Contents: This report provides the Month to Date (MTD) gross claims financial totals for reserves, payments and recoveries for the selected grouping and month end period. It can be the key report source to balance other claim reports with similar information. This summary report can be used to balance summary totals against detail reports using the transaction activity databases. Included on the report is the following information:
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 during the selected month. 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.
Salvage Rec: Salvage recoveries received, including any voided salvage recoveries, which were posted during the selected month.
Ant Subro: Anticipated Subrogation recoveries outstanding as of the selected month end.
Subro Rec: Subrogation recoveries received, including any voided subrogation recoveries which were posted during the selected month.
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 during the selected month. Includes expense payments, voided expense payment credits, credit to expense recoveries (expense overpayment 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 during the selected month. Includes expense payments, voided expense payment credits, credit to expense recoveries (expense overpayment recoveries) and credit to expense voids/offsets.
Totals
Coverage / Subcoverage Amount Totals: Totals for each financial category / columns are provided.
Grand Totals
All Coverage / Subcoverage Amount Totals: Grand totals for each financial category / columns are also provided.
Grouped & Sorted By: Company / State / Line of Business / Coverage / Subcoverage, based on the report selection.
Who Uses Report: Claims Management and Accounting Claims Control can utilize this report to balance claim financials as of the selected end of month period. Accounting can compare these totals against daily claims financials booked and totaled for the month.
When to Run Report: Monthly; preferable 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")