Using the multiple factor rate table in a rate routine

Before you begin

For instructions on creating a multiple factor rate table, see Create rate table with multiple rate factors.

Procedure

  1. In PolicyCenter, select Administration > Rating > Rate Routines.
  2. On the Rate Routines screen, click Add to create a new rate routine.
  3. Enter the following values on the New Rate Routine screen:

    Field

    Value

    Code

    CP_MULTIPLE_FACTOR_RR

    Name

    CP with Multiple Factor

    Line of Business

    Commercial Property Line

    Parameter Set

    CP Coverage Parameter Set

    Next, you add a step that creates a variable named varMultiFactor that contains all the factors from the rate table.

  4. In the Instruction field of the first step, select New > New Variable and name it varMultiFactor.
  5. Select ← as the Op.
  6. In the Operand, select Rate Table, and select the Base Rate with Multiple Factors rate table.
  7. For Return Value, select [All].
  8. Specify New Argument Source / Value for each parameter, then click OK.

    Next, you add several steps that make up one instruction. The steps access individual factors on the multiple factors variable.

  9. Select Append > Add 10 Rows.
  10. In the Instruction field of the next step, select Base Rate.
  11. Select ← as the Op.
  12. In the Operand, select Variable > varMultiFactor [Base Rate].
  13. In the Instruction field of the next step, select IF.
  14. In the Operand, select Variable > varMultiFactor [Boolean Factor].

    Continue adding steps to the rate routine.