This specification provides the definition of the Reinsurance settlement message (RESETT) to be used in Electronic Data Interchange (EDI) between trading partners involved in administration, commerce and transport.
1.1 Functional definition
A reinsurance settlement message is exchanged by insurers, reinsurers, bureaux, brokers and professional reinsurance intermediaries to send all information that enables to identify, reconcile and set-off technical accounts.
1.2 Field of application
The Reinsurance settlement 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.
The RESETT message is a multi-contract message, it can refer to one or multiple RETACC(s) (Reinsurance technical account message).
It covers all classes of business and can be used in relation with both proportional and non-proportional business for both treaty and facultative agreements.
Multiple currencies are handled through a currency conversion facility, several financial settlement currencies are allowed.
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.