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This feature, or some fields and options described, might not be available depending on your settings, security rights, or platform package.

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Line of Business Setup

AMS360 includes ACORD standard Lines of Business (LOB). Use this setup feature to add company-specific or other Lines of Business you want to appear in Line of Business lists.

    ClosedAccessing Line of Business Setup

From any center or form with a Toolbox menu, click System Administration > Customer/Policy Setups > Line of Business.

You must have proper authorization to access Line of Business Setup.

    ClosedFields in Line of BusinessSetup

Field

What is this?

Type of Business

Indicates where this Line of Business is available.

  • Benefits

  • Commercial Lines

  • Financial Services

  • Health

  • Life

  • Non Property and Casualty

  • Personal Lines

Income Group

The Income Group determines the general ledger income account where the commission is posted when this line of business is used.

These are System Accounts and cannot be changed or added to. For more information see the Chart of Accounts setup.

The following GL accounts are affected based on your selection:

Income Group

What General Ledger Accounts?

Financial Service Premium

  • 40411 or 40412 - Agency Bill Insurance or Brokerage Co

  • 40421 or 40422 - Direct Bill Insurance or Brokerage Co

Life and Health Premium

  • 40211 or 40212 - Agency Bill Insurance or Brokerage Co

  • 40221 or 40222 - Direct Bill Insurance or Brokerage Co

Other Premium

  • 40311 or 40312 - Agency Bill Insurance or Brokerage Co

  • 40321 or 40322 - Direct Bill Insurance or Brokerage Co

Property and Casualty Premium

  • 40111 or 40112 - Agency Bill Insurance or Brokerage Co

  • 40121 or 40122 - Direct Bill Insurance or Brokerage Co

Line of Business Assignment

Group/Field

What is this?

Description

Enter a unique description to appear in the Line of Business list throughout AMS360.

Code

Enter a unique code to identify this Line of Business.

System Data Entry

Select the data entry form you want to use for the collection of data on this Line of Business.

Active

Verify that Active is checked. This causes the line of business to appear in the appropriate lists throughout AMS360.

Application Assignment

Group/Field

What is this?

Category Filter

Use to limit the Applications list displayed to only those applications assigned to this Category. Leave blank to fill the Applications list with all the applications.

Example

Select Commercial Lines to filter the applications to only display commercial lines applications.

State Filter

Use to limit the Applications list displayed to only those applications assigned to the selected State. Leave blank to fill the Applications list with all state applications.

Example

Select California to filter the applications to only display applications for the state of California.

Application

Sets the default application form to use when creating and printing ACORD applications.

If BOP Policy, override assignment with BOP application

Check this box if you are creating a line of business to use with a Business Owners Package policy.

Then when you select this line of business within the Line of Business section on the Policy data entry form, the application defaults to the current ACORD160 Business Owners application.

    ClosedCoverages and Endorsements

Field

What is this?

Coverage

Select a Coverage to attach to this line of business. When Coverages are assigned here they become available to select on the Line of Business data entry form when you use this line of business.

For more information on setting up coverages, see Coverage and Endorsement Setup.

Active

When checked (default), this coverage appears in the Coverage List on the Line of Business data entry form when you use this line of business.

Yes/No Description

This is an optional description for the coverage and is available for homeowners and dwelling fire lines of business only. Then, when working in the actual line of business, you can choose yes/no to include this description with the coverage or not.

Example

If the coverage is Medical, the optional description might be 1st Party Medical. When working in the homeowner or dwelling fire line of business you have the option to include or exclude this coverage description, yes or no.

    ClosedPermanent Line of Business

AMS360 includes a set of permanent Lines of Business (identified by an 'X' in the Permanent column) that cannot be deleted. ACORD standard lines of business are permanent.

You can edit certain fields for permanent Lines of Business, or you can change the status (active/inactive), which controls whether the lines of business appear in the lists throughout AMS360.

See Lines of Business: How to Add, Edit, and Delete for instructions on how to edit permanent Lines of Business. However, Vertafore suggests that you use caution when doing so as it may adversely affect Download, Upload, and Integration.

What's Next?

Do you need to set up commission rates for these Lines of Business? See the Commission Setup section of the Company or Employee topics.


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