Terminate 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. Follow the steps below to terminate a reinsurance contract:

1. In FintechOS Portal, go to Main Menu > Reinsurance > Reinsurance Contracts. The list of all existing reinsurance records is displayed.

   

2. Double-click a record to open it.

3. Click Edit in the form.

4. Insert a new date in the End Date field.

5. Click Save and close. 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.