Note: In order to zero any of the financials, users must have the following authorities listed in the Claims Financial group:
Close ALAE / DCC Expense Reserve: This determines if a user is allowed / disallowed to close a claim, claimant or feature and leave the ALAE / DCC Expense Reserve open. (Note: The system setting, "Close Claim With Open Reserve Or Anticipated," must be set to "True" - Enabled).
Close Loss / Indemnity Reserve: Users are allowed to check the boxes of the open reserves / anticipated that they have authority for when they select the Zero Financials option on the Admin menu, or when the Zero Financials control is displayed during the close (Feature, Claimant or Claim). If they do not have the authority, the check boxes are not available to them. (Note: The system setting, "Close Claim With Open Reserve Or Anticipated," must be set to "True" - Enabled).
Close ULAE / AO Expense Reserve: Determines if a user is allowed / disallowed to close a claim, claimant or feature and leave the ULAE / AO Expense Reserve open. (Note: The system setting, "Close Claim With Open Reserve Or Anticipated," must be set to "True" - Enabled).
Close Anticipated Reinsurance Expense Recovery / Expense Recovery: Determines if a user is allowed / disallowed to close a claim, claimant or feature and leave the Anticipated Reinsurance Expense Recovery / Expense Recovery open. (Note: The system setting, "Close Claim With Open Reserve Or Anticipated," must be set to "True" - Enabled).
Close Anticipated Salvage: A user is allowed / disallowed to close a claim, claimant or feature and leave the Anticipated Salvage open. (Note: The system setting, "Close Claim With Open Reserve Or Anticipated," must be set to "True" - Enabled).
Close Anticipated Subro: This determines if a user is allowed / disallowed to close a claim, claimant or feature and leave the Anticipated Subro open. (Note: The system setting, "Close Claim With Open Reserve Or Anticipated," must be set to "True" - Enabled).
Close Anticipated Reinsurance Loss Recovery / Other Recovery: Determines if a user is allowed / disallowed to close a claim, claimant or feature and leave the Anticipated Reinsurance Loss Recover / Other Recovery open. (Note: The system setting, "Close Claim With Open Reserve Or Anticipated," must be set to "True" - Enabled).
This function allows users to zero one or more open reserve / anticipated categories at the same time but keep the claim open. When the option is selected, the system displays a pop up that the user can choose any of the open reserve / anticipated categories (e.g., Loss AO or DCC Expense, Subro, Salvage or Reinsurance Recoveries). When Ok is selected, the system then zeroes those reserves / anticipated amounts on all features. When all of the reserve / anticipated amounts are zeroed, the claim will then close if all of the close claim criteria has been met.
From the Claim / Administer drop down menu:
Click Zero Financials
Place a check next to the reserve / anticipation you wish to close: Loss, AO, DCC, Reinsurance Exp, Salvage, Subro or Reinsurance Loss.
Once a selection has been made, a Claim Summary is shown. Answer OK to the question: " The claim has the following anticipated / reserve amounts. Would you like to continue with the close?"
Select a Close Reason.
Click Save.