Multicurrency object model

This topic describes multicurrency object models.

Multicurrency properties

The following table shows some multicurrency properties on objects.

Property	Objects	Property description
`PreferredCoverageCurrency`	`Account` `PolicyPeriod` `Coverable` Coverable delegates	The preferred currency for coverages. This is a type key to `Currency`. Some policy lines are coverables, therefore they also have this property. The Commercial Property line, CommercialPropertyLine entity provides an example.
`PreferredSettlementCurrency`	`Account` `Contact` `PolicyPeriod`	The preferred currency for settlement or billing.
`CoverageCurrency`	`Cost` `Reinsurable` `Transaction`	The coverage currency.
`SettlementCurrency`	`Cost` `Transaction` `WorkersCompLine`	The settlement currency.

Multicurrency in a policy line

This topic describes objects in a multicurrency policy line using Commercial Property as an example. PolicyCenter displays the user interface for changing the various currencies when the MultiCurrencyDisplayMode parameter is enabled.

Important: The MulticurrencyDisplayMode configuration parameter setting is semi-permanent. You can change the value of this parameter only once, from SINGLE to MULTIPLE. If you have changed the value and started the application, you must not later change it back. If you do change the value of MulticurrencyDisplayMode back to SINGLE, subsequent attempts to start the server fail.

In the base configuration, all coverages on the same coverable must have the same currency. Because of this, changing the currency on a specific coverage or clause is not exposed in the user interface. You change the currency on the coverable, and PolicyCenter propagate the currency to the coverages and clauses.

In a line of business, the coverable objects have a preferred coverage currency. You can set this property in the user interface. In the base configuration, PolicyCenter propagates the currency down to the individual clauses (coverages, exclusions, and conditions) for that coverage. In the Commercial Property line of business, the CommercialPropertyLine, CPLocation, and CPBuilding coverable objects have a PreferredCoverageCurrency property. The CommercialPropertyLine is a coverable object, although this object has no line level coverage in the base configuration.

The coverage, exclusion, and policy condition entities (Coverage, Exclusion, and PolicyCondition) include a currency property (Currency) which stores the currency for the clause. The currency property stores the legally binding currency associated with the coverage, exclusion, or policy condition. In the base configuration, PolicyCenter propagates the currency from the coverable; you can modify this behavior through configuration.

In the base configuration, the CPLocationCov and CPBuildingCov coverages have a Currency property. PolicyCenter propagates the currency from the coverable. The following diagram shows the Currency property on various entities in the commerical property line.

Both the PreferredCoverageCurrency and Currency properties have a type key to the Currency typelist. You can specify typecodes for additional currencies in this typelist.

The cost object (Cost) has a property for the actual amount (ActualAmount). This property is a MonetaryAmount type.