On the
Cost Definition Codes popup, the
Code
column includes sample cost codes defined by
Advanced Product Designer:
| Code |
Description |
| gst |
Goods and services tax |
| incomePremium |
Income replacement premium |
| ipt |
Insurance premium tax |
| premium |
General premium |
| stampDuty |
Stamp duty |
| surcharge |
Surcharge |
| tax |
Tax |
| vat |
Value-added tax |
If you are in Designer mode or above, you can add or remove cost
codes.
Rate Amount Type
In the
Cost Definition Codes popup, the
Rate Amount
Type distinguishes between premium and non-premium costs. The following table
includes each type and describes how it appears in the
Policy Premium
tab of
Quote screen:
| Rate Amount Type |
Label in Policy Premium tab of
Quote |
| Standard premium |
Standard Premium |
| Non-standard premium |
Premium |
| Tax or surcharge |
Tax or surcharge |
Debt Type
In the
Cost Definition Codes popup, the
Debt
Type specifies the charge pattern for billing. Costs with the same charge
pattern can be sent as one charge to the billing system.
You can choose from the following:
| Debt Type |
Description |
| Premium, inc. Tax |
Premium, including tax |
| Surcharge |
An additional tax or charge |
| Installment Fee |
Fee for processing premium or installments on the policy |
| Premium |
Non-standard premium |
Proration
In
Proration, you can choose from the following:
| Proration |
Description |
| Day-based pro rata amount |
Prorate the cost by number of days that the coverage is on the policy |
| Flat |
The cost is the same regardless of number of days that the coverage is on the
policy |
|
|
Overrideable
Specify whether costs using this code can be overridden. In a policy transaction, you can
do overrides on the Rating Overrides screen.
Configuring cost codes
When you select Regenerate System Table XML, the cost codes are
stored in the costcode_ext.xml system table. You can access this file
in Studio.
