Bordereau

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Bordereau

A report made by an insurance company stating the risks to which it is exposed, but which it has reinsured. That is, the bordereau lists the risks for which the company has itself purchased insurance policies.
References in periodicals archive ?
Available from January 2014, 'Binder 360' offers risk, premium and claim bordereaux transformation services which convert non-standard bordereaux information into a variety of formats including XML and ACORD.
Binder 360' delivers a significant reduction in costs for bordereaux conversion, removes the onerous requirement to map bordereaux, and delivers significant improvements in reporting capabilities to meet stringent regulatory and compliance requirements.
Rob Myers, Director, Business Processing Services, Xchanging, added : "We are extremely pleased to announce this partnership with Watertrace, the leading provider of bordereaux transformation software.
To understand the clause's origins and meaning, picture a mid-19th century office rows of clerks with fountain pens, transcribing into lengthy bordereaux long lists of risks reinsured, premium ceded and losses paid.
Xchanging, London-based business process, procurement and technology services provider declared the establishment of its bordereaux transformation solution, Binder 360 Services , to an audience of over 130 insurance professionals.
In a joint venture between Xchanging Ins-sure Services (XIS) and Watertrace, the Binder 360 Bordereaux Transformation Service was formulated.
The service converts all non-standard bordereaux information into consistent outputs incorporating recognized industry standards including ACORD and the Lloyd s Minimum Standards.
Xchanging said the benefits of the Binder 360 Bordereaux Transformation Service include a significant reduction in cost and administration, and elimination of the need for additional mapping and cleansing of bordereaux.
Newkirk traces the origins of the E&O clause wording to the late 19th century, when underwriters sought to protect themselves from mistakes made by quill-bearing clerks on long lists of transactions called bordereaux.
MacGregor's expertise includes implementation of attendant statistical analysis, program design, market place assessment, negotiation of terms and conditions, cash management, appointment and supervision of local control adjusters, management reporting, reserve setting, claims settlement, statistical tracking, production of claims bordereaux and ongoing risk management services.