In personal auto claims, you can set the amount for expected recoveries. Expected recoveries are configurable and can consist of Reinsurance, Subrogation, and Salvage.
To set the expected recovery, access the desired exposure, navigate to the exposure file’s Accounting screen, and then:
- Select Recovery.
- In the Actions column of the Exposure Accounting Summary, select Edit Expected Recovery. The Edit Expected Recovery dialog box will open.
- In the New Expected Recovery box, type the amount of the expected recovery. The Change By box will automatically update to display the amount of change in reserve. Similarly, in the Change By box, you can type the amount you’re changing the expected recovery by. The New Expected Recovery box will automatically update to display the amount of the new expected recovery based on the amount it was changed by.
- In the Comments box, type any comments about the reserve. This is a required field.
- Select Save.