AIM Binding a Submission

Liquid error: undefined method `name' for nil:NilClass

TABLE OF CONTENTS

The Bind tool is used to bind a quote and provide a confirmation of coverage to the retail agent. Before processing the binder in AIM, ensure the binder from the market and the edited binder to the agent are both in ImageRight.

Start the Bind

1. On the Main tab, select the submission to bind.

2. Under the Versions subtab, right-click on the version to be bound and select Bind.

3. If multiple quotes exist, the Select Quote Version to Bind window will appear. Ensure the correct version is highlighted and click OK.

4. Select Enter policy number from Company in the Policy Number Options window.

Note: Teams with binding authority may have blocks of numbers assigned by the carrier. In those instances, select Assign policy from Register. Reach out to appsupport@rtspecialty.com with questions.

5. Enter the policy number as it appears on the binder. It is extremely important to match spacing and punctuation. If the policy number hasn’t been issued, enter the submission number. The policy number can be updated later. Click OK to continue.

Submission Entry – Quote Detail – Pg.2

Any information entered during the quote process will appear on the Submission Entry – Quote Detail – Pg.2 screen. If no changes are needed, click Bind and continue to step #13. Otherwise, continue below.

6. Select the market, risk company, and product from the dropdowns.

Mkt Co. – where the premium is sent
Risk Co. – name of carrier issuing the policy
Product – a behind the scenes combination of risk company and coverage; unless otherwise instructed, select a product labeled with only the coverage name
Form – only applicable if using the non-brokerage template

7. Enter the appropriate information under Terms.

Premium – term premium for the policy (Click to open and edit the Premium Distribution)
Total Fees – total of taxable and nontaxable fees (Click to open and edit the Fee Schedule)
TRIA Premium – indicates whether TRIA applies (Click to open and edit TRIA)
Taxes – total of Surplus Lines taxes and fees applicable to non-admitted policies (Click to open the Surplus Lines Tax Calculator. Refer to Multi-State Taxes if the NRRA box was selected in the Submission Entry)
MEP – minimum earned premium for the policy, if applicable
Coinsure – coinsurance percentage, if applicable
Deduct – select deductible or self-insured retentions, if applicable
Retro – retroactive date for the policy, if applicable
Eff. – effective date of the policy
Term – policy term
Exp. – expiration date of the policy

8. Enter the Commission percentages.

Gross – gross agency commission percentage
Agent – portion of gross percentage going to the retail agent

9. Select options.

Direct Bill – policy will be direct billed
Indication – this feature is not supported
Taxed – policy is subject to Surplus Lines taxes; manually changing this field will prevent the user from moving forward with the quoting process
MultiOption – selecting this does not affect the quote template
Financed – selecting this does not affect the quote template
Renewal – quote is for a renewal
Brokerage – selecting Yes will result in a quotation summary, selecting No will result in a quotation confirmation displaying terms, conditions, and limitations entered on this screen

10. Information entered in the Limit and Deductible grid will not display on the quotation summary. If No was selected from the Brokerage dropdown, enter the limits, coverages, and deductibles. Coverages can be manually entered or selected from the dropdown. All fields are alphanumeric.

11. Continue entering applicable information. Only text entered in the Terms field will appear on the quote.

12. Click Bind to continue.

13. When the Surplus Lines Tax Calculator screen opens, click Reset Taxes, Yes to confirm, and then OK to save.

14. As designated by the Surplus Lines Tax department, certain states require additional information. On the State Specific Information screen, fill in the Limits #1 field, omitting any commas, periods, or currency symbols. View this document for help determining limits. For New York policies only, select the Designated Responsible Licensed Producer from the Authorized Signatory dropdown. Click OK when complete.

Validation Results

15. Read the Validation Results.

If presented with the ProExec Custom Screen error, click OK and then Cancel to exit the request to bind process. Review the ProExec Data Screens guide for detailed instruction.
For most other errors, simply click OK to continue.

Issue Binder

16. Review the data in the Issue Binder window. Click Back to make changes or click Bind to continue.

Attach Tax Affidavit

17. Decide whether to add all applicable surplus lines forms to the end of the COI.

Document Processing Window

18. In the Document Processing window,

Edit the template as needed.
Edit the ImageRight document pane as needed.
If choosing not to send the template to the agent, click Discard Document

Note: Review the Document Processing guide for more detailed explanations.

19. Save and Close to import the template into ImageRight close the Document Processing screen.

Create a Suspense

20. Choose whether to create a follow up suspense. Review the Suspenses guide for instructions on linking a suspense to an ImageRight document.

Invoicing

21. Review the Invoicing guide for instructions.

Send to Agent

22. From ImageRight, select the scrubbed binder, market binder, and invoice and email it to the agent. Open this guide for instructions on emailing from ImageRight.

Version 8, 10/7/2022

Digital & Technical Solutions Application Training & Support

This document is deemed internal and confidential and cannot be released outside of RT Specialty or its subsidiaries