Use this form to distribute premiums and non-premiums among the companies participating in a risk prior to invoicing.
When accessing the form from the Transaction Premiums section of the Policy form:
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Click New to create a row in the grid.
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Select the Insurance or Brokerage company type. Then select a parent and writing company that is participating in the risk from the list.
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Select a Plan, if applicable.
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Enter the Policy # assigned by the company.
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Enter a Percent Participation and [Tab]. The system calculates the premium for this company based on the percentage entered and fills the Premium field. If you prefer, you may enter the specific amount for the company in the Premium field.
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Click Add.
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Repeat this process until the entire premium amount is distributed.
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Click Save.
If the Remaining Premium does not equal $0.00 before the form is saved, a warning message advises that the entries are not in balance. Remaining Premium must be 0.00 before you can Create an Invoice.
When accessing the form from the Transaction Fees, Taxes, Finance & Down Payments section of the Policy form:
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Click New to create a row in the grid.
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Select Insurance or Brokerage company type. Then select a parent and writing company that is participating in the risk from the list.
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Select a Plan, if applicable.
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Enter the Policy # assigned by the company.
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Enter a Percent Participation and [Tab]. The system calculates the non-premium for this company based on the percentage entered and fills the Premium field. If you prefer, you may enter the specific amount for the company in the Premium field.
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Click Add.
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Repeat this process until the entire non-premium amount is distributed.
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Click Save.
If the Remaining Premium does not equal $0.00 before the form is saved, a warning message advises that the entries are not in balance. Remaining non-premium must be 0.00 before you can Create an Invoice.
Use the Previous/Next buttons to view companies, policy numbers, and percent participations entered for premiums as necessary to complete the appropriate the appropriate fields for non-premium entries.
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