Quote Requirements - Third Party Liability (General)¶
Overview¶
Based on 1,714 policies from Premia UAT database for product 5010.
Core Policy Information¶
Mandatory Fields¶
| Field | Database Column | Description |
|---|---|---|
| Product Code | POL_PROD_CODE | Must be '5010' |
| Policy Start Date | POL_FM_DT | Coverage start date |
| Policy End Date | POL_TO_DT | Coverage end date (typically 1 year) |
| Sum Insured | POL_SI_FC / PRAI_SI_FC | Liability coverage limit |
| Premium | POL_FC_PREM | Calculated premium amount |
Key Business Data¶
Business Information Required¶
- Company Details
- Legal entity name
- Trade license number
- Business activity description
-
Location of operations
-
Sum Insured Selection
- Liability coverage limit required
- Range: Up to AED 70,000,000
- Average: AED 2,369,774
-
Based on business size and exposure
-
Business Risk Profile
- Annual turnover/revenue
- Number of employees
- Nature of business activities
- Claims history (if renewing)
Coverage Period¶
- Standard: 1 year policy
- Start Date: As per business requirement
- End Date: 12 months from start
Business Classification¶
Risk Categories¶
Businesses are classified by activity type:
- Low Risk
- Office operations
- Consulting services
- Professional services
-
IT/Technology services
-
Medium Risk
- Retail operations
- Wholesale trade
- Light manufacturing
-
Service industries
-
High Risk
- Heavy manufacturing
- Construction-related
- Hazardous materials handling
- Heavy machinery operations
Quote Process¶
Step 1: Collect Information¶
- Business license and activity
- Annual turnover
- Required sum insured
- Claims history
Step 2: Classify Risk¶
- Determine business risk category
- Assess exposure level
- Review claims history
- Set appropriate rate (0.10% - 3.23%)
Step 3: Calculate Premium¶
Base Premium = Sum Insured × Rate %
Add: Risk loadings (if applicable)
Less: Discounts (if applicable)
= Final Premium
Step 4: Generate Quote¶
- Policy period: 1 year
- Sum insured: As selected
- Premium: Calculated amount
- Payment terms: Annual, Semi-annual, Quarterly
Validation Rules¶
Based on actual data patterns:
- Sum Insured
- Reasonable for business size
- Aligned with industry standards
- Average: AED 2.37M
-
Maximum seen: AED 70M
-
Premium Rate
- Within range: 0.0001% - 3.23%
- Typical: 0.10% - 0.50%
- Average: 0.15%
-
Median: 0.12%
-
Business Activity
- Must be valid trade license activity
- Activity must be acceptable for TPL coverage
- Some high-risk activities may be excluded
Coverage Structure¶
Main Coverage (501001)¶
Third Party Liability: - Bodily injury to third parties - Property damage to third parties - Legal defense costs - Per occurrence and aggregate limits
Optional Extensions¶
- Product liability
- Employers' liability
- Professional indemnity add-on
- Extended territorial coverage
Database Structure¶
Main Tables¶
- PGIT_POLICY - Policy master
- PGIT_POL_RISK_ADDL_INFO - Business details
- PGIT_POL_RISK_COVER - Coverage details (501001)
- PGIT_PREM_COLL - Premium collection
Key Relationships¶
PGIT_POLICY (1) ──→ (Many) PGIT_POL_RISK_ADDL_INFO
PGIT_POLICY (1) ──→ (Many) PGIT_POL_RISK_COVER
PGIT_POLICY (1) ──→ (Many) PGIT_PREM_COLL
Required Documents¶
For quote generation:
- Trade License - Valid UAE trade license
- Business Profile - Description of operations
- Turnover Statement - Annual revenue figures
- Claims History - Previous insurance claims (if any)
- Risk Survey - For high-value accounts
Integration Points¶
When creating a quote through API/middleware:
- Validate trade license
- Classify business activity
- Determine appropriate rate
- Calculate premium
- Apply underwriting rules
- Generate quote document
Data Source: Based on analysis of 1,714 General TPL policies (product 5010) from Premia UAT database. Field requirements derived from actual usage patterns.