Terms (reinsurance programs)

Field	Description	Validation Rules	Default Value
Treaty Type	One of the following treaty types: Catastrophe Excess of Loss Quota Share Surplus Share Per-Risk Excess of Loss	Required if you are creating a new record or editing an existing record.
Treaty ID	User-specified name of this treaty.	Required if you are creating a new record or editing an existing record. Must be unique within the reinsurance program. Cannot begin with a space. Can contain up to 100 characters.
Target Type	One of the following types of exposure to which this treaty applies: Portfolio Contract Location or Layer If you select Location or Layer as the target type, Touchstone automatically applies the treaty at the location level if there are no layers in the policy, and at the layer level if there are layers in the policy.	The following list summarizes the applicable target type options per treaty type: Quota Share: Contract; Location or Layer. Per-Risk Excess of Loss: Contract; Location or Layer. Surplus Share: Location or Layer. Catastrophe Excess of Loss: Portfolio. Required if the treaty type is Quota Share or Per-Risk Excess of Loss. Defaults to a value if the treaty type is Catastrophe Excess of Loss.	Portfolio (for CAT XOL)
Trigger Type	One of the following trigger type values to indicate the type of loss occurrence to which this treaty coverage applies: Losses Occuring During: Treaty coverage is applied to losses occurring between the treaty inception and expiration dates. Risks Attaching: Treaty coverage is applied to losses occurring to risks attached or incepted during the treaty period but that may have a policy expiration date beyond that of the treaty.	The following list summarizes the applicable trigger type options per treaty type: Quota Share: Losses Occurring During; Risks Attaching. Per-Risk Excess of Loss: Losses Occurring During; Risks Attaching. Surplus Share: Losses Occurring During; Risks Attaching. Catastrophe Excess of Loss: Losses Occurring During. Required if the treaty type is Quota Share, Surplus Share, or Per-Risk Excess of Loss. Defaults to a value if the treaty type is Catastrophe Excess of Loss.	Losses Occurring During (for CAT XOL)
Percent Ceded	Ceded amount as a percentage Percent Ceded is applied before aggregate and occurrence terms while Percent Placed is applied after aggregate and occurrence terms.	Required if you are creating a new record or editing an existing record. Defaults to a value. Must be a numeric value between `0` and `100`, inclusive.	100.00
Treaty Currency	Currency in which you are specifying these financial treaty terms.	Defaults to a value in the Touchstone user interface.	US Dollar (USD)
Risk Limit	Treaty limit for a single risk or layer.	Applies only to Per-Risk Excess of Loss treaties. Must be a numeric value between `0` and `99999999999999`, inclusive.
Risk Retention	Treaty retention for a single risk or per layer.	Applies only to Per-Risk Excess of Loss treaties. Must be a numeric value between `0` and `99999999999999`, inclusive.
Occurrence Limit	Maximum loss that this treaty can incur from each occurrence.	Must be a numeric value between `0` and `99999999999999`, inclusive.
Occurrence Retention	Deductible amount 1 The treaty does not assume losses below the value specified in this field.	Applies only to treaties of the Catastrophe Excess of Loss treaties. Must be a numeric value between `0` and `99999999999999`, inclusive.
Aggregate Limit	Maximum amount payable under this treaty that provides overall maximum loss limitation A treaty cannot have both an aggregate limit and a reinstatement amount that is greater than `0`.	Must be `0` if the reinstatement amount is greater than `0`. Must be a numeric value between `0` and `99999999999999`, inclusive.	0.00
Aggregate Retention	Additional monetary amount or percentage of risk that the cedant retains under this treaty.	Applies only to Catastrophe Excess of Loss treaties. Must be a numeric value between `0` and `99999999999999`, inclusive
Percent Placed	Percentage of the limit that has been placed in the reinsurance market Percent Ceded is applied before aggregate and occurrence terms while Percent Placed is applied after aggregate and occurrence terms.	Required if you are creating a new record or editing an existing record Defaults to a value. Must be a numeric value between `0` and `100`, inclusive.	100.00
Reinstatement	Maximum number of times the risk limit can be reinstated after the application of a loss amount during the coverage period You can specify a reinstatement value instead of an aggregate limit. If there are no reinstatements, the aggregate limit equals the occurrence limit. A treaty cannot have both an aggregate limit and a restatement amount that is greater than `0`. Enter `0` to represent no reinstatements or `99` to represent unlimited reinstatements.	Must be `0` if the aggregate limit is greater than 0 Applies only to Catastrophe Excess of Loss treaties Must be a numeric value between `0` and `99`, inclusive
Applies to Area	Geographic area to which the treaty applies. Define a geographic area by clicking the down arrow, specifying the desired level of regional detail in the filter widget that appears, and then clicking Close. CATXOL: The detailed loss analysis results must be saved at the LOB or appropriate geographic resolution or higher for these fields to be effective for CATXOL treaties. For example, if a CATXOL treaty includes an LOB specified in the Applies to LOB field (on the Terms tab for the treaty), but the loss results are not saved by LOB, Touchstone will ignore what is specified in the Applies to LOB field and apply the CATXOL treaty to all LOBs. Similarly, if a CATXOL treaty includes a geographic area within the Applies to Area field (on the Terms tab for the treaty), but the loss results are not saved by that particular geographic resolution, Touchstone will ignore what is specified in the Applies to Area field and apply the CATXOL treaty to all geographic areas. QS & XPR: You do not need to save by the same resolution for Quota Share and Per-Risk XOL treaties for Touchstone to apply the treaties correctly. For example you can save by Event Total and the QS and XPR treaties will apply correctly to what is specified in the Applies to LOB and Applies to Area fields.	Applies only to Catastrophe Excess of Loss (CATXOL), Quota Share, and Per-Risk Excess of Loss (XPR) treaties.
Applies to Event	Event to which these treaty terms apply.	Applies only to Catastrophe Excess of Loss (CATXOL), Quota Share, and Per-Risk Excess of Loss (XPR) treaties.
Applies to LOB	User lines of business (LOBs) to which this treaty applies. CATXOL: Detailed loss analysis results must be saved at the LOB or appropriate geographic resolution or higher for these fields to be effective for CATXOL treaties. For example, if a CATXOL treaty includes an LOB specified in the Applies to LOB field (on the Terms tab for the treaty), but the loss results are not saved by LOB, Touchstone will ignore what is specified in the Applies to LOB field and apply the CATXOL treaty to all LOBs. Similarly, if a CATXOL treaty includes a geographic area within the Applies to Area field (on the Terms tab for the treaty), but the loss results are not saved by that particular geographic resolution, Touchstone will ignore what is specified in the Applies to Area field and apply the CATXOL treaty to all geographic areas. QS & XPR: You do not need to save by the same resolution for Quota Share and Per-Risk XOL treaties for Touchstone to apply the treaties correctly. For example you can save by Event Total and the QS and XPR treaties will apply correctly to what is specified in the Applies to LOB and Applies to Area fields.	Applies only to Catastrophe Excess of Loss (CATXOL), Quota Share, and Per-Risk Excess of Loss (XPR) treaties. You can specify up to 200 lines of business for this field. To select additional lines of business, create another treaty in the same reinsurance program. Enter `None` or another non-existent value if you do not want to apply reinsurance to your exposure data. If you leave this field blank, Touchstone will apply reinsurance to all LOBs.
Insurer's Coinsurance	Insurer's coinsurance amount.	Applies only to Catastrophe Excess of Loss treaties. Required if you are creating a new record or editing an existing record. Defaults to a value. Must be a numeric value between `0` and `100`, inclusive.	100.00

Treaty Type

One of the following treaty types:

Catastrophe Excess of Loss
Quota Share
Surplus Share
Per-Risk Excess of Loss

Required if you are creating a new record or editing an existing record.

Treaty ID

User-specified name of this treaty.

Required if you are creating a new record or editing an existing record.
Must be unique within the reinsurance program.
Cannot begin with a space.
Can contain up to 100 characters.

Target Type

One of the following types of exposure to which this treaty applies:

Portfolio
Contract
Location or Layer

If you select Location or Layer as the target type, Touchstone automatically applies the treaty at the location level if there are no layers in the policy, and at the layer level if there are layers in the policy.

The following list summarizes the applicable target type options per treaty type:
- Quota Share: Contract; Location or Layer.
- Per-Risk Excess of Loss: Contract; Location or Layer.
- Surplus Share: Location or Layer.
- Catastrophe Excess of Loss: Portfolio.
Required if the treaty type is Quota Share or Per-Risk Excess of Loss.
Defaults to a value if the treaty type is Catastrophe Excess of Loss.

Portfolio (for CAT XOL)

Trigger Type

One of the following trigger type values to indicate the type of loss occurrence to which this treaty coverage applies:

Losses Occuring During: Treaty coverage is applied to losses occurring between the treaty inception and expiration dates.
Risks Attaching: Treaty coverage is applied to losses occurring to risks attached or incepted during the treaty period but that may have a policy expiration date beyond that of the treaty.

The following list summarizes the applicable trigger type options per treaty type:
- Quota Share: Losses Occurring During; Risks Attaching.
- Per-Risk Excess of Loss: Losses Occurring During; Risks Attaching.
- Surplus Share: Losses Occurring During; Risks Attaching.
- Catastrophe Excess of Loss: Losses Occurring During.
Required if the treaty type is Quota Share, Surplus Share, or Per-Risk Excess of Loss.
Defaults to a value if the treaty type is Catastrophe Excess of Loss.

Losses Occurring During (for CAT XOL)

Percent Ceded

Ceded amount as a percentage

Percent Ceded is applied before aggregate and occurrence terms while Percent Placed is applied after aggregate and occurrence terms.

Required if you are creating a new record or editing an existing record.
Defaults to a value.
Must be a numeric value between 0 and 100, inclusive.

100.00

Treaty Currency

Currency in which you are specifying these financial treaty terms.

Defaults to a value in the Touchstone user interface.

US Dollar (USD)

Risk Limit

Treaty limit for a single risk or layer.

Applies only to Per-Risk Excess of Loss treaties.
Must be a numeric value between 0 and 99999999999999, inclusive.

Risk Retention

Treaty retention for a single risk or per layer.

Applies only to Per-Risk Excess of Loss treaties.
Must be a numeric value between 0 and 99999999999999, inclusive.

Occurrence Limit

Maximum loss that this treaty can incur from each occurrence.

Must be a numeric value between 0 and 99999999999999, inclusive.

Occurrence Retention

Deductible amount 1

The treaty does not assume losses below the value specified in this field.

Applies only to treaties of the Catastrophe Excess of Loss treaties.
Must be a numeric value between 0 and 99999999999999, inclusive.

Aggregate Limit

Maximum amount payable under this treaty that provides overall maximum loss limitation

A treaty cannot have both an aggregate limit and a reinstatement amount that is greater than 0.

Must be 0 if the reinstatement amount is greater than 0.
Must be a numeric value between 0 and 99999999999999, inclusive.

0.00

Aggregate Retention

Additional monetary amount or percentage of risk that the cedant retains under this treaty.

Applies only to Catastrophe Excess of Loss treaties.
Must be a numeric value between 0 and 99999999999999, inclusive

Percent Placed

Percentage of the limit that has been placed in the reinsurance market

Percent Ceded is applied before aggregate and occurrence terms while Percent Placed is applied after aggregate and occurrence terms.

Required if you are creating a new record or editing an existing record
Defaults to a value.
Must be a numeric value between 0 and 100, inclusive.

100.00

Reinstatement

Maximum number of times the risk limit can be reinstated after the application of a loss amount during the coverage period

You can specify a reinstatement value instead of an aggregate limit. If there are no reinstatements, the aggregate limit equals the occurrence limit. A treaty cannot have both an aggregate limit and a restatement amount that is greater than 0.

Enter 0 to represent no reinstatements or 99 to represent unlimited reinstatements.

Must be 0 if the aggregate limit is greater than 0
Applies only to Catastrophe Excess of Loss treaties
Must be a numeric value between 0 and 99, inclusive

Applies to Area

Geographic area to which the treaty applies.

Define a geographic area by clicking the down arrow, specifying the desired level of regional detail in the filter widget that appears, and then clicking Close.

CATXOL: The detailed loss analysis results must be saved at the LOB or appropriate geographic resolution or higher for these fields to be effective for CATXOL treaties. For example, if a CATXOL treaty includes an LOB specified in the Applies to LOB field (on the Terms tab for the treaty), but the loss results are not saved by LOB, Touchstone will ignore what is specified in the Applies to LOB field and apply the CATXOL treaty to all LOBs. Similarly, if a CATXOL treaty includes a geographic area within the Applies to Area field (on the Terms tab for the treaty), but the loss results are not saved by that particular geographic resolution, Touchstone will ignore what is specified in the Applies to Area field and apply the CATXOL treaty to all geographic areas.
QS & XPR: You do not need to save by the same resolution for Quota Share and Per-Risk XOL treaties for Touchstone to apply the treaties correctly. For example you can save by Event Total and the QS and XPR treaties will apply correctly to what is specified in the Applies to LOB and Applies to Area fields.

Applies only to Catastrophe Excess of Loss (CATXOL), Quota Share, and Per-Risk Excess of Loss (XPR) treaties.

Applies to Event

Event to which these treaty terms apply.

Applies only to Catastrophe Excess of Loss (CATXOL), Quota Share, and Per-Risk Excess of Loss (XPR) treaties.

Applies to LOB

User lines of business (LOBs) to which this treaty applies.

CATXOL: Detailed loss analysis results must be saved at the LOB or appropriate geographic resolution or higher for these fields to be effective for CATXOL treaties. For example, if a CATXOL treaty includes an LOB specified in the Applies to LOB field (on the Terms tab for the treaty), but the loss results are not saved by LOB, Touchstone will ignore what is specified in the Applies to LOB field and apply the CATXOL treaty to all LOBs. Similarly, if a CATXOL treaty includes a geographic area within the Applies to Area field (on the Terms tab for the treaty), but the loss results are not saved by that particular geographic resolution, Touchstone will ignore what is specified in the Applies to Area field and apply the CATXOL treaty to all geographic areas.
QS & XPR: You do not need to save by the same resolution for Quota Share and Per-Risk XOL treaties for Touchstone to apply the treaties correctly. For example you can save by Event Total and the QS and XPR treaties will apply correctly to what is specified in the Applies to LOB and Applies to Area fields.

Applies only to Catastrophe Excess of Loss (CATXOL), Quota Share, and Per-Risk Excess of Loss (XPR) treaties.
You can specify up to 200 lines of business for this field. To select additional lines of business, create another treaty in the same reinsurance program.
Enter None or another non-existent value if you do not want to apply reinsurance to your exposure data. If you leave this field blank, Touchstone will apply reinsurance to all LOBs.

Insurer's Coinsurance

Insurer's coinsurance amount.

Applies only to Catastrophe Excess of Loss treaties.
Required if you are creating a new record or editing an existing record.
Defaults to a value.
Must be a numeric value between 0 and 100, inclusive.

100.00