reset Date
Blank
Feature not available.
Covered Areas
United States
Geographic areas the layer will apply to; click
to redefine the area.Parametric Triggers
All
Events, based on an event parameter and/or location, that should be considered in a catbond analysis; click
to edit these events.Investment Status
Submitted
Submitted (default), Authorized, Bound, Cancelled, Expired, Quoted, Rejected, or Renewal.
0
The principal amount associated with the catbond layer.
0
The investment amount associated with the catbond layer.
Annual Spread
0%
The coupon spread for the catbond layer over LIBOR.
Program Category 1 - 5
Program User Defined Categories (UDCs) are used to assign predefined meaningful and useful categories and classifications.
To assign a UDC, select the program row, locate the appropriate Program Category column, and then select an item from the Program Category list. Click x to clear your selection.
The default names for the program category (and corresponding column title) can be overwritten in the Administration Console.
- Below the terms, select perils to associate with this layer. Each layer can be associated with a peril.
- Establish triggers to associate with this layer.
- Associate one or more UDCs with this layer.
- Set Program Options to establish a target Exposure Set or CLF) for the program. and make other adjustments.
- For catbond programs establish additional detail in the Information tab.
- Use the Relationships tabs to adjust relationships between programs. This is where inuring and sourcing program relationships can be specified.
-
Click
to save your changes.
To delete an existing layer, select (highlight) the layer then click 
.