Lienholder Billing Overview

Product: The Agency Manager Series

Lienholder transactions are generated at the policy billing screen when you designate a customer policy as Lienholder Billed in the Bill Mode field with the appropriate lienholder and process the transactions for that policy. This situation usually occurs on homeowners policies where the party who holds the mortgage on the insured item is billed for the coverage.

Follow the steps below to Lienholder bill items:

  1. Set up the Lienholder through the Lienholder File. 
  2. Set up a policy at the customer level with a bill type of L for Lienholder. 
  3. On the clients policy, make sure the LN field has the Leinholder code in it.
  4. Transact the Lienholder billed item from customer level. 
  1. Enter the transaction for the premium amount. 
  1. Each transaction on a lienholder billed policy creates three transactions: 

The item is billed from the customer level, but the balance moves to the lienholder file. All three of these transactions file with the same item number in TAM.

  1. Every transaction should hold the seven-digit customer code, then the description of the transaction. This makes it easy to work with a lienholder level. 
  2. You cannot finance (FIN) a lienholder item. 
  1. To add payments, debits, and credits against this item, they are applied to the lienholder file.

Last Revised: April 01, 2008 11:37 AM