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Bordereau is a report an insurance company prepares for their reinsurance company, to declare the claims that have been made and paid. It could also refer to a detailed list of assets covered in part by the reinsurance company.
Bordereau management has always been a very manual process, often having to enter each transaction by hand, leaving room for many errors. However, with the help of software, the process of producing a Bordereau can be performed with one click and rendered error-free.
There is a ‘paid’ and a ‘written’ bordereau. The written bordereau is for every transaction that has been underwritten and taken up. For the former, it only takes into account the transactions that have been paid for. Another type of bordereau is the claims one.
There are also claims bordereaux for the reporting of claims that occurred, claims paid, etc.
Bordereaux – A bordereau is one singular report, but when you’re referring to more than one bordereau report, you add the “x” after the “u”.
BDX – a commonly used shorthand abbreviation for bordereaux.