PBP General
What does PBP stand for?
Premium Builder Payments
How much of the New Business Premiums count for PBP?
6 Months for Auto and 12 Months for Fire
What does P&C Stand for? Also, what type of policies are those?
Property & Casualty - Auto and Fire policies
What system does an agent use to find their payment reports?
Control D
What is a Chargeback and how does if affect PBP
A chargeback is what happens to the premiums when a policy has a cancellation or change that impacts the premium paid. Chargebacks on new business offset any new auto or fire premium transactions
What counts for PBP - Be Specific
All New Auto and Fire Business Premiums
What is the premium timeframe for compensation to be paid to an agent? Hint: When premium is received and applied.
Any New Auto or Fire Premium issued and paid between the 1st of the month through the 15th of the month, will show in the end of that month's reports. Example March 1st -15th paid premiums would show on March 31st pay.
Any New Auto or Fire Premium issued and paid between the 16th of the month through the end of the month, will show in the 15th of the following month's reports. Example March 16th - End of Month paid premiums would show on April 15th pay.
What are the two AMDs for PBP? Are they specific to an agreement type?
Yes, AMD 86.2 (AA05) and AMD 97.3 (MOA)
What are the specific report Names or Numbers used to track, calculate and pay an agent PBP?
Agtcomp Recap - RIZPB004 (to see payment)
Agtcomp Pol Detail - RIZPB00C (Auto) and RIZPB00D (Fire)
RIZPB006 - PBP Detail -
Where can a Sales Leader or Agent find information on the Economic Index Factors. - Provide the exact path/location.
ABS>Agent Admin>Contracts and Compensation>AA05>Premium Builder>Economic Index Factor
What does Personally Produced mean?
Any policy that is bound in the agent's office
How long is an agent eligible for PBP
Up to 5 Years
List the Lines of business (companies) that we calculate new business premiums.
What dates should the agent use to see the PBP Detail report?
15th and End of the following month
What is Markel and does if affect PBP? If so how>
Markel is also known as - State Farm Specialty Products and yes they do affect PBP as they are included in PBP Fire calculations.
What types of policies count for PBP?
New SF Auto and Fire Policies
When would the agent see the PBP paid to them?
on the 15th and End of the following month
What type of premium will reduce an Agents PBP payment
Assigned Compensation
What does the Economic Index Factor do to an agent's PBP payment?
It can increase or decrease the PBP payment
In which states are Facility Premiums calculated?
North Carolina
Are there any policy types excluded? - Be specific
Yes, JUA/AIP, GAINSCO, Trupanion (Pet Med) and Doverbay (Excess and Surplus)
Is there a time period where PBP is only calculated for less than a full month? - Be Specific
Yes, in the 4th pay period for an AA05 and 2nd pay period for a MOA
Do all auto and fire premiums count for PBP?
No, only new auto and fire premiums are calculated.
What transaction indicators are used in the Control D reports for premium transactions? What do they mean?
P = Personally Produced
R= Renewal
N= New
A= Assigned
What is AMD66 and how does it affect PBP
AMD66 pays an agent a lesser commission rate as the policy is not bound in their office. Any compensation earned from this policy is considered Assigned Compensation and will offset the agent's PBP payment.