Detailed Contract Model Examples

The detailed examples in this section illustrate the calculations of the Risk Data Open Standard contract model. These examples assume claims from one flood event affecting one location and causing (150k, 30k, 20k) USD loss to (Building, Contents, BI) unless stated otherwise.

Examples include:

• Simple Covers and Terms
  • Simple Covers
  • Simple Sublimits
  • Simple Deductibles
• Simple Sections
• Complex Terms
  • Max Deductible
  • Percent of Loss Deductible
  • Percent of RCV Covered
  • Percent of RCV Affected
  • Franchise Deductible
  • Per Risk Terms
  • Absorbing a Deductible
  • Aggregate Terms
• Complex Covers
  • Aggregate Limits and Attachments
  • Cover Trees
  • Constrained Covers
  • Payout Functions
  • Step Policies
  • Franchise Attachment
  • Complex Covers