5
- 574d Code 574d is the contracted form of the Italian Circular Law on the subject of “Provisions on Matters of Passive Reinsurance.”Issued by IVASS on December 23, 2005 and abandoned at the end of(...)
a
- AAL AAL is the anacronym for Annual Aggregate Limit; in a Non-Proportional Treaty it represents the maximum monetary amount of the claims ceding capacity for a specific Layer.Each claim payment(...)
- Absolute Share In XLayers, when referring to the term Absolute Share, it refers to the percentage of Reinsurer (and possible Broker) participation in a Treaty or Facultative Agreement defined in relation to(...)
- Accounting Allocation In XLayers the accounting allocation or accounting distribution represents the grid of information that constitutes the detail of the dimensions present in the reporting module and defines its(...)
- Accounting Distribution In XLayers, the Accounting Distribution or allocation represents the grid of information which constitutes the detail of the dimensions present in the reporting module and defines its level of(...)
- Accumulation Accumulation is the possibility of assigning a single accumulation / event coding to one or more individual claims of different policies that can be managed in the reinsurance field as a single(...)
- Additional Technical Account Version The term refers to a Technical Account (original) representing a Technical account in all respects which adopts all characteristics of the original Technical Account to which it refers but with(...)
- Aggregate Account The Aggregate Account represents an XLayers data structure serving as a deposit for the Technical Accounts of one or more varied Agreements.An Aggregate Account can therefore refer to an(...)
- Agreement In XLayers the term Agreement refers to a generic Reinsurance contract whether it be Treaty or Facultative.Often in insurance terms the term contract is used as the insurance policy while in(...)
- Annual Aggregate Limit In a Non-Proportional Treaty, an aggregate limit represents the maximum amount from claims which can be ceded before reaching the cap set for a specific layer.Each claim payment ceded on a(...)
b
- Bordereaux Bordereaux (or Bordereau) is a term deriving from the French. It is sometimes translated into Italian as Borderò despite being little used. In Reinsurance, it is typically a report prepared by(...)
- Branch The term “Insurance Branch” indicates a family of risks with similar characteristics. It also identifies a group of policies with a common objective: on the one hand, providing economic support(...)
- Browser In computer science, the web browser (or more simply browser) is an application for the acquisition, presentation and resource navigation on the web. These resources (such as web pages, images(...)
c
- Calculations In XLayers, when we use the term calculators or reporting calculations, we often refer to the calculation operations carried out at the individual technical account level. These calculations(...)
- Calculators In XLayers, when we use the term calculators or reporting calculations, we often refer to the calculation operations carried out at the individual technical account level. These calculations(...)
- Ceding Company Retention It represents a particular condition of a Participant (typically fictitious) or of an Agreement which determines that the amount ceded to the Participant or to the Agreement is not really(...)
- Clean Cut It represents the practice of transferring the Premium and Claims portfolio of a Reinsurance Agreement from one year to the next. From a certain point of view, it defines the closure of an(...)
- Cut off The termination of a Reinsurance Agreement that establishes that the Reinsurer will not be liable for losses arising from events that occur after the termination date or after an agreed date(...)
d
- Download It is the act or instance of transferring a document, file or IT resource from one location (a remote computer or cloud) to another computer.
e
- Event It represents an event that involves one or more individual claims from different policies that can be managed in the Reinsurance Sector as a single claim that “adds” or “accumulates” the(...)
- External Code In XLayers, when referring to the external code (or external coding), the program is referring to a code the user can choose independently for referring to an entity (e.g. Reinsurer, Broker(...)
f
- Facultative Agreement A Facultative Agreement is a particular Reinsurance Agreement that typically covers a specific risk (usually a single policy/section).It is used to cover special risks not covered by the(...)
- Facultative Agreements Facultative Agreements are a particular Reinsurance Agreements that typically cover a specific risk (usually a single policy/section).They are used to cover special risks not covered by the(...)
- Financial Account In XLayers, the Financial Account is a structure or deposit of reporting balances defined by the following main coordinates: • Ceding Company• Reinsurer• Broker• Type of Financial Account•(...)
- Financial Accounts In XLayers, the Financial Account are structures or deposits of reporting balances defined by the following main coordinates: Ceding Company Reinsurer Broker Type of Financial(...)
g
- GDPR The General Data Protection Regulation, Official Regulation (EU) n. 2016/679 which is better known in the abbreviated form in English as RGPD, is a European Union regulation on the processing(...)
- Gen. Ledger Gen. Ledger in an anacronym for the General Ledger.
- GNPI GNPI is an acronym for Gross Net Premium Income and is also known as Gross Net Written Premium Income (GNWPI), it represents premium income gross of one year’s reinsurance (validity period) of(...)
h
- Horizontal Cover It is the overall annual layer capacity. In a Non-Proportional Treaty Agreement, it represents the ceded claims maximum amount (capacity) for a specific Layer.When there are reinstatements(...)
i
- IBAN IBAN is a code used in transactions between different bank accounts. It contains the country identification, the bank and the bank account number. It can be used for both domestic and(...)
- IVASS The Institute for Insurance Supervision, known as IVASS, is an independent administrative authority that supervises the Italian Insurance market, to guarantee its stability and protect the(...)
m
- Master Agreement A template Master Agreement or Master Agreement for is a fictitious structure, which has no effect in the calculations and procedures of the program but forms basic information that will be(...)
- Master Template A template Master Agreement or Master Agreement for a Facultative Agreement is a fictitious structure which has no effect in the calculations and procedures of the program but forms the basic(...)
- Motor Own Damage (OD) Motor Own Damage (OD), is additional insurance cover which is optional for Motor TPL (Third Party Liability). Also known as CASCO, this insurance offers coverage against damages caused by(...)
p
- Paired Association A Paired Association is an association that is required between a Reinsurer and a Broker. The function, which is activated through an optional XLayers parameter, compels the user to choose from(...)
- Paired Associations Paired Associations are associations required between a Reinsurer and a Broker. The function, which can be activated through an optional XLayers parameter, compels the user to choose from the(...)
- Premiums In XLayers, it represents a manual Premium operation inserted directly onto a Validity Period of a Proportional Treaty Agreement. It is typically used when the Company does not feed XLayers(...)
q
- Qualifier A Qualifier in XLayers is an additional discriminant that can be used to further customize a Reinsurance Plan.Two Reinsurance plans could have the same coverage information (Reinsurance(...)
- Qualifiers Qualifiers in XLayers are additional discriminants that can be used to further customize a Reinsurance Plan.Two Reinsurance plans could have the same coverage information (Reinsurance(...)
r
- Rating A Rating is an evaluation of something, in terms of quality, quantity or a combination of both.
- Ratings Ratings are evaluations of something, in terms of quality, quantity or a combination of both.
- Reclassification XLayers refers to the mapping between information from portfolio systems typically defined by information regarding Branch, Product, Risk and Guarantee with reinsurance coordinates. This(...)
- Regulatory Branches Regulatory Branches are a list of Branches according to Regulator codifications, it is often used for the closure of the Company’s Balance Sheet.
- Reinsurance Branch The Reinsurance Branch in XLayers is a structure customizable by users that defines Risk Categories in the Reinsurance field.Users can define Categories or Reinsurance Branches that group or(...)
- Reinsurance Branches Reinsurance Branches in XLayers are structures customizable by users that defines Risk Categories in the Reinsurance field.Users can define Categories or Reinsurance Branches that group or(...)
- Reinsurance Plan In XLayers, the Reinsurance Plan is the structure dedicated to the management of how the technical cession of Premiums/Claims information (and the related reserves) coming from the portfolio(...)
- Reinsurance Plans In XLayers, Reinsurance Plans are the structures dedicated to the management of how the technical cession of Premiums/Claims information (and the related reserves) coming from the portfolio(...)
- Relative Share In XLayers when referring to the term Relative Share (or ceded quota), the system is referring to the Reinsurer Participation Percentage (and possible Broker) in a Treaty or Facultative(...)
- Right to be Forgotten The term “Right to be Forgotten” is also known as “Right to Erasure” and means, in law, a particular form of guarantee which provides for the non-diffusion of information that can constitute a(...)
s
- Sequence In XLayers the Agreement sequence is a structure that connects multiple Agreements as if they were one, creating a natural continuation from one to the other. It is used in situations where(...)
- Sequences In XLayers the Agreement sequences are structures that connects multiple Agreements as if they were one, creating a natural continuation from one to the other. They are used in situations where(...)
- Solvency II Solvency II (officially Directive 2009/138 / EC) is a European Union directive which aims to extend the Base II legislation to the Insurance sector. More information on(...)
- SQL In computing, SQL (Structured Query Language) is a standardized language for relational database management systems (RDBMS), designed for the following operations: create and modify database(...)
t
- Technical Account In XLayers, the Technical Account is a structure or deposit of reporting operations defined by the following main coordinates: Ceding Company Year of the Technical Account (accounting(...)
- Technical Accounts In XLayers, the Technical Accounts are structures or deposits of reporting operations defined by the following main coordinates: Ceding Company Year of the Technical Account (accounting(...)
- Technical Branch The Technical Branch or Policy Branch is a structure defined by the Company that indicates a family of risks with similar characteristics.
- Technical Branches Technical Branches or Policy Branches are structures defined by the Company that indicate a family of risks with similar characteristics.
- Tooltip In web applications or in many internet sites, the tooltip is a description that appears when the user pauses for a few seconds on an object with the mouse pointer. It often helps to(...)
u
- Unit of Account The Unit of Account is a new accounting unit introduced by the accounting principle IFRS 17. It consists of the set of Agreements belonging to the same Portfolio, with the same year of(...)
v
- Validity Period The term in XLayers usually refers to the period (span of time) of a Reinsurance Agreement within which the established rules inside an Agreement are considered valid.In Treaties, this usually(...)
w
- Warning In English, Warning means ” Flag or Notification”; therefore, a warning message is a notification sent by the program inviting the user to be advised of possible errors or incongruencies during(...)
x
- XDocs It is the XLayers Document Management add-on module that can be activated at any time from version 3.1 of XLayers.The document module can be integrated internally or interfaced with an existing(...)
- XLR-ASIF It is the add-on module to XLayers that allows the user to carry out an “as-if” simulation on the impact of previous years’ Reinsurance using the current Reinsurance rules.The simulation is(...)