Using the Premium Bordereau Report

How to use the built in Premium Bordereau Report 

 

Applies to:

  • Managers
  • Producers
Last Updated: September 2020

This article explains how to access the Premium Bordereau by navigating to the Bordereau section in the Reporting tab

There are two sections to this article


Running a Premium Bordereau report:

  1. Navigate to the Reports tab in the Side Navigation Bar and ensure the Standard section is selected.
  2. On the left, select the Bordereau reports subsection, then click Premium Bordereau Report.
  3. The Premium Bordereau lists the transactions that happened during the selected time period providing the user an understanding of the premiums associated to these transactions.
  4. The Premium Bordereau is grouped by transaction. Locations and sub locations are rolled up to a single row.

Date filtering can happen based on:

  • transaction date: date of the transaction
  • accounting date: latter of the transaction or the effective date


Available Fields

The Premium Bordereau report contains the following fields:

  • Coverholder Name
    Name of the Coverholder on the selected Contract
  • Unique Market Reference (UMR)
    Contract Number of the contract used
  • Reporting Period Start Date
    Start Date of the report (based on the selected criteria used it can be accounting or transaction date)
  • Reporting Period (End Date)
    End Date of the report (based on the selected criteria used it can be accounting or transaction date)
  • Class of Business
    List of Lines of Businesses on the policy
  • Type of Insurance (Direct or Type or Reinsurance)
    Type of insurance or reinsurance. Data can be:
    - Direct
    - Excess of Loss
    - Facultative Reinsurance
    - Treaty Reinsurance
  • Certificate Ref
    The policy number of the policy
  • Insured First Name
    First name of the Insured
  • Insured Full Name
    Full name, Last name of the insured or Company name
  • Insured State
    Country Sub-division: State, Province, Territory, Canton etc
  • Insured Country
    Country of the Insured
  • Type of Business New or Renewal
    If the transaction is for a renewal policy then it populates as RENEWAL if the transaction is for a new Policy then it populates as NEW
  • Risk Inception Date
    Effective date of the policy
  • Risk Expiry Date
    Date of the last day of the policy
  • Transaction Type - Original Premium etc
    Type of the transaction: BIND, ADDITIONAL_PREMIUM, CANCELLATION etc.
  • Effective Date of Transaction
    Effective date of the transaction (in case of original bind then it will be the same as the Risk Inception Date, for Endorsements it will be the Effective Date of the Endorsement.)
  • Transaction - Original Currency
    Original Currency of the transaction
  • Gross premium amount
    Total premium paid this time to the MGA in $ amount for the transaction
  • Commission Percentage
    Percentage amount of the total commission on the transaction
  • Commission Amount
    $ amount of the total commission on the transaction
  • Net Premium Amount
    Net premium amount paid to the Marketing Company
  • Settlement Currency
    Currency in which the limits are defined on the transaction
  • Surplus Lines Broker - Name
    Name of the Surplus Line Broker on the transaction
  • Surplus Lines Broker - Licence No
    License No of the Surplus Line Broker on the transaction
  • Surplus Lines Broker - New Jersey SLA No
    If the Risk is in New Jersey then the New Jersey SLA No on the transaction
  • Surplus Lines Broker - Address
    Address of the Surplus Line Broker on the transaction
  • Surplus Lines Broker - State
    State of the Surplus Line Broker on the transaction
  • Surplus Lines Broker - Zip Code
    Zip code of the Surplus Line Broker on the transaction
  • Total Gross Written Premium
    Total Gross Written Premium amount of the transaction
  • Location of Risk Postal Code
    Postcode, zip code or similar for the first location
  • Location of Risk County
    County of the first location
  • Sum Insured Currency
    Currency of the total limit
  • Sum Insured - Amount
    For Commercial Lines policies this is the sum of the following limits (if applicable):
    Building coverage limit, Other structures coverage limit, Contents limit, Business income with/without extra expense limit, General Liability each occurrence limit and Medical expense limit
    For Personal Lines policies this is the sum of the following limits (if applicable): Dwelling (Coverage A) limit, Other Structures (Coverage B) limit, Personal Property limit, Loss of Use limit, Personal Liability limit and Medical Payments limit
    This field is calculated for the policy total for that endorsement.
  • Property part Premium
    Billed property part of the transaction:
    Commercial lines: Premium part for Commercial Property LOB
    Personal lines: total premium charged
  • Liability part Premium
    Billed liability part of the transaction
    Commercial: Premium part for General Liability
    Personal: currently no personal lines liability part is reported
  • INVOICE #
    Invoice # used for the transaction

The report can be downloaded in CSV format to do further analysis on it or to share it with outside parties, like Lloyd's of London brokers.

Use the text import wizard in Excel to convert the CSV to an excel file. It is advised to select the cell format as 'text' to keep the ZIP codes starting with a 0 as their original value.

  • Data > From Text
  • Select CSV > Import
  • Choose 'Delimited' file type > Next
  • Select 'Comma' only as the delimiter > Next
  • Select 'ZIP Code' column and set 'Text' as column data format > Finish

Invalidated endorsements and voids.

Invalidated endorsements are displayed in the report with negative premium (if monied endorsement).

An invalidated endorsement has the tag 'INVALIDATED' appended to the transaction type.