Producing Broker (PB)

The Producing Broker (PB) model, previously known as the Net Authorised Representative (Net AR), is typically used with INSIGHT to manage the following business scenarios: 

• Wholesale Broking, and 
• Underwriting Agencies

For accounting purposes, the Insured remits directly to the Producing Broker and the Producing Broker pays the brokerage the “Net amount” of the transaction. (Company base premium, plus charges, less the Net AR’s remuneration.) 

There are times where the brokerage will need to pay an amount to the PB, these could be from: 

• Credit transactions including cancellations 
• Overpaid amounts from the PB /unallocated cash 

Please use the following article series focused primarily on receipting and payment functions of the Producing Broker. 

Intended Audience

The intended audience for this article series is personnel within each organisation who have responsibility to process and manage payments and accounting records; and internal or external personnel that are required to have knowledge on accounting functions of INSIGHT. Readers are advised to refer to the INSIGHT Online Help for additional information that may be available.

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Terms & Phrases

Insured	This is the Producing Broker’s client or policy holder
Producing Broker (PB)	This is the owner of the client relationship
Brokerage	This is the entity that has facilitated the policy placement on behalf of the Producing Broker

Article Series

Receipting for Producing Brokers

Payments to Producing Brokers

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