General Accident Interest Entry

To include the interests of a policy for the ‘General Accident’ line of business you need to go through the following steps:

In the Policy Information block, all fields are read-only and are automatically retrieved by the system. The fields are general information regarding the policy;
The interest Serial number is auto-generated by the system;
The Insurance Class and Policy Type are automatically displayed by the system according to the policy previously selected in the Policies page;
Enter the Interest Name;
Select the Parent Interest name. However, if you leave this field empty, then the Interest Name will be the same as the Parent;
Select the Interest Type. You can select from a list of types that were defined in the Interest Types page of the Insurance Classes sub-module;
The Latest Sum Insured will be calculated automatically after each time you update the sum insured;
The Effective Date and time will be automatically retrieved by the system according to the policy selected previously in the Policies page. You can change it if you want;
The Expiry Date and time will be automatically retrieved by the system according to the policy selected previously in the Policies page. You can change it if you want;
Enter the Est. ATO/Location which represents the sum insured per unit Accordingly, the system will calculate automatically the Est. ATO/Location in Local Currency of the company;
Enter the Number of Locations covered in the policy;
Enter the Est. Aggregate ATO of the interest;
The Exchange Rate would be given by the system along with the Est. Aggregate ATO in Local Currency of the company;
Select the Risk Occupation for this interest policy entry;
Select the Risk Category for this interest entry. You can select from a list of categories that were defined in the Risk Categories page of the Reinsurance module;
Select the Jurisdiction area;
Enter the Deductible Percentage;
The Deductible Percentage, Minimum Deductible and Maximum Deductible amounts will be retrieved by the system based on the Parent Interest or Interest Type setup. Note that you may change them if you want;
Enter any necessary notes regarding the deductions in the Deductible Notes field;
Select the Customer name. will be automatically retrieved by the system according to the policy selected previously in the Policies page;
Enter the Interest Description;
Check-in the Is Top Location checkbox if the interest is the top location for this policy entry. Note that all other remaining interests for the same policy will be set as ‘not top location’. Only one interest can be top location at a time;
In the Aggregate Liability Limit, enter in the most your insurance company will cover as a result of all occurrences during the policy term;
In the Limit per Occurrence/Location field, specify the maximum limit that will be covered for each liability per location;
Select the Profession for this Interest entry. These professions can be defined in the Codes page of the General Settings module;
The Name of Beneficiaries will be automatically retrieved by the system according to the policy selected previously in the Policies page;
Enter in the Birth Date as needed;
Enter the PML Percentage and EML Percentage;
Select the Covered Country for this policy interest entry. Note that you can add more than one covered country;
Select the Risk Location from a list of pre-defined risk locations. Note that risk locations can be defined in the Accumulation Risk page located in the Underwriting Setup sub-module;
In the Appointed field, select the name of the surveyor appointed to this policy interest. You can select the names from a list that was previously defined through the Codes page of the General Settings module;
Enter the Appointed Fees for the selected surveyor;
The Interest Premium and Interest Premium LC are initially set as zero. The amounts will change upon adding covers and calculating the premium;
Enter the Address of the appointed;
Enter any necessary Notes. Note you can enter notes in both languages of the system;
Select the Conveyance of transferring cargo, if any;
Select the Deductible From
Enter the Minimum Premium;
Enter the Employee Number;
Enter the National ID;
Click to save your work;
The next step will be to go to the Policy Covers page.

Note: Based on a preference, the Liability Limit and the Person Limit fields can be replaced by the Liability Limit Structure suggestion box predefined in the Liability Limit Structure page;

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