Completing the Insurance Section

The Insurance section is used to specify which coverage types (i.e., policy years, policy tiers or the policies themselves) are relevant to the claim. This section is very flexible, but there are a few general rules that should be followed when adding insurance. First, a claim will never be covered by two different policy years. Second, when assigning insurance to a claim (shown below) or a party (Assigning Insurance to a Party), you should not use a combination of coverage types.

Prerequisites: You must have the 'Allow Insurance Entry' function enabled for your role.

To complete the insurance section:

1. Open a file.
2. Scroll to the Insurance section (or use the Contents widget) and click the Add or Modify link. The Modify Insurance dialog opens.
3. Note: The default view for the Insurance grid is by Claim. See Assigning Insurance to a Party for details on assigning insurance to a party.
3. Click the [+] to view the policy tiers and policies that are available.
4. Check the policies, tiers or year that you would like to associate with the claim.
5. Tip: While you can assign various coverage types to the claim, you should limit your selection to one coverage type, as shown.
5. Click OK. A new row is added to the grid for each coverage type that was selected.
6. Check the Exp Erode Aggregate box to include transactions recorded against the policy for use in reports.
7. If desired, switch the View from By Claim to By Party (Assigning Insurance to a Party).
8. Click Verify to view the insurance tower, which illustrates where money is available; AL-Y = Aggregate Limit Yes (i.e., Aggregate Limit still available) PCL-Y = Per Claim Limit Yes (i.e., Per Claim Limit still available).
9. (Optional) If you split transactions, click View Balance to run a Loss/Run report to see balances for the selected policies. See View Balance Report.

   Note: Once insurance is assigned, you may split transactions by claim (Completing the Transactions Section).