MENUStatement Q & A
Use Sample Statement in association with Frequently Asked Questions below. Yellow arrows indicate new fields.
- Q. What does the Acct Date mean?
- A. The account date is the month and year the transaction was processed.
- Q. What does the account status at the bottom of the page mean?
- A. The account status is based off of the effective date of a policy. It does not always mean the account is past due.
- Q. What does the asterisk sign next to a policy number mean?
- A. If there is an asterisk sign next to a policy number, it means the account has been on your statement over 90 days and is considered past due.
- Q. Who is responsible for unearned premium disbursements on a canceled policy?
- A. The unearned premium due insured will be posted to the agent's statement and the agent is required to disburse funds to the insured. Outside financed policies through Retail Agents with a balance still owned to the finance company will be sent directly to the finance company by Rainier. The agent's statement will be charged the unearned premium amount sent to the finance company to off set the credit on their statement from the cancellation. For outside financed policies through General Agents / Surplus Lines Broker, the unearned premium will be applied to their statement and they are responsible for refunding the outside finance company.
- Q. How do I determine the return commission due Rainier on a canceled policy?
- A. The charge back for unearned commission is the debit amount identified in the Comm. column for the cancellation transaction.
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