SERV is introducing the 2023 Regulations on Premium Calculation and a new policy concept today
The previously announced new 2023 Regulations on Premium Calculation come into force today. Find out more in the flyer or find answers to frequently asked questions. Would you like to get an idea of what your premiums might be with the new calculation method? The new 2023 premium simulator lets you calculate the potential premiums for your new applications.
In addition, we have taken a big step forward in the renewal of our IT applications and are now able to offer you the following innovations with immediate effect:
- Our policy document sets have been completely redesigned and follow the principle of “one policy per product”. This means that we will calculate and document the premium for each product individually, which gives us more flexibility to customise your export transaction. In addition, it also allows us to process all products of the same type multiple times under the same case ID.
- We have introduced a systematic structure for your case IDs and product numbers. These now consist of the case reference, the product abbreviation, a number for the quantity of products issued and the versioning, e.g. “R1B2M-FKV02/01”.
- We have also made the application portal clearer by adding a few new fields, but using the screens remains essentially unchanged.
Good to know:
- There are no changes to your existing transactions. The case ID or product number and the policies in the case of amendments requests will remain as before.
- For applications submitted by 7 p.m. on Friday evening, 7 July 2023, the previous premium regulations (PR21) shall apply. For applications in "draft" status, the new premium regulations (PR23) will apply from 8 July.
