Set up premium groups

You can set up premium groups to identify a minimum or maximum premium amount for coverage groups.

Example: Coverages A, B, C, and D can be grouped with a minimum premium of $100. In this case, the system will charge at least $100 for this coverage group.

To set up premium groups:

  1. In the BriteCore menu, select Lines.
  2. On the Effective Dates screen, select the effective date you want to use.
  3. On the Policy Types screen, select the Components dropdown list, and then select Premium Groups.
  4. In the Min/Max Premium Groups section, select the Add a New Min/Max Premium Group plus icon .
  5. In the Min/Max Premium Group Setup dialog box, complete the following steps:
    1. In the Min/Max Premium Group Name box, type the name of the group. If the group limits premium discounts, select This group limits Premium Discounts.
    2. In the Enforcement Type dropdown lists, select the enforcement type for the group, and then complete one of the following steps:
      1. Select Premium is an amount, and then, in the box, type the premium amount.
      2. Select Premium is a percentage of the total Policy Premium, excluding certain Line Items.
    3. In the Line Items to Include in Min/Max Premium Group section, select the line items you want to include in the group. Select the folders to view all of the available line items.
    4. Select Save.