Contents: This report provides the Inception to Date (ITD) gross claim financial totals for reserves, payments and recoveries for the selected grouping as of current month end period selected. This report is used for balancing Inception to Date claim financials and can be the key report source to balance other claim reports with similar information as of the selected month end period. This summary report can also be used to balance summary totals against detail reports using the transaction activity databases. Information included on the report:
Column Heading Group: Loss
Coverage / Sub Coverage: Coverage / Sub Coverage Name
Loss Reserve: Outstanding loss reserves as of the selected month end.
Loss Paid: Loss amount paid as of the selected month for all years. Includes payments, voided payment credits and credit to loss recoveries (over payments) and credit to loss voids / offsets.
Ant Salvage: Anticipated salvage recoveries outstanding as of the selected month end and current year.
Salvage Rec: Salvage recoveries received, including any voided salvage recoveries, which were posted as of the selected month end for all years.
Ant Subro: Anticipated Subrogation recoveries outstanding as of the selected month end for all years.
Subro Rec: Subrogation recoveries received, including any voided subrogation recoveries, which were posted for all years as of the month end.
Column Heading Group: Expense
DCC / ALAE Exp Reserve: Outstanding DCC/ALAE Expense reserve as of the selected month end.
DCC/ALAE Exp Paid: DCC/ALAE expense amount paid as of the selected month for all years. Includes expense payments, voided expense payment credits, credit to expense recoveries (expense over payment recoveries) and credit to expense voids / offsets.
AO/ULAE Exp Reserve: Outstanding AO/ULAE Expense reserve as of the selected month end.
AO/ULAE Exp Paid: AO / ULAE expense amount paid as of the selected month end for all years. Includes expense payments, voided expense payment credits, credit to expense recoveries (expense over payment recoveries) and credit to expense voids / offsets.
Totals
Coverage / Subcoverage Amount Totals: Totals for each financial category / columns for all years as of the month end.
Grand Totals
All Coverage / Subcoverage Amount Totals: Grand totals for each financial category / columns for the all years as of the selected month end.
Sorts & Groups By:
Company / State / Line of Business / Coverage / Sub coverage, based on the report selection.
Who Uses Report: Claims Management and Accounting Claims Control can utilize this report to balance claim financials, Inception to Date, as of the selected month end period. Accounting can compare these totals against daily claim financials booked and totaled, Inception to Date, as of the month end period, .
When to Run Report: Monthly; preferably after End of Month Processing has completed.
Input Parameters:
Month Ending (As of): MM/YYYY
Company: (With an option for "All")
State: (With an option for "All")
Line of Business: (With an option for "All")
Coverage: (With an option for "All")
Sub Coverage: (With an option for "All")