Terminating Contracts

The transitioning of Reinsurance Admin records into the Terminated business status is done either automatically or manually.

Automatic Termination

When the reinsurance contract has reached the End Date - as it is stored by the corresponding record, the process of transitioning is performed automatically by the FTOS_INSPA_ReinsuranceContracts scheduled job. This job verifies the stored End Date against the current date and changes the business status to Terminated.

Manual Termination

For the case when a reinsurance contract is terminated sooner than its initially agreed End Date, you need to manually trigger the Terminated business status for that specific record. This is what you need to do:

1. Follow the steps laid out in the editing page, to find the record.

2. Open the record and click Edit.

3. In the End Date field insert the new End Date.

4. Click Save&Close at the top right corner of the screen. That's it!

   NOTE  When the FTOS_INSPA_ReinsuranceContracts scheduled job makes its next run, it verifies the stored End Date against the current date and changes the business status to Terminated.