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📄 '''Claims bordereau''' is a detailed periodic report — typically produced monthly or quarterly — that itemizes individual [[Definition:Claim | claims]] activity on a specific [[Definition:Insurance program | insurance program]], [[Definition:Binding authority agreement | binding authority]], or [[Definition:Reinsurance treaty | reinsurance treaty]]. It is the claims counterpart to the [[Definition:Premium bordereau | premium bordereau]] and serves as the primary mechanism through which an [[Definition:Insurance carrier | insurer]] or [[Definition:Reinsurer | reinsurer]] gains granular visibility into losses arising from business written on its behalf by a [[Definition:Managing general agent (MGA) | managing general agent]], [[Definition:Coverholder | coverholder]], or [[Definition:Ceding company | ceding company]]. Each line entry typically includes the claim reference number, policy identifier, date of loss, date reported, [[Definition:Line of business | line of business]], [[Definition:Claimant | claimant]] details, [[Definition:Loss description | loss description]], [[Definition:Incurred loss | incurred]] amounts (broken into [[Definition:Paid loss | paid]] and [[Definition:Outstanding reserve | outstanding reserves]]), and current claim status.

🔄 The operational mechanics revolve around a regular data exchange cycle. The entity managing claims — whether an MGA, a [[Definition:Third-party administrator (TPA) | TPA]], or a cedant — compiles the bordereau according to a format specified in the underlying contract or [[Definition:Binding authority agreement | binder]]. In the [[Definition:Lloyd's | Lloyd's]] market, for instance, [[Definition:Coverholder | coverholders]] are contractually required to submit claims bordereaux to [[Definition:Managing agent | managing agents]] on schedules defined by the [[Definition:Binding authority agreement | binding authority agreement]], and Lloyd's has invested in standardizing data fields and submission formats to improve consistency. Outside Lloyd's, practices vary: some [[Definition:Reinsurance | reinsurance]] treaties specify highly detailed bordereau requirements, while others — particularly [[Definition:Quota share | quota share]] treaties on well-understood books — may use more summary-level reporting. The recipient reviews the bordereau to monitor [[Definition:Loss development | loss development]], identify emerging trends or large losses, validate that claims handling complies with agreed authorities, and feed data into their own [[Definition:Reserving | reserving]] and [[Definition:Financial reporting | financial reporting]] processes. Increasingly, [[Definition:Insurtech | insurtech]] solutions and [[Definition:Data standard | data standards]] initiatives — such as ACORD messaging standards — aim to automate bordereau ingestion, replacing manual spreadsheet-based workflows with real-time or near-real-time data pipelines.

📊 Accurate and timely claims bordereaux are foundational to the trust-based model of [[Definition:Delegated underwriting authority (DUA) | delegated authority]] and reinsurance. Without them, a carrier or reinsurer is effectively blind to the performance of business written on its paper. Poor bordereau quality — late submissions, inconsistent data, missing fields, or reconciliation errors — has been a persistent pain point in the industry, contributing to delayed [[Definition:Loss recognition | loss recognition]], inaccurate [[Definition:Reserve | reserves]], and strained relationships between capacity providers and their delegates. Regulators and market bodies have taken notice: Lloyd's performance management processes explicitly assess coverholder reporting quality, and reinsurance contracts increasingly include financial penalties for late or non-compliant bordereau delivery. For any organization operating in delegated authority or ceded reinsurance structures, the claims bordereau is not just an administrative artifact — it is the lifeline of portfolio oversight.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Premium bordereau]]
* [[Definition:Bordereau]]
* [[Definition:Delegated underwriting authority (DUA)]]
* [[Definition:Binding authority agreement]]
* [[Definition:Loss development]]
* [[Definition:Reserving]]
{{Div col end}}

Definition:Claims bordereau - Revision history

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