Revising an Agency-Billed Binder Invoice

When an insurer sends you a Declarations (DEC) sheet for a client to whom you've issued a binder, you may need to make changes to the policy that may include premium. Do so by revising the binder policy that you issued previously.

Prerequisites

To revise an agency-billed binder invoice, you must update the binder policy you entered for the client. You entered the word "BINDER" in the Policy Number field of the Policy Detail Information page when you entered the binder policy. The system recognizes as binders only those policies entered with the word "BINDER."

Revise an agency-billed binder invoice

  1. Look up and load the client.
  2. Select a policy from the Policies tab. The Policy Detail page appears.
  3. Click Maintain. The Maintain an Existing Transaction grid appears.
  4. Click any Trn (Transaction) code to view the Policy Detail page.
  5. In the Policy Number field, delete the word "BINDER" and the appended number, then enter the policy number.
  6. Scroll to the Binder section and delete the Binder Effective and Binder Expiration dates and times.
  7. Click Save. The prompt, (2781) Do you wish to change the Policy # on existing Payables? appears.
  8. Click Yes. If the policy premium differs from the amount that was previously binder billed, continue with To complete the Payment Plan/Premium Transaction Page.

Complete the Payment Plan/Premium Transaction Page

  1. Highlight the line that represents the binder billing.
  2. Click Revise to create a voided invoice record. T
  3. Use the Invoice to Clients page Invoice tab to make the appropriate changes to the invoice.
  4. Save the invoice with the correct data and choose a print/view option. Refer to the Print Options bar topic for additional information. When the invoice process is complete, you return to the Payment Plan/Premium Transaction page.