Detail – Pg. 2

In this topic, we continue our discussion of submitting or editing a quote using the Quote command on the Submission Menu.

The Detail – Pg. 2 tab is where you can record additional quote data such as aggregate limits and insurance to value limits.

  • In the General pane, enter the following information.
    • Surplus Lines Filings – party responsible for paying surplus lines taxes
    • Retention – retention amount that is specified on the policy, if applicable
    • Valuation – value of the insured property
    • TIV – total insured value
    • Rate – flat amount or percentage to be used to calculate the rate
    • Brokerage Acct – indicates whether this is a brokerage account
    • Company Contact – name of contact at the company or agency
    • Aggregate Limits – aggregate limit amount
    • UnderLying Limits – sum of the underlying limits
    • Here On % – Lloyd's/reinsurance; the percentage of the risk that is written “hereon” for the policy
 

An example of hereon percentage; if property had a total exposure risk of $10 million, and this policy covers $2 million in excess of the primary layer of $5 million, then the hereon percentage for the policy would be 20%.

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