TABLE OF CONTENTS
- 1. Clearance Search
- 2. Account Information
- 3. Foreign Exposure checkbox
- 4. Submission Entry
- 5. ImageRight
- 6. Acknowledgement Letter
- 7. Check your email
- 9. Policy Number Options
- 10. Submission Entry – Quote Detail
- 11. Submission Entry – Quote Detail – Pg 2
- 12. Bind – Select the Bind button.
- 13. Issue Binder
- 14. Create a Suspense
- 15. Binder
- 16. Invoice Transaction - Header
- 17. Invoice Screen
This is the workflow to use if you are seeking approval to process a commissionable submission on a foreign risk. This workflow would apply if there is foreign exposure, or the transaction is being completed with an unauthorized carrier. Indication of what foreign jurisdictions are acceptable for this type of transaction is determined by compliance.
1. Clearance Search
- Clear the submission by following the Entering New Business guide
2. Account information
- All of the account information will be entered as normal, following the Entering New Business guide
3. Foreign Exposure checkbox
- The “Is any portion of this risk foreign exposure?” checkbox should be left unchecked.
- This checkbox is intended only for reporting purposes if a domestic risk has incidental foreign exposure, (for example, employees that travel internationally), and is not intended to be checked for the process of charging a fee on a foreign exposure.
4. Submission Entry
- Now that the submission has been created in AIM, you’ll need to update the following fields on the Submission Entry screen.
- Filing State: This will need to be updated to OTHER – NON US. Until approval of your risk is received, the Filing State must be left as OTHER – NON US.
- Attn/POC: If you did not add your retail agent contact during the Universal Clearance process, you can add them now.
- Save: Select Save at the bottom of the Submission Entry screen.
5. ImageRight
- The ImageRight file will be created automatically.
6. Acknowledgement Letter
- It is optional to send the Acknowledgement letter, but if you wish to do so, you can access this process by selecting the Submission Menu Option, then Acknowledgement.
7. Check your email
- By having selected OTHER – NON US as the filing state, an email has been automatically generated to the Prod/Acct Exec that was assigned on the submission entry screen, and copied to the Market Rep and TA/CSR. This email will contain a link to a supplemental questionnaire that must be completed and submitted to Regulatory and Compliance (R&C) to start the review process. It’s important to understand that your submission will not be reviewed until the questionnaire is completed and submitted. Once R&C reviews the supplemental questionnaire, they may contact you to further discuss the submission.
- If approved: Approvals will be communicated by the approver to the App Support team. App Support will perform the necessary background entry and confirm with you when complete.
8.Once approval is granted and processed, locate your AIM submission, and select the Bind button. (It is not necessary to complete the quote process.)
9. Policy Number Options
- Select Enter policy number from Company and input the policy number.
10. Submission Entry – Quote Detail
- From the Submission Entry – Quote Detail – Page 2 screen, use the Back button in the lower left corner to navigate back to the Submission Entry – Quote Detail screen, and change the filing state to the appropriate US home state. If there is no US risk address and 100% of the premium is foreign, use ILLINOIS as the filing state. However, if ANY PORTION OF THE RISK is US exposure, you MUST determine and input the correct tax filing state represented by the US home state. Then click on the Next or Save button.
11. Submission Entry – Quote Detail – Pg 2
Market Company
- Select the actual market company for this scenario.
Risk Company
- Select the correct risk company for this scenario.
- Market/Risk relationship: If you find that after you select your market company, the referenced risk company does not display, a request will need to go to compliance asking that your risk carrier be related to your market.
Premium
- Enter the actual premium.
Total Fees
- Enter all fees as needed.
TRIA Premium
- Enter the TRIA status/premium as needed.
Taxes
- If the entirety of the premium is foreign exposure, select the tax screen and change the Responsible Filing fields to Not Applicable on each tax line applied.
- If only a portion the of the premium is foreign exposure, select the tax screen and designate the amount of premium allocated to foreign exposure by indicating that premium amount in the Admitted Premium field. This will cause that portion of the risk to not be subjected to taxes.
Eff and Exp dates
- Confirm that you have entered the correct policy dates.
Gross and Agent Commission
- Complete the correct commission rates.
State Specific Information (if prompted)
- Select Timothy W. Turner as the Authorized Signatory.
12. Bind – Select the Bind button.
13. Issue Binder
1. Be certain the billing type selected is Agency Bill, and select Bind.
14. Create a Suspense
- Answer No to create a suspense.
15. Binder
- Save and close the binder document.
16. Invoice Transaction - Header
- This transaction will be invoiced like any other bind. Make any necessary updates to Description, Due Date or invoice message, and select OK
17. Invoice Screen
- Check your invoice for accuracy and select Post to generate the invoice document to mail to the responsible party.
Version 2, 3/20/2022
RT Application Training & Support Portal
Copyright © 2022 Ryan Specialty Group
This document is deemed internal and confidential and cannot be released outside of RT Specialty or its subsidiaries.
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