Properties on the cost in rate routine steps
You can choose properties on the cost in both Instruction and Operand fields. These properties are often numeric but can be of any type. For example, ProrationMethod is a typelist field that is a property on cost.
Some rate routines do not calculate properties on the cost, so those properties do not appear as choices. For more information, see Rate routines that do not calculate properties on the cost.
In an Instruction or Operand field, you can choose these properties on the cost:
- AdjustedRate – The adjusted rate.
- BaseRate – The base rate.
- Basis – The basis.
- ProrationMethod – Set the proration
method for the rate routine to Day-based
pro rata amount or Flat.
The default value is Day-based pro
rata amount. You can set the proration method in any step.
Guidewire recommends that a rate routine only set one proration method
for a given coverage.
For more information about flat-rated coverages, see Cost delegate and In rate routine, specify coverage as flat-rated.
- TermAmount – The term amount.
The properties on the cost correspond to properties
on a Cost delegate such
as BACost for business
auto costs. All Cost objects
have a Basis and ProrationMethod property. The
AdjustedRate, BaseRate, and TermAmount correspond to properties
on the Cost object. For
example, the Cost object
has ActualAdjRate, StandardAdjRate, and OverrideAdjRate properties. The
BaseRate and TermAmount have similarly named
Actual, Standard, and Override properties.
For a line that does not support overrides the AdjustedRate, BaseRate, and TermAmount correspond to the Standard amounts. In the base configuration, personal auto does not support overrides.
For a line that supports overrides, the behavior varies depending on:
- How the rating engine handles a particular type of cost
- Whether there is an override on that cost
- Whether it is doing one-pass or two-pass handling of overrides
In the base configuration, commercial property supports overrides.
For more information, see Rating overrides and What do cost data objects contain?.