Reinsurance

Reinsurance losses can be calculated for event-based and scenario risk calculations. To do so, the configuration file, job.ini, needs to specify the parameters presented below, in addition to the parameters generally indicated for these type of calculations:

[risk_calculation]
aggregate_by = policy
reinsurance_file = {'structural+contents': 'reinsurance.xml'}
total_losses = structural+contents

Additional comments:

• aggregate_by: it is possible to define multiple aggregation keys. However, for reinsurance calculations the policy key must be present, otherwise an error message will be raised. In the following example, multiple aggregation keys are used:

  aggregate_by = policy; tag1
  

  In this case, aggregated loss curves will be produced also for tag1 and policy, while reinsurance outputs will only be produced for the policy.

• reinsurance_file: This dictionary associates the reinsurance information to a given the loss_type (the engine supports structural, nonstructural, contents or its sum). The insurance and reinsurance calculations are applied over the indicated loss_types, i.e. to the sum of the ground up losses associated with the specified loss_types.

  NOTE: The current implementation works only with a single reinsurance file.

• total_losses: (or total exposed value) needs to be specified when the reinsurance needs to be applied over the sum of two or more loss types (e.g. structural+contents). The definition of total losses is also reflected in the risk outputs of the calculation. NB: if there is a single loss type (e.g. structural) there is no need to specify this parameter, just write reinsurance_file = {'structural': 'reinsurance.xml'}