Adding or linking to a facultative agreement

A facultative agreement is placed on an individual case basis on a policy. In a policy or policy transaction, you can create a new facultative agreement.

You can also link to an existing facultative agreement created by selecting Actions > New Facultative Agreement in the Reinsurance tab. Or, the facultative agreement might have been created in an external reinsurance system. The facultative agreement attaches to one risk only. You cannot share the same facultative agreement across multiple risks. For example, you cannot attach the same facultative agreement to two different locations within the same policy.

See also

Add a new facultative agreement

Procedure

  1. Navigate to the Reinsurance screen in a policy or quoted policy transaction.
  2. Under Applicable Reinsurance, select Add Fac > Create New and select one of the facultative agreement types.
    PolicyCenter displays the Facultative screen.
  3. Enter the details of the agreement.
  4. On the Agreement Participants tab, add at least one participant. A participant is a reinsurer participating in this agreement.
  5. Click OK to create the agreement.

Link to an existing facultative agreement

Procedure

  1. Navigate to the Reinsurance screen in a policy or quoted policy transaction.
  2. Under Applicable Reinsurance, select Add Fac > Link Existing.
    PolicyCenter displays the Add Agreements screen.
  3. Enter search criteria such as Type or Status, and click Search.
  4. Select one or more facultative agreements in the Search Results and click Add.