Assigning Insurance to a Party

Only parties where the Show party in insurance section box is checked (Configuring Party Involved Libraries)(see Configuring Party Involved Libraries in the AdministratorThe person in charge of managing and maintaining RL6. Guide) will be eligible to have insurance assigned to them. When insurance is assigned to a party, you will be able to split the transaction two ways: between parties and then between policies for the party.

To assign insurance to a party:

1. Open a file.
2. Scroll to the Insurance section (or use the Contents widget) and select By Party from the View list.
3. Select the party to whom you would like to assign insurance.
4. Click the Add or Modify action link. The Modify Insurance dialog opens.
5. Click the [+] to view the policy tiers and policies that are available and check the policies, tiers or year that you would like to associate with the party.
6. Tip: While you can assign various coverage types to the party, you should limit your selection to one coverage type, as shown.
6. Click OK. The selected policies appear under the party.
7. Check the Exp Erode Aggregate box to include transactions recorded against the policy for reporting purposes.
8. Note: Once insurance is assigned to the party, an option to split transactions by insurance appears after it is split by party (Completing the Transactions Section).