Inuring Program

Companies > [Company] > Programs

An inuring program (child) is associated with a subject reinsurance program (parent) to help reduce the amount of cedant loss, it reflects a contract that inures to the benefit of the subject program. It is created within the same company as the subject program and must follow this convention:

  • Set Treaty Status to Submitted. Only if the user is also participating in the inuring program should the program be entered with bound status.

To create an inuring program:

Procedure

  1. First note the following:

    • Subject program losses cannot be reduced below zero (0). If you inure more than 100% without limits/retentions to a subject program, the subject program losses would be zero, not negative. Serial and parallel inuring is supported.

      • Serial inuring—multiple inuring programs can inure in a defined order to a subject program.

      • Parallel inuring—each inuring program is calculated independent of the inuring benefit of other inuring programs.

  2. Create an inuring program as you would any other program.
  3. Associate the inuring program with a subject reinsurance program:
    1. Click the Relationships tab.
    2. Associate the current program with a subject program.