In the below excel table I have two steps and am stuck on the second. My first, StepA, Apply attachment point,Total Value Attachment Point. If result is less than zero, than the exposure to the policy = 0. (= IF(TotalVal AttchPt < 0, 0, TotalVal AttchPt))
For Step B - Apply Policy Limit. Compare result from Step A to the Policy Limit, take the minimum of the two.
Note I must take into account policies where the Policy Limit = 0. In these cases the coverage should be treated as unlimited. In cases where the LIMIT = 0, an effective limit equal to the total value of the specific ZIP Code should be assumed.
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Would I code using the 'min' function? I'm stuck on how to apply $0 if listed in policy limit.
Any input would be so helpful.
Thanks!
For Step B - Apply Policy Limit. Compare result from Step A to the Policy Limit, take the minimum of the two.
Note I must take into account policies where the Policy Limit = 0. In these cases the coverage should be treated as unlimited. In cases where the LIMIT = 0, an effective limit equal to the total value of the specific ZIP Code should be assumed.
ACCGRPNUM | POLICYNUM | AttchPT | POLICY LIMIT | STATE | ZIP | TotalVal | StepA | Step B |
1 | 1 | $10,000,000 | $2,500,000 | | 20171 | $66,296,000 | $56,296,000 | |
1 | 1 | $10,000,000 | $2,500,000 | | 30245 | $18,556,000 | $8,556,000 | |
1 | 1 | $10,000,000 | $2,500,000 | | 30327 | $26,602,000 | $16,602,000 | |
10027 | 10016 | $0 | $0 | NY | 11102 | $11,000 | $11,000 | |
10028 | 10017 | $0 | $0 | NY | 11105 | $429,000 | $429,000 | |
1 | 1 | $10,000,000 | $2,500,000 | | 32024 | $266,000 | $0 |
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Would I code using the 'min' function? I'm stuck on how to apply $0 if listed in policy limit.
Any input would be so helpful.
Thanks!