XOL Reinstatement Premium Pro Rata Lookup
Conditional pro-rata amount-and-time XOL reinstatement premium using independently applicable exact integer fractions. Exact one-currency minor rounding nearest/ties away from zero; no implied universal treaty basis or authorization to reinstate.
Description
A reinstatement-premium calculation can combine a used-limit proportion with a time proportion under specified contract terms.
A reinstatement-premium calculation can combine a used-limit proportion with a time proportion under specified contract terms.1
Exact monetary rounding matters when the result is payable in minor currency units.
When to use XOL Reinstatement Premium Pro Rata Lookup
Use this tool to calculate or review the supplied observations under the stated rules. Establish the contract, jurisdiction, reporting basis, currency and dated evidence that apply.
How to use XOL Reinstatement Premium Pro Rata Lookup and understand its results
- Establish the contract, jurisdiction, reporting basis, currency and dated evidence that apply.
- Enter fullReinstatementPremiumMinor, usedLimitNumerator, usedLimitDenominator, remainingTimeNumerator, remainingTimeDenominator, using the field meanings and rules below, then run the tool.
- Read result.conditionalReinstatementPremiumMinor, using the output meanings and calculation rules below.
- Correct any reported input issue and run again. Before using a successful result, check the stated units, signs, reference scope and observation coverage.
| Input field | Meaning | Value type | Requirement |
|---|---|---|---|
| fullReinstatementPremiumMinor | Full reinstatement premium minor | number | Required |
| usedLimitNumerator | Used limit numerator | number | Required |
| usedLimitDenominator | Used limit denominator | number | Required |
| remainingTimeNumerator | Remaining time numerator | number | Required |
| remainingTimeDenominator | Remaining time denominator | number | Required |
Use a nonnegative safe-integer reinstatement premium in minor currency units. Both proportion denominators are integers 1..1000000000, and each numerator is an integer from zero to its denominator. Multiply all numerators and premium exactly with BigInt, divide by the product of denominators, then round to the nearest minor unit with half ties away from zero. Reject an unsafe monetary result.
premiumMinor=roundHalfAway(premiumMinorBase×usedNumerator×timeNumerator/(usedDenominator×timeDenominator)) Use the matching field units and the exact boundary, ordering and reference rules above.
| Output field | Meaning | Value type |
|---|---|---|
| result | Calculated observation or qualified reference | object |
| result.conditionalReinstatementPremiumMinor | conditional Reinstatement Premium Minor | number |
{
"input": {
"fullReinstatementPremiumMinor": 10000,
"usedLimitNumerator": 1,
"usedLimitDenominator": 2,
"remainingTimeNumerator": 1,
"remainingTimeDenominator": 4
},
"output": {
"result": {
"conditionalReinstatementPremiumMinor": 1250
}
}
}Limitations and assumptions
The contract must independently authorize this proration and define each proportion. The tool does not infer reinstatement terms, calculate tax or convert currencies.
Missing required fields, unknown fields, wrong types and violated rules return input issues. Numeric values and outputs must be finite. Extremely large composite outputs are rejected.
Alternative or Complementary methods
For a related step, use Surplus Share Lines Capacity Scaling Lookup: A surplus-share capacity convention adds a retained line to a stated number of ceded lines. For a complementary comparison, use Facultative Obligatory Automatic Placement Tradeoff Lookup: Facultative-obligatory arrangements can give the cedant placement discretion while obliging acceptance within defined treaty terms.
References
Similar or alternative tools
- Surplus Share Lines Capacity Scaling Lookup
A surplus-share capacity convention adds a retained line to a stated number of ceded lines.
- Facultative Obligatory Automatic Placement Tradeoff Lookup
Facultative-obligatory arrangements can give the cedant placement discretion while obliging acceptance within defined treaty terms.