Claims Calculations

Understand the automatic financial calculations that are applied, depending on the answers given in the Reserves, Paid, and Totals steps of the Claims Bordereau Questionnaire

There are certain Claims financial total fields that are important in effective financial reporting. Where these fields are not provided in the Bordereau, then, where possible, Tide automatically calculates these fields using other provided fields. These fields are detailed within the Reserves, Paid, and Totals steps of the Claims Bordereau Questionnaire.

The table below sets out each field, and how Tide's automatic calculation of the field operates.

Field Calculation
Total Reserve This is completed by summing together the Indemnity - Reserve and Fees - Reserve.
Total Paid This is completed by summing together Indemnity - Paid and Fees - Paid.
Total Incurred This is completed by summing together Indemnity - Total Incurred and Fees - Total Incurred.
Indemnity (Total Incurred) This is completed by summing together Indemnity - Reserve and Indemnity - Paid.
Fees (Total Incurred) This is completed by summing together Fees - Reserve and Fees - Paid.
Fees (Reserve) This is completed by summing together Adjuster Fees - Reserve, Attorney Coverage Fees - Reserve, Defence Fees - Reserve, and Expenses Fees - Reserve.
Fees (Paid) This is completed by summing together Adjuster Fees - Paid, Attorney Coverage Fees - Paid, Defence Fees - Paid, and Expenses Fees - Paid.

Previously Paid

Previously Paid financials can be mapped in the Paid step of the questionnaire by selecting the + Previously Paid icon. Previously Paid financials can then be included in Transactional Paid financials when the first bordereau reported to a contract is mid term of a bordereau reporting period and the prior months are identified as nil bordereau. The option to include the Previously Paid values will present in the Nil bordereau screen.


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