This specification provides the definition of the Reinsurance premium message (REPREM) to be used in Electronic Data Interchange (EDI) between trading partners involved in administration, commerce and transport.
1.1 Functional definition
The Reinsurance Premium Message (REPREM) allows to support the technical entries for any premium or brokerage adjustment amount. For this purpose, it enables to render all the relevant data (mainly amounts and the way they are built up) used in the actual calculation of the adjustment, as well as the other relevant elements used in the specific formula.
1.2 Field of application
The Reinsurance premium message may be used for both national and international applications. It is based on universal practice related to administration, commerce and transport, and is not dependent on the type of business or industry.
A reinsurance technical account (catered for in the RETACC message) is only acceptable by the receiver if certain figures are supported by specific calculations, in which the sender explains how he arrived at these figures. This message caters for 3 of these specific calculations, i.e. premium adjustment (flat or retrospective - considering the past loss history for the contract), reinstatement premium (which is an additional premium to be paid by the reinsured in order to reinstate the cover granted by the reinsurer) and brokerage adjustment (triggered by a premium adjustment).
See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General Introduction, Section 1.
3. TERMS AND DEFINITIONS
3.1 Standard terms and definitions
See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General Introduction, Section 2.
4. MESSAGE DEFINITION
4.1 Data segment clarification
This section should be read in conjunction with the segment table which indicates mandatory, conditional and repeating requirements.