Reinsurance (location reinsurance)

Validation rules for Verisk Synergy Studio fields related to location reinsurance.

Note: If the limit type for a location is N - No limit, you cannot specify location reinsurance for the location.
Field Description Validation rules Default value
Reinsurer Name The name of the reinsurer.
  • Optional
  • Can contain up to 60 characters
Reinsurance Type Types of reinsurance treaties supported in the application:
  • Facultative (FAC)
  • Surplus Share (SS)
  • This field is required if you are creating a new record or editing an existing record.
  • The surplus share type is not valid if the applicable contract has layers.
  • The surplus share treaty IDs must match the treaty IDs for any surplus share reinsurance programs for occurrence or aggregate limits to be applied correctly. The Certificate ID field is used to specify treaty IDs for surplus share reinsurance.
 Facultative
Certificate ID The certificate ID for facultative reinsurance. Specify the treaty ID for surplus share reinsurance.
  • This field is required if you are creating a new record or editing an existing record.
  • Do not enter a value that begins with a space or contains commas or semicolons.
  • This field can contain up to 100 characters.
Perils The perils that this layer reinsurance certificate or treaty covers.

See topics in the peril codes section for more information.

Note: 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 Ceded amount expressed as an amount of percentage.
  • This field is required if you are creating a new record or editing an existing record.
  • The amount cannot be blank.
  • The amount must be greater than "0" if the reinsurance type is facultative.
  • The numeric value must be between "0" and "1", inclusive, where "1" = 100%.
 100.00
Gross Limit The maximum amount of loss that the reinsurance treaty or certificate will cover.
  • This field is required if you are creating a new record or editing an existing record.
  • The amount cannot be blank.
  • 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.
  • Enter a numeric value between 0 and 999999999999999, inclusive.
  • The application interprets any values that are less than or equal to 1 as percentages (e.g. 0.12 as 12%).
Attachment Point The amount of original risk above which the limit is attached for the 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.
  • This field is required if you are creating a new record or editing an existing record.
  • The amount cannot be blank.
  • If the reinsurance type is surplus share and you enter multiple surplus share reinsurance terms, 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 .
  • Enter a numeric value between 0 and 999999999999999, inclusive.
  • The application interprets any values that are less than or equal to 1 as percentages (e.g. 0.12 as 12%).
 0