Initial Reserve Setup

The Initial Reserve Setup function allows users to add average initial reserves for coverage / sub-coverage combinations in Claims. When added, these values automatically load in the Claim Financial Spreadsheet when features are added to a claim.

Add an Initial Reserve

To access the Initial Reserve Setup screen:

• From the Company Configuration Tool Tree View, select Claims  / Initial Reserve Setup.

To add an initial reserve:

1. From the Version combo box, select the company / line of business combination the initial reserve is being set up for.

2. Click Add to return the Initial Reserve Amount screen. Fields for entry and selection include:

• Coverage: Select the coverage from the combo box.

• Sub-Coverage: Choose the corresponding sub-coverage from the combo box.

• Claim Financial Category: When selected, this automatically defaults the average reserve amount entered on the Claim Financial Spreadsheet when adding a claim feature.

• Initial Reserve Amount: Enter the dollar amount of the initial reserve; entry format whole dollars only.

• Eff Date: Enter the effective date.

• Exp Date: Enter the expiration date.

3. When done, click Save. The average initial reserve is displayed in the Grid View on the Initial Reserve Amount screen.

Edit an Initial Reserve

To edit an initial reserve:

1. From the Version combo box, select the company / line of business combination the initial reserve is being edited for.

2. Highlight and double click the initial reserve, or highlight and click Edit to return the Initial Reserve Amount screen. Fields for editing include:

• Initial Reserve Amount: Change the dollar amount of the initial reserve; entry format whole dollars only.

• Eff Date: Enter a different effective date.

• Exp Date: Enter a different expiration date.

3. When done, click Save. The average initial reserve is displayed in the Grid View on the Initial Reserve Amount screen.

Delete an Initial Reserve

To delete an initial reserve:

1. From the Version combo box, select the company / line of business combination the initial reserve is being deleted from.

2. Highlight the initial reserve and click Delete.

3. The initial reserve is deleted from Diamond.