Creates a treaty.
A per-risk treaty is an agreement between a primary insurer and a reinsurer in which the primary insurer cedes part of its risk to the reinsurer. Quota Share, Surplus Share, Working Excess, and Non-catastrophe treaties are all per-risk treaties. Per risk treaties are attached during an analysis, not post-analysis.
You can create the following treaty types:
- Catastrophe treaties are occurrence limit treaties that are not specific to any lines of business. They are cedant-specific and apply only to portfolios that have matching cedant definitions. Catastrophe treaties may be added before you run an analysis and post analysis.
- Corporate catastrophe treaties insure against a large catastrophe that would impact more than one business unit. They do not take losses until all catastrophe treaties have been applied. All catastrophe treaties, regardless of inuring priority and their placement on analyses or groups, inure to the benefit of a corporate catastrophe treaty. Corporate catastrophe treaties are not specific to lines of business, but are cedant-specific.
- Non-catastrophe treaties assist in approximating a per-risk type of reinsurance (such as Quota Share, Working Excess, Surplus Share, Facultative), but from the occurrence limit level. They are line-of-business- and cedant-specific, and they have the ability to have an inuring priority of 1 or 2 applied to them. They inure to the benefit of cat treaties. (ALM only)
- A quota share or working excess treaty takes losses automatically when the exposure level to which it applies meets the treaty’s line of business, cedant, and date criteria. That means that location or account reinsurance applies when any policy in the account meets the criteria. If a treaty has been set up at the location level, it applies to every location in a qualifying account. (DLM and HD only.)
- Stop loss treaties protect a company in the case of multiple losses. Its attachment points and limits are based on aggregate losses instead of on a single occurrence. Stop loss treaties do not take losses until all other treaties have been applied. All treaties inure to the benefit of stop loss treaties. Like catastrophe treaties, stop loss treaties are not specific to lines of business.
- Surplus share cessions take losses when the locations to which they are attached are part of an account with policies that meet the line of business, cedant, and date criteria for the treaty, or when the policies to which they are attached meet the line of business, cedant, and date criteria for the treaty. DLM and HD only.
- A Working Excess treaty takes losses automatically when the exposure level to which it applies meets the treaty’s line of business, cedant, and date criteria. That means that location or account reinsurance applies when any policy in the account meets the criteria. If a treaty has been set up at the location level, it applies to every location in a qualifying account. (DLM and HD only.)
The Catastrophe, Corporate, and Stop Loss treaty types may be applied to analysis results during post-analysis treaty editing (PATE) .
The treatyNumber, cedant, treatyType, and attachLevel attributes must be specified in the request body. The required datasource query parameter identifies an EDM datasource.
Batch Processing
Use Manage Exposures in Batch to create, update, or delete multiple exposures (portfolios, accounts, locations, policies, or treaties) in a single request.
Idemptopotent Operation
This operation supports idempotency by means of idempotency keys. To learn more, see Idempotent Requests.