Rate Book screen

Field

Description

Name

A human-readable name for the rate book. You cannot edit the name of an existing rate book. When viewing a rate book, the name appears at the top of the screen and this field is hidden. This field is localizable. Required.

Code

A code for the rate book. The combination of code and edition must be unique within the specified policy line. Required.

Edition

A string to represent the edition for the rate book. The format of the edition is specific to each insurer and may contain characters and numbers, such as 1.0, 2011, ISO Circular 4138:2010. Required.

Description

A description for the rate book. This field is localizable.

Status

Set to Draft for new rate books. Set to other statuses based on rate book actions. See Rate book status and available actions.

Cascaded Lookup

Use cascaded lookup to find matching rate tables and rate routines in a hierarchical list of rate books.

If you specify a group, cascaded lookup finds the most appropriate rate book among rate books that specify the same group. If you do not specify a group, then cascaded lookup finds the most appropriate rate book in rate books with no group.

Group

Specify a group for cascaded lookup.

Last Status Change Date

Activation Date

This field is set by the system and represents the date and time of the last status change. After activation of the rate book, this represents the activation date for the rate book. The field label changes depending on the status of the rate book. See Selecting the rate book edition during policy rating for more details on the use of activation date in the rating queries.

Last Updated By

The user who last updated the rate book.

Last Updated Time

The time of the last update.

Storage

Looks at the Usage column. Values are:

• Self-contained – The rate book owns all rate tables.
• Contains References – This rate book references one or more rate tables. Referenced rate tables appear with Referencing in the Usage column on the Included Rate Tables table of the Rate Book screen.

If the rate book is in Stage status, Contains References appears after this label. Click this button to make the rate table self-contained. This change cannot be undone. See Rate book storage self-contained.

Policy Line

A drop-down list of policy lines defined in the product model. Select <applies to all> if the rate book applies to all policy lines. See Rating Management component applies to all. Required.

Underwriting Company

A drop-down list of underwriting companies defined in PolicyCenter. Select <applies to all> if the rate book applies to all underwriting companies.

Jurisdiction

A drop-down list of jurisdictions defined in PolicyCenter. Select <applies to all> if the rate book applies to all jurisdictions.

Offering

A drop-down list of offerings that depends on the policy line selected. The list includes all offerings defined in the product model for any product that includes the specified policy line. Select <applies to all> if the rate book applies to all offerings.

Policy Effective or Coverage Reference Date

The rate book’s Policy Effective or Coverage Reference Date is compared to the reference date of the coverage. The reference date of the coverage can be set to:

• The effective date of the policy term
• The date that the coverable object was added to the policy within the current policy term
• The date that the coverage was added to the policy within the current policy term

In this field you specify the range that the reference date for the coverage effective date of the policy, coverable, or coverage must fall within:

• On or After – The effective date of the policy must be equal to or greater than this date. Required.
• Before – The effective date of the policy must be less than this date.

For more information about the reference date of the coverage, see Specifying the reference date to use.

Renewal Effective Date

Specify the range that the policy renewal effective date must fall within:

• On or After – The policy, coverable, or coverage reference date must be equal to or greater than this date. Required.
• Before – The effective date of the policy must be less than this date. You cannot set this date directly. PolicyCenter sets this value to the value of Before in Policy Effective or Coverage Reference Date.