Update PATE treaty

The Update PATE service enables you to make adjustments to certain terms of a specified treaty. The pateId must be specified in the endpoint. All updates to treaty terms are specified in the request body.

Not every treaty attribute can be updated. Use the service to update the following treaty attributes:

  • attachPt specifies the attachment point, the amount above any deductible at which the reinsurance layer begins to take loss. The loss level is specified in the terms of a treaty between the cedant and reinsurer.
  • effectDate specifies the inception date of the treaty, the day from which losses are eligible for recovery.
  • expireDate specifies the expiration date of the treaty, the day from which a loss-occurring contract no longer takes loss and a risks-attaching contract no longer allows risks to attach.
  • numOfReinst specifies the number of reinstatements, the number of times that treaty occurrence limit (occurLimit) may be restored to its full amount after an event that led to a non-zero reinsurance payout, so that the cedant has the full limit coverage for the next event occurrence. A value of 99 indicates unlimited reinstatements.
  • occurLimit specifies the occurrence limit, the maximum amount that a treaty will pay out for all risks combined for any event.
  • pcntRiShare specifies the reinstatement premium, the percentage of the premium the insured must pay to the insurer to reinstate coverage after it has been exhausted.
  • pcntCovered specifies the percent covered, the percentage of loss greater than the attachment point (attachPt) that is covered by the treaty.
  • pcntPlaced specifies the percent placed, the percentage of a treaty’s coverage that has been accepted by participating reinsurers.
  • premium specifies the amount that the insurer or reinsurer charges to provide the coverage described in the treaty.
  • priority specifies the inuring priority of the treaty, a number that indicates the order in which treaties in a portfolio take a loss. Treaties with lower priority numbers take losses before treaties with higher priority numbers.
  • retentAmt specifies the percent retention, the percentage of the reinsurer’s share of the treaty losses that are not covered by retrocessions. Reinsurers use the retentAmt to model portfolios. The retentAmt determines the net premium that the reinsurer receives for a treaty.
  • reinstCharge specifies the reinstatement premium, the amount that the insured must pay the insurer to reinstate the coverage of the treaty once it has been exhausted.
  • treatyName specifies a secondary name for the treaty. The primary name for the treaty, the treatyId, cannot be updated.