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Introduction

How to Identify a Co-insurance Policy

Policy Transaction level

Wizard

Endorse & Renew

Reporting

Introduction

The Co-insurance function ONLY applies to Manual policies. You can initiate a new Co-insurance policy by initiating a New Business transaction or a Renewal transaction. Enter information as per normal in the Policy Summary step of the wizard. At the bottom of the page, locate the Co-insurance field and select Yes - this will update the wizard with the Co-insurance step and features.

IMPORTANT:  The insurer you choose in the Policy Summary page will be considered as the Lead Insurer. A Co-insurance policy is only found in the client's and the Lead Insurer's transaction list; the policy will not be found in the transaction list of an insurer listed as a Co-insurer.

How to Identify a Co-insurance Policy

Co-insurance invoices or policies are identified when you are in the Policy Transaction level and wizard. 

Policy Transaction level

You'll notice there is a number after the word Insurer. This indicates that there is more than one Insurer on this policy; Insurer 1 is the Lead Insurer. You'll also notice a > or < symbol in both Insurer areas. These symbols allow you to change through the different Co-insurers attached to the policy. On the header, you can use the Insurer hyperlink to go to the respective Insurer profile. In the Premiums section, you can view each Co-insurer's premium breakdown.

Wizard

Once inside the wizard, you'll notice the Co-insurance page - this indicates the policy has Co-insurance.  

Endorse & Renew

An Endorsement will: 

• Allow you to add or delete a Coinsurer from the policy.
• NOT allow you to change a policy from non-Co-insurance to Co-insurance or vice versa.

A Renewal will:

• Allow you to add or delete a Coinsurer from the policy
• Allow you to change a policy from non-Co-insurance to Co-insurance or vice versa.

Reporting

The Coinsurance Bordereau is the main report for Co-insurance and will display the following:

• Invoices that belong to a Coinsurer
• Who the Lead Insurer of the invoice is
• The premium breakdown for a Coinsurer for each invoice