Supporting information on various topics associated with Touchstone Re.
The probability (%) of a program/layer experiencing some loss.
Introduction to the Touchstone Re application.
A company is unique entity in Touchstone Re.
Companies are associated with exposure data.
A program is integral to a company and it's exposure data in Touchstone Re.
A portfolio is a group of treaties selected from across companies.
Import exposure data from external sources into Verisk databases.
Export exposure data, results, reports, and companies out of Touchstone Re.
The Loss Results pane for a company lists all loss analyses that have been executed for the company.
An analysis in Touchstone Re is a probabilistic analysis of your aggregated loss or exposure data.
Tools to manage Touchstone Re and its data.
The Administration Console enables authorized users to manage a suite of administrative tasks.
Some abbreviations used in Touchstone Re.
Status of the loss analysis which displays in the Activity Monitor:
An adjustment factor allows you to customize the data in your analysis by compensating for variations in company, program, and exposure data.
This feature allows clients to customize and adjust various parameters in catastrophe risk analysis.
A reinsurance program (AOL) where the reinsurer indemnifies the ceding company for that portion of the loss that exceeds the limit of its own retention for a given year.
Aggregate exposure is the sum of exposures by group.
The maximum loss that can be incurred by the layer across all occurrences within each year.
Aggregate loss is the loss resulting from all events that occurred during a specified period.
Aggregate Model Builder gives licensed users the flexibility to create their own custom models, and seamlessly integrate non-Verisk models into Touchstone Re.
The value below which the year's total occurrence losses (otherwise recoverable) are not assumed by the layer.
ALERT data is supplied by Verisk's ALERT™ (Verisk Loss Estimates in Real Time) online service which provides up-to-date information and loss estimates for major natural catastrophes worldwide.
The Aggregated Loss File (ALF) is a binary file that contains event-level loss data consolidated by country.
The A.M. Best premium database contains information that you can use to derive and calculate market shares.
Analyze Re is part of the Verisk family.
The annual aggregate limit specifies the maximum loss that a layer can incur for all occurrences within a 12-month period.
The annual aggregate loss is the loss resulting from all events that occurred during a 12-month period.
Aggregate loss distributed over a 12-month period.
The annual aggregate retention is a value below which the total losses for a 12-month period are not assumed by the layer.
The annual occurrence loss is the largest loss resulting from all events that occurred during a 12-month period.
Occurrence loss distributed over a 12-month period.
Applies to areas is a parameter used by the application to filter by geography.
Applies to events is a parameter used by the application to filter events.
An area is a geographic location. Areas are at a higher geographic resolution than subareas.
An assessment is a fee imposed on members of an insurance association for certain qualifying events.
Average Annual Loss (AAL) is the average loss across all simulated years in a loss analysis.
Base maps are used in the application to provide a geographic setting for your exposure data.
A binary file contains information that is only readable to a computer.
Use Select All, Copy, and Paste functions to copy many items in a grid and then paste them in an application, such as in another pane in the application or in a spreadsheet.
At Verisk, catalogs include events based on one or more models over a period of time.
A program type which involves catastrophe-linked securities contracts.
Verisk proprietary software application for the reinsurance market.
A Verisk database format that defines and stores detailed (location level) exposure data.
Clusters are a group of districts within a state in India.
Coinsurance represents the proportion of the losses to the layer that are paid by the reinsurance program.
The Column Chooser is available from a variety of panes and used to filter which columns to display.
The application display many buttons (icons) that are common to many windows, panes, and dialog boxes.
Company losses are calculated once losses are summarized for all events associated with the company.
Company loss maximum is a trigger which excludes occurrences from consideration in a loss calculation.
Company loss minimum is a trigger which excludes occurrences from consideration in a loss calculation.
Adjustment associated with portfolio analyses only.
Losses based on contract terms entered for the program being analyzed,
A core is an individual processor; the part of a computer that executes programs.
Information concerning countries commonly used in Touchstone Re.
Coverage rate indicates the percentage of company loss of that particular LOB to consider when applying financial terms.
Original name for current Relationships feature.
Country-specific zones for the uniform and detailed reporting of exposure data usually relating to natural hazards.
A CSV (comma separated file) is a simple text file that stores data.
Currency rates are established for each reinsurance program.
Damage factors are applied to catastrophe models to customize losses based on the experiences of a company.
Demand Surge is the increase in prices for labor and materials following a catastrophe, as contractors take advantage of the increase in demand for repairs and replacement construction.
A demand surge adjustment factor represents the increase in building costs caused by an excess demand for resources such as materials and labor following a major catastrophic event.
A deterministic event is an event described by user-selected values for event characteristics.
A Detailed Loss File contains area and subarea information as well as line of business information.
The Event Loss Tables (ELT) are the format used to transfer loss files from Touchstone Re to Analyze Re.
Event Mapping Files (EMF) are used to map events between versions of select U.S. models.
module.
A adjustment made to an exceedance probability (EP) curve at the program level based on user knowledge of loss experience for a particular model.
Exceedance Probability (EP) values are those values assigned to a distribution of points (e.g., year, return period, event ID).
An event characteristic is a variable that describes an aspect of an event.
An event set specifies the loss files to use for an analysis.
A simple text file generated by Verisk software, which includes information to communicate loss information between the application and the associated loss file.
A file of indexed events.
A set of probabilities and return periods that appear in loss analysis results.
Expected loss is the percentage of loss each bond/layer is expected to incur in any given year.
Expiration date is the last day on which coverage for this treaty is effective.
Adjustment factor used to modify company exposures by LOB.
Exposures are collections of data which measure of vulnerability to loss, usually expressed in dollars or units.
An Extreme Disaster Scenarios (EDS) represent unlikely, but scientifically plausible, scenarios that cannot be captured by standard stochastic modeling techniques.
A variety of factors and adjustments can be applied in Touchstone Re.
A common insurance arrangement in the reinsurance business where contracts are negotiated separately for each insurance policy.
Some areas of the user interface include tools that enable you to filter by a set of criteria.
Operators help you filter information.
Final Net Loss is total event losses net of reinstatement premiums but not the initial program premium.
FIPS are used to name states and counties in numerical format.
Vector file which can be imported into and displayed by Touchstone Re.
Raster file which can be imported into and displayed by Touchstone Re.
Gross loss includes the total event losses net the percentage established for gross participation.
Gross participation is the percentage of the losses to be assumed by the reinsurer.
Ground up loss (a.k.a. Company loss, GU) is the total loss generated before the application of any financial terms.
Verisk's Historical Catalog (HIST) includes historical events for one or more models.
Historical event sets contain simulations of historical events.
Inception date is the first day on which coverage for this treaty is effective.
LOBs to include in your program.
An Industry Exposure Database contains industry-wide data on aggregate exposures for sums insured, number of risks, and premium data by line of business and payroll.
Industrial Facility Module (IFM) identify occupancy class codes for the 400 series.
An ILF contains gross industry insurable losses for each peril type organized by event, geographic area and line of business.
An industry loss maximum is a trigger which specifies the value above which occurrences are excluded from consideration.
An industry loss minimum is a trigger which specifies the value below which occurrences are excluded from consideration.
A reinsurance program (ILW) where the reinsurer or investor purchases protection based on the total loss arising from an event to the entire insurance industry.
The portion of the losses to the layer that are retained by the cedant.
Inuring loss is the loss reduction applied to company loss after inuring programs and terms are invoked.
Inuring reinsurance programs affect the amount of risks being transferred to or from the reinsured and which contract is affected.
An investment is a resource (e.g. money, time) set aside in the expectation of some benefit in the future.
The investment amount (monetary) associated with the bond/layer.
London Interbank Offered Rate (LIBOR) is a benchmark rate that some of the world's leading banks charge each other for short-term loans.
Exposures are organized into LOBs which are specific to country and peril type.
Guidelines for loss file format.
Loss market shares are calculated by dividing a company's stochastic losses across all events by the industry insurable losses across all events (by peril, area or subarea, and LOB).
A user-specified adjustment factor that applies to the ground-up losses for a single program.
A manner in which losses are viewed.
Market share is the percentage of insurable exposure in a given region and line of business covered by an insurance or reinsurance company in terms of industry totals as defined in the ts-tsre_all/help_tsre_ref_indust-exposure-db.html.
A market trend factor is a user-specified adjustment factor that applies to the losses for a single program.
A program term associated with occurrence limit.
Insurance focussed primarily on crop-related perils and losses.
Multi-Peril Crop Insurance (MPCI) analysis for China is based on premiums for all crops.
Multi-Peril Crop Insurance (MPCI) analysis for mainland India.
The Multi-Peril Crop Insurance (MPCI) model for the U.S. is based on premiums for all crops.
Parameter to override program inception date.
Net of Pre-CAT loss is the total loss generated after the application of all reinsurance treaties, except for Catastrophe Excess of Loss (CAT XOL) treaties.
Net participation is the actual amount that the original reinsurer is liable for.
Net retained losses are losses retained by a ceding company (primary insurer) after netting out reinsurance contract losses and any associated inuring contract losses.
An occurrence limit is the maximum loss that this treaty can incur from each occurrence.
The highest possible loss for the specified period from a single event.
Occurrence retention is he value below which occurrence losses are not assumed by the layer.
A pandemic is an epidemic of infectious disease that has spread across a large region, countries, multiple continents, or even worldwide.
Participation indicates the reinsurers' share of the portfolio.
A reinsurance program (PR) which applies retention and amount of reinsurance "per risk" rather than on an aggregate or per event basis.
Percent ceded is the ceded amount as a percentage.
Percent Placed is the percentage of the treaty that has been placed with reinsurers.
Verisk identifies certain hazards that can be measured against potential or actual insured losses.
A perspective specifies the terms that should apply to the loss results.
Pradhan Mantri Fasal Bima Yojana (PMFBY) is the government sponsored crop insurance scheme for India that integrates multiple stakeholders on a single platform.
A premium type is used to view the loss results net of the reinsurance premium received for the contract.
The principal amount associated with the bond/layer.
The probability (%) of a program/layer experiencing a complete loss.
A probabilistic event is an event described by probable values for event characteristics.
The probable maximum loss (PML) is an estimate of the likelihood that a catastrophic loss will be met or exceeded within a specified time.
Program Loss Adjustments (PLA) is one feature of Verisk's ts-tsre_all/help_tsre_ref_advanced-loss-mod.html (ALM) offering.
A drag-and-drop visualization of complex reinsurance structures managed under the Relationships tab.
A reinsurance program is insurance for an insurance company.
Map projections certified for use.
A reinsurance program (QS) where the reinsurer accepts a stated percentage of each exposure written by the ceding company on a defined class of business.
Lloyd's of London maintains Realistic Disaster Scenarios (RDS) to stress test both individual syndicates and the market as a whole.
A reinstatement is the number of times a layer may be reinstated during the contract year.
Common reinsurance terms.
Risk limit is the treaty limit for a single risk or layer.
Risk retention is the value below which the total losses are not assumed by the layer.
Selection controls are used to quickly select or deselect items in a list.
A shapefile is a simple, non-topological vector format for storing the geometric location and attribute information of geographic features.
Sequential Identifier (SID) used in database implementation for unique identification of a record.
A source program (child) is associated with a subject program (parent).
The coupon spread for the bond/layer over LIBOR.
A Standard Reinsurance Agreement (SRA) for federal crop insurance is a set of contracts between the U.S. Department of Agriculture's (USDA) and private companies.
An integer value that indicates at which event during the year the layer terms are to become effective.
Status of the program or layer.
A Stochastic Catalog (STC) includes events based on one or more stochastic models over a period of time.
A stochastic model is a tool for estimating probability distributions of potential outcomes by allowing for random variation in one or more inputs over time.
Sums Insured (SI) is the maximum amount that an insurance company insurance company is obligated to cover in the event of a covered loss.
Surplus share is proportional reinsurance program(SS) in which the reinsurer assumes pro rata responsibility for uniquely defined portions of the risk.
The tail value at risk (TVAR) measures the average of all simulated losses from a percentile or return period on the loss distribution through the full "tail" of the loss distribution.
Take-up rates are the percentage of insurable properties that are actually insured.
In Touchstone Re, a target is a company loss set or an exposure set.
Treaty ID is a unique identifier provided by the user when creating a program.
Touchstone® is Verisk's risk management solution for detailed loss.
For more information on topics specific to Touchstone Re sister application, Touchstone go to the Client Portal to review the Release Documentation.
Treaty information are program details.
A common insurance arrangement in the reinsurance business.
Treaty terms are characteristics used to define a reinsurance program.
Touchstone Re reinsurance programs support a number of reinsurance treaty types.
Triggers define company and industry loss parameters and take into consideration the geographic region defined in Applies to Areas.
UDCs enable you to classify companies and programs using criteria that are meaningful and useful to you.
A user-generated Loss File (ULF) is an ASCII file.
UNC) is a standard for identifying servers, printers, and other resources in a network.
A UJF is a user-defined adjustment factor that applies to ceding company program losses.
UNICEDE files contain exposure information that is easily imported into Touchstone Re.
A control that enables you to specify the order of magnitude at which you want to view monetary figures.
Contain a suite of event types used by Verisk applications.
Warm Sea Surface Temperature (WSST) refers to long-term warming and cooling trends in the Atlantic Ocean that have been shown to affect hurricane activity, with increased activity occurring during warming trends.
