Escrow Changes on Endorsements

In this topic, we continue our discussion of escrow billing that we began in Escrow Billing.

When issuing a policy change for a policy that carries escrow, it may be necessary to invoice additional or return escrow premium amounts. In the steps that follow, we show you how to include escrow on the invoice when processing the endorsement in AIM.

  1. Initiate the endorsement process based on your agency’s requirements.
  2. In the Policy Change/Endorsement dialog box, complete the Premium/Change Description tab as defined by your agency.
  3. Click the Policy Detail Change tab.
  4. If Escrow of Line of Credit was selected upon binding, the fields in the Escrow Change group box are populated with the policy’s escrow information.
  5. If additional or return escrow or line of credit is required, select Escrow Change. The escrow amounts are automatically calculated depending on the original bound data.
  6. Complete escrow fields as needed.
  7. Click OK.

Note: If you neglect to follow the steps above, you will be asked whether you need to change the escrow on the endorsement.

  1. Process the resulting endorsement document and invoice it.

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