Contract Types

Facultative. Facultative reinsurance can be proportional and non-proportional. For a facultative contract, the system records policy-specific risk description information such as detailed risk classification, and coverage details like policy number, name insured, policy deductible, etc. The coverage descriptions for facultative and treaty contracts are the same in that the user is allowed to build a list of coverage which are applicable to the contract

Treaty. Treaty (obligatory) contracts support both direct and indirect business. For a treaty contract specific risk categories can be included with risk class and use exceptions by primary or excess business, which allow the user to build a comprehensive profile of what types of risks and uses are covered under the treaty. The coverage description for facultative and treaty contracts are the same in that the user is allowed to build a list of coverage which are applicable to the contract.