Report: Earned Premium

The Earned Premium report provides "earned" premium for policies in-force during the selected report date range. Both billed and unbilled policies are evaluated for reporting.

Earned premium is calculated by dividing the numbers of days elapsed for the policy transaction by the total number of days the transaction is in effect (the transaction term) and then multiplying the result by the policy premium.

Earned Premium reporting may not be completely accurate for policies converted from a prior system until a full policy term is billed on AMS360.

Direct Bill Entry policies report different from Agency Bill, Direct Bill Invoice and Direct Bill Statement policies. See Direct Bill Entry Exceptions and Rules section in this topic for information about this.

Report Selections

What is this?

Date Range

Group/Field

What is this?

Policies Expiring After

Only policies expiring after this date are evaluated for inclusion in the report. This field defaults to the first day of the current fiscal year but can be changed.

Non-continuous policies with a policy Expiration Date that is greater than this date have transactions reported if the transaction effective date is earlier than or equal to the Earned Premium Date.

Continuous policies with a transaction effective date greater than or equal to the Policies Expiring After date and less than or equal to the Earned Premium date are reported.

If you choose to include continuous policies for reporting, earned premium is calculated for such policies as the sum of premiums for all transactions that are effective on or after this date.

Earned Premium Date

Enter the desired date on which the earned premium calculation ends for the included policies. The current system date defaults, but can be changed. You can key in the date or use the Date Picker.

Earned premiums on policies that expire prior to this date are calculated through the policy expiration date.

Personnel

Group/Field	What is this?
Exec	The default is (All) or you can select a specific executive or multiple execs.
Rep	The default is (All) or you can select a specific rep or multiple reps.
Broker	The default is (All) or you can select a specific broker or multiple brokers.

Business Unit

Click the link to open the Business Unit Selections form and make your selections.

Company

Group/Field	What is this?
Type	Defaults to (All). Insurance or Brokerage can be selected.
Parent	Defaults to (All), subject to the Type selected. Multiple parent companies can be selected.
Writing	Defaults to (All), subject to the Type and Parent selected. Multiple writing companies can be selected.

Lines of Business

Group/Field

What is this?

Type

Defaults to (All) or the following can be selected:

Commercial Lines
Financial Services
Health
Life
Non Property & Casualty
Personal Lines

LOB

Defaults to (All), subject to the Type selected. Multiple LOB's can be selected.

Continuous Policies

Continuous policies have Continuous checked in the Basic Policy Information section of the policy.

Option	What is this?
Exclude	This is the default. If this option is selected, continuous policies are not evaluated for inclusion in the report.
Include	If this option is selected, continuous policies are evaluated for inclusion in the report.
Report Only Continuous Policies	If this option is selected, only continuous policies are evaluated for inclusion in the report.

Include Agency Fees

Check this box to include fee amounts, where the agency is the recipient, entered in the Transaction Fees, Taxes, Finance, & Down Payments section of the Policy form. This option defaults as checked.

This includes amounts designated in Billing Charges and Credits Setup as:

Category = Non Premium
Charge Recipient = Agency

Include Company / Brokerage Fees

Check this box to include company/brokerage fee amounts entered in the Transaction Fees, Taxes, Finance, & Down Payments section of the Policy form. This option defaults as checked.

This includes amounts designated in Billing Charges and Credits Setup as:

Category = Non Premium
Charge Recipient = Insurance/Brokerage Company
Default Commissions in Billing = Agency

Sort Option

The default sort option is by Representative. Other options are available.

Report Totals Only

Checking this box suppresses the printing of report details, and reports grand totals only.

Description

Accept the default description, or enter a new one that describes the report you are requesting.

Print Cover Page

Allows you to include a cover page listing the selected options included in the report. This option defaults as unchecked.

Report Fields

Description

Customer

Customer name.

Policy

Policy number,

Policy number may be truncated to fit available space.

Parent/Writ

Parent Company short name/Writing Company short name on the policy.

Exec

Executive short name on the policy.

Rep

Representative short name on the policy.

Broker

Broker short name on the policy.

Div/Dept

Division/Department on the policy.

LOB/Chg

Policy Line of Business (Premium)/Charge Code (Non-Premium).

Term

Policy term.

Displays Continuous for continuous policies (no expiration date).

Prem/NonPrem

Total of entries in the Premium or Amount fields in the Transaction Premiums / Billing section of the Policy form.

If one or both of the Include Agency Fees or the Include Company/Brokerage Fees options are selected, fees report on separate report lines from the Premium amounts, and report only if the following criteria exist in Billing Charges and Credits Setup:

Agency Fee:
Category = Non Premium
Charge Recipient = Agency
Company/Brokerage Fee:
Category = Non Premium
Charge Recipient = Insurance/Brokerage Company
Default Commissions in Billing = Agency

In the above example, CanRW is a Cancellation/Rewrite Processing Fee fully retained by the agency. CoCom is an Insurance Company fee on which the agency receives commission.

Earned AgcyCm

Dollar amount of agency commission on earned premium/non-premium amount.

If the amount is not yet billed, commission defaults based on Company Setup > Commission Setup parameters and the commission amount is preceded by an asterisk (*).

Earned

Total billed earned premium.

If amounts are entered in Transaction Premiums and/or Transaction Fees, Taxes, Finance & Down Payments sections of the Policy form, but no billing is posted, this column shows a $0.00.

Totals Page

The Totals Page reports a row for each sort entity.

Column Heading	What is this?
# Cust	Number of customers.
# Policies	Number of policies.
Prm/NonPAgCm	Total of Prem/NonPrem detail amounts.
Earned AgcyCm	Total of Earned AgcyCm detail amounts. An asterisk (*) in front of the Agency Comm amount indicates that part or all of the agency commission is derived from setup because the policy LOB/charge is not billed.
Earned Prem	Total of the Earned detail amounts.

CSV Columns

CSV Columns	Description
FromDate	Selected Policies Expiring After date.
EarnedDate	Selected Earned Premium Date.
DivShortName	Division short name.
DivisionName	Division name.
DeptShortName	Department short name.
DepartmentName	Department name.
Customer	Customer name.
Policy	Policy number.
ParentCoShortName	Parent Company short name.
ParentCoName	Parent Company name.
WritingCoShortName	Writing Company short name.
WritingCoName	Writing Company name.
ExecShortName	Executive short name.
ExecName	Executive name.
RepShortName	Representative short name.
RepName	Representative name.
BrokerShortName	Broker short name.
BrokerName	Broker name.
LOBType	The following are possible LOB Types in the CSV file: Commercial Lines Financial Services Health Life Non Property & Casualty Personal Lines
LOBShortName	Line of Business short name.
LineofBusiness	Line of Business description.
NonPremShortName	Non-Premium short name from Billing Charges and Credits Setup.
NonPremDescription	Non-Premium description.
PolicyTerm	Policy term displayed as MM/DD/YYYY - MM/DD/YYYY.
Prm/NonPAgCm	Total of the amounts in Transaction Premiums plus the agency income portion of fee amounts from Transaction Fees, Taxes, Finance & Down Payments. This includes amounts designated in Billing Charges and Credits Setup as: Category = Non Premium and Charge Recipient = Agency Category = Non Premium, Charge Recipient = Insurance/Brokerage Company and Default Commissions in Billing = Agency.
AgcyCm	Dollar amount of agency commission on earned premium amount, including unbilled amounts.
DaysEarned	Number of days in the earned premium period.
DaysTerm	Number of days in the policy term.
Factor	Earned premium factor.
EarnedAgcyCm	Earned agency commission, excluding unbilled amounts.
AgcyCmSetup	Y (Yes) if AgencyComm amount is derived from setup (not billed).
EarnedPremium	Total billed earned premium. If amounts are entered in Transaction Premiums and/or Transaction Fees, Taxes, Finance & Down Payments sections of the Policy form, but no billing is posted, this column shows a $0.00.
BrnchShortName	Branch short name.
BrnchName	Branch name.
GrpShortName	Group short name.
GrpName	Group name.