API Reference

Create location cession

post
https://{host}/platform/riskdata/v1/exposures//locations//locationcessions

Creates a reinsurance cession for the specified location.

A reinsurance cession is a contract between a primary insurer (cedent) and a reinsurer that is applied to a particular risk, e.g. a single location or policy. A location cession defines the terms of agreement by which the reinsurer (a facultative reinsurer or treaty) assumes a portion of the risk for a single location.

Multiple reinsurance cessions can be applied to the same location as reinsurance layers. Each reinsurance cession is defined by a limit (layerAmount), an attachment point (excessAmount), an inuring priority (priority), and participation percentage (percentReinsurance). There is no limit to the number of reinsurance cessions that can be applied to a location, but the sum of the percentReinsurance values cannot exceed 100%.

Depending on its type (Facultative or Treaty), the location cession may cede risk to a facultative reinsurer or surplus share treaty.

Path Params
int64
required
≥ 1

ID of EDM.

int32
required
≥ 1

ID of location. Location cession is applied to this location.

Body Params
string

Name of reinsurance cession.

string
enum
required

Type of reinsurance cession. One of Facultative, None, or Treaty.

  • If Facultative, facReinsurer is required.
  • If Treaty, treaty is required.
Allowed:
facReinsurer
object

Identifies the facultative reinsurer, the entity to which the cession is made. Required if type is Facultative.

int32

Number to identify reinsurance cession layer, e.g. 1. Does not determine the order that reinsurance cessions are applied.

double
≥ 0

Total value of internal layer to which the percentage ceded is applied.

For example, if the policy is a $10M policy on which 25% of $3M excess of $7M is ceded to a facultative reinsurer, the Internal Layer Amounts would be $7M for the first layer and $3M for the second layer. Format for coding is 7000000 for the first layer, 3000000 for the second layer, etc.

double
≥ 0

Loss level at which the reinsurance layer is liable.

For example, if the policy is a $10M policy on which 25% of $3M excess of $7M is ceded to a facultative reinsurer, the Internal Layer Attachment Points would be $0 for the first layer and $7M for the second layer. These amounts should be coded as 0 and 7000000.

double
≥ 0

Percentage of the reinsurance layer being ceded to the facultative reinsurer (facReinsurer) or surplus share treaty (treaty).

Value should be specified as a percentage. For example, 25% should be coded as 25, not as 0.25; if the policy is a $10M policy on which 25% of $3M excess of $7M is ceded to a facultative reinsurer, the Percent Ceded to Reinsurer would be 0 for the first layer and 25 for the second layer. No record is necessary for the first layer because 0% is ceded to your company. Will default to 100% if you do not supply a value.

double

Maximum Any One Life Amount. Not used. Retained for legacy purposes.

int32

Inuring priority of reinsurance, i.e. the order in the cession or treaty takes loss. Priority 1 treaties take loss first. Subsequent numbers take subsequent losses.

A cession or treaty with an inuring priority of “1” inures to the benefit of a cession or treaty with an inuring priority greater than “1.” The default value for all cessions or treaties is “1.” Inuring priorities do not have to be consecutive. The policy or location reinsurance that takes loss first could be “1” and the policy or location reinsurance that takes loss next could be “50” instead of “2;” lesser priority numbers take loss before greater priority numbers.

boolean

Not used. Retained for legacy purposes.

To avoid potential issues, do not set as false unless instructed by Moody's Insurance Solutions.

treaty
object

ID of surplus share treaty. Required if type of the reinsurance cession is Treaty.

Responses

Updated 11 months ago

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Updated 11 months ago