The Excess of Loss Premium Adjustment Management module enables inward premium and risk data to be collected and presented to the outward excess of loss contracts. Premium and risk data are automatically attached to contracts according to the year of account and statistical coding. The module then calculates the total adjusted premium, the premium adjustment due, reinstatement premium adjustments, commission and profit commission. It also includes a statistical analysis of each amount.

The premium adjustment rules for a contract can be varied by the use of various methods e.g. percentage of gross or net premium income; percentage of exposed amounts; percentage of original rate on exposed amounts. A contract can have multiple methods.

It allows for premium advice notes to be printed at either broker or reinsurer level. Each note comprises a summary header sheet, the adjusted premium summary calculations, the reinstatement adjustment premium calculations and the profit commission calculations as appropriate.  Advice notes may be sent directly to a printer, or to an RTF (rich text format) file, which may then be printed by Microsoft Word.

Facilities are provided to allow individual advice notes to be suppressed to cater for instances where the due amount is too small.

Advice notes are automatically saved within a history file so that they are available for reprinting on request in the future.

Full audit trails of the total adjusted premium calculations are produced and exported into a spreadsheet.

Feedback is created for transfer to the Credit Control module as well as to external systems.