‘Is this a Claims Made Contract ‘is a newly introduced mandatory field that has been introduced to indicate if all Claims for the contract will be made on a Claims Made Basis. This field is now also a viewable column when looking at the Contracts Screen and is titled ‘Claims Made’.
A mandatory new field has been added into Step 4 within a Claims Questionnaire, called ‘Is this Bordereau on a Claims Made Basis’, should this be selected as ‘ Yes ‘ then the field ‘ Which column specifies the date the first notification of the claim was received?’ within Step 5 of the Questionnaire which then be set to mandatory.
In addition to this, a new Claims Schema Rule has been created, named ‘The Date Claim Made is not within the risk period’.
Insurer Team
A new field has been added to the ‘Add Insurer ‘or ‘Edit Insurer ‘UI, called ‘ Insurer Team’. If an Underwriter has not been selected for an Insurer, this will default to ‘All ‘, allowing all Insurer Teams that are available for the Division will be allowed to view the Section. If a specific team is to be selected, then only members within that team will be allowed to view the Section.
LBS Commission
A new Deduction has been added within both the Questionnaire and within a Contract Section, called ‘LBS Commission’. This will have the same functionality of other deductions however if choosing ‘Fixed Percentage ‘, this will have a default value of 2.75% which can be edited.
DE 64 (v3.5)
Scheduled and Overdue Bordereaux statuses have now been added to the Data Extract. This means that Users may report on these statuses in the same manner that they are currently reporting on the existing statuses.
The Data Warehouse database has been updated with all historical Scheduled and Overdue Bordereaux and these historical items will reflect in the first Data Extract that a User runs directly after this release.
ME42
A new categorisation has been added to the Contract Bespoke rule. This new catergorisation has been named ‘Rule Class’ and is a mandatory reference data field. Bespoke rules can be reported on at a more granular level. As this rule class will now be carried on every ‘Breach’ created. This means that Breaches can now be reported at a more granular level as well.