Create PATE treaty

Adds one or more PATE treaties to the specified analysis or analysis group.

All parameters are specified in the request body. The treatyNumber, cedant, treatyType, and attachLevel attributes are required.

The cedant must be specified whenever you create a new PATE treaty. Once the treaty has been applied to an analysis post-analysis, the cedant cannot be edited. Consequently, cedant-specific losses are included for treaties edited, added, or deleted post-analysis to a multi-cedant portfolio. If you add a treaty to an analysis, the only cedants you may specify in the PATE treaty are cedants that are already specified in corresponding analysis.

The required treatyType object identifies the treaty type. You may add any portfolio-level catastrophe (CATA), corporate catastrophe (CORP), or stop loss treaty (STOP) to a set of analysis results.

  • A catastrophe treaty (CATA) is an agreement between a primary insurer (the cedant) and a reinsurer in which the primary insurer cedes part of its risk to the reinsurer. Unlike the per-risk treaties, the catastrophe treaties apply at the portfolio level.
  • A corporation treaty (CORP) insures a corporation against a large catastrophe that would impact more than one business unit. Corporate catastrophe treaties do not take loss until all catastrophe treaties have been applied; all catastrophe treaties insure to the benefit of a corporate catastrophe treaty.
  • A stop loss treaty (STOP) is a form of aggregate excess of loss reinsurance designed to cut off an insurer’s losses at a given point. A stop loss treaty protects a company in the case of multiple losses. Attachment points and limits are based on aggregate losses instead of on a single occurrence.

Once you have updated a PATE treaty or created a new PATE treaty by applying that treaty to an analysis result set, you can recalculate loss metrics based on the terms specified in PATE treaties applied to an analysis result. To learn more,see Analyze with PATE.