Loss Total Record - Type 20 - Exhibits

June 28, 2007

Exhibit 20 – 1

FCIC-Appendix III

Following are examples of the proper loss deduction codes to be used for an original claim and a
corrected claim:
Claim #1 – Indemnity amount $1,500, producer premium amount of $600
Loss Deduction Code of “M”
Loss Deduction Code of “E”

$600
$900

On the next example a corrected claim is processed for the same policy as #1 reducing the
indemnity amount to $1,100
Claim #2 – Indemnity amount $1,100, producer premium amount $600
Loss Deduction Code of “M”
Loss Deduction code of “E”

$600
$500

If the producer owed premium of $150 on another policy when claim #2 processed the following
codes should be used.
Loss Deduction Code of “M”
Loss Deduction Code of “P”
Loss Deduction Code of “E”

Codes:

M
P
E
F
R
O

FCIC-APPENDIX III

$600
$150
$350

Indemnity applied to the premium on the indemnified policy
Indemnity applied to the premium on another policy
Escrow
Indemnity applied to the Administrative Fee
Recovery of Prior Year Premium or Overpaid Indemnity
Other

1

RY2008