The program’s claims procedures connect the insurer’s payment of insured losses under its policies to the reimbursement of some part of those insured losses under the backstop. Accordingly, an insurer must have a clear understanding of these claims procedures in order to maximize reimbursement potential while guarding against overstatement of its claim under the backstop. Ultimately, an executive officer of the organization will certify to the compliance of the insurer’s submissions to the backstop.

Figure: Overview of key forms

9.1 – Monthly Claims Report

9.2 – Notice of Deductible Erosion

9.3 – Certification of Loss

9.4 – Declaration of Direct Earned Premium

9.5 – Bordereau

9.6 – Review of Payment Requests

9.7 – Payments from the Backstop

9.8 – Electronic Filing System

9.9 – Policies, Processes and Controls