The LRECLM message is used by companies to exchange information regarding a claim or claims on a policy or policies which have been reinsured. The message will be used for both ceded and assumed reinsurance.
The trading partners utilizing the Life reinsurance claims message will be direct companies, reinsurance companies, reinsurance intermediaries and retrocessionaires. The message will be used to transmit data required by ceding and assuming companies to communicate information for the orderly settlement of claims. It also facilitates the reconciliation of the reinsurance records in order to maintain the integrity of the data between the trading partners.