See the NOVUS Walkthrough Guide for further information.
All new securities are created in the PARTNER program the same way, whether insurers, clients, silent agents, assessors, or consultants. Revenue accounts can also be set up in the PARTNER program, for the collection of different revenue streams such as: brokerage, bank fees, administration fees, and stamp duty - set up in the FEES program.
When a new partner is created, typing in the full name field will show a drop down with partners already created with a similar name, at this point an existing partner can be selected for editing.
Where you directly transact with a partner, the use of a proper name for the partner account code is advised; for example, "assured insured services" would create the code 'ASINSV" whilst "assured brokers ltd" would create "ASSUBS". For original assureds, the use of the system generated account code allocation (where NOVUS will assign a unique account code, much like a bank account number) is advised. This field is populated with the next system generated number by tabbing through the partner A/C field. This naming convention assists to differentiate between types of accounts and recognising accounts in the system quickly. When selecting a partner account code, special characters or spaces must not be used ( for example &,%,!.).
The roles of a partner are defined by a suffix, or if the partner is performing more than one role, more than one suffix. For a carrier use ‘.’, a client ‘*’, a third party/silent agent ‘-‘
A sanctions check can be requested in the PARTNER program by clicking sanctions check in the bottom right corner of the screen. This will put the sanctions check in the sanctions checker queue, which can be found in the additional tabs panel, in the sanctions checker tab.
The following fields are on the PARTNER screen. If mandatory fields (denoted by a *) are not completed, this will be noted in the bottom right-hand corner of the screen which will display a red cross. Clicking this will take you to the required mandatory fields that have not been completed. Once all required fields have been entered, a green tick (check mark) will replace the red cross and there will be a note to show that all required fields have been entered.
|Full Name*||Full name of partner|
|Partner A/C*||Account code (8 characters)|
|Short Name*||A short name for convenience (15 characters)|
|Account Type||Drop down list: "C" Company, "I" Individual, "O" Other|
|Trading As||The full trading name to be used on the cover note (for the market breakdown of underwriters)|
|Mail Codes*||Partners can be categorised into groups for mailings. Reportage can be produced to supply name and address for merging with standard letters. As all trading partners are held in one central location, they can be categorised into their typical role for mailing: overseas insurers, overseas brokers, solicitors, agents, marine brokers, marine insurers, clients etc. One partner may have multiple mailing codes|
|Organisation||This field can be used where head office arrangements apply or to group partners together for other internal reporting purposes|
|FAO||(For attention of) Name of main contact - as used in mailings|
|Suffixes||Carrier ‘.’, client ‘*’, third party/silent agent ‘-‘|
|Telephone (1)||Telephone number|
|Salutation||Appropriate version of the contact name for mailing: Sir, Mr Smith, James etc|
|Status||The account can be set to a status as defined in the CODES program. Typically, 'stopped', 'client letter' and 'under advisement'. If there are no restrictions leave as null. Stopped accounts cannot be used on a market and do not show in available partners list of values where used. The command console can be configured to capture the use of a partner with a specific code, for example: 'client letter', and an appropriate action/email/message can be performed such as to notify the compliance officer|
|Telephone (2)||Telephone number|
|Stopped*||Set this to ‘Y’ to prevent future use of this security as a client or a carrier on the market|
|Fax (1)||Fax number|
|Created On||Inserted by the system|
|Created By||Inserted by the system|
|Lat/Long (Location tab)||Latitude/Longitude of the address|
|Address 1 (Location tab)||First line of address|
|Address 2 (Location tab)||Second line of address|
|Address 3 (Location tab)||Third line of address|
|City/Town (Location tab)||City/town|
|Zip Code (Location tab)||Zip code|
|Country (Location tab)||Country|
|State (Location tab)||State|
|County (Location tab)||County|
|Cresta Zone (Location tab)||Cresta (Catastrophe Risk Evaluation and Standardising Target Accumulations)zone|
|Agency (Business Information tab)||Enter R, C or W as per FCA definitions, or Y or A for insurance|
|ERN (Business Information tab)||Employer reference number|
|FCA Client Class (Business Information tab)||FCA client classification|
|Country Red* (Business Information tab)||Country of the partner for the reporting purposes|
|FCA No (Business Information tab)||FCA registration number|
|Flood Zone Group (Business Information tab)||Flood zone group assigned in the CODES program|
|CH Ref (Business Information tab)||Companies House reference|
|No of policies (Business Information tab)||Number of policies - inserted by the system|
|NAIC/DUNS (Business Information tab)||National Association of Insurance Commissioners (NAIC) or Data Universal Numbering System (DUNS Dun and Bradstreet) number|
|No of Claims||Number of claims - inserted by the system|
|Fiscal Code||Enter the fiscal code for this partner|
|SIC Code||Select the SIC (Standard Industrial Classification)code for this partner|
|Co-Broker (Accounting tab)||Co-Broker account code for blocking account|
|Client (Accounting tab)||Client account code for blocking account|
|U/W (Accounting tab)||Underwriter account code for blocking account|
|Carrier ID (Accounting tab)||Bureau pseudonym or non-Lloyd's ID|
|Carrier ID No (Accounting tab)||Bureau syndicate number or non-Lloyd's reference|
|Currencies Allowed* (Accounting tab)||Partners can be configured to only be able to transact in certain currencies. Revenue accounts must have 'ALL'|
|Coverholder PIN (Accounting tab)||Lloyd’s cover holder personal identification number, if applicable|
|Hub||Select the hub from the drop down list|
|N/A Tax Codes (Accounting tab)||If a partner is exempt from a specific tax then this is configured by entering that tax code (1 character) as set up in the FEES program|
|VAT Status* (Accounting tab)||Zero rated or exempt|
|Class ID (Accounting tab)||Class reference (IUA)|
|Bureau Flag (Accounting tab)||Set this to Y if the security is a bureau. The system expects LYD, IUA and ILU to be the appropriate codes for Lloyd’s, International Underwriting Association (formerly PSAC/LIRMA) and Institute of London Underwriters respectively|
|Zombie (Accounting tab)||Select if this is a zombie account from the drop down list|
|Broker No (Accounting tab)||Lloyd’s registered broker number, if applicable|
|Revenue (Accounting tab)||Set this code to be a designated revenue account - The code must be 3 characters or less, typically: XBK - brokerage, XBS - stamp duty, XBA - administration fee etc. Taxes and fees can be collected within a revenue account for easy statement production on these dedicated accounts|
|LORS Code (Accounting tab)||Lloyd's outward reinsurance code|
|Turnover (Accounting tab)||Turnover required for reporting purposes|
|Employees||Enter the number of employees|
|Inward Bordereau Styles (Configuration tab)||Enter the risk profile, premium and claim style|
|Outward Bordereau Styles (Configuration tab)||SElect the booked and paid bordereau styles from the drop down list|
|Division List* (Configuration tab)|| Partners can be permitted to be used by users in one or more divisions. This facility can be used to control client or insurer availability to a particular division. For example if the company wants to have three associated agents of captive brokers working as separate divisions but must produce and maintain their own clients.
NB: In HELIX partners can only be configured to be used on the divisions if the user who creates these up has appropriate permission levels - as defined in the WHO program
|TOBA Start Date (TOBA tab)||Terms of business agreement start date|
|TOBA Annual (TOBA tab)||Terms of business agreement annually renewable Y/N|
|TOBA User (TOBA tab)||User responsible for managing the terms of business agreement - inserted by the system|
|Balances Tab||A list of balances for the partner|
|Sanctions Tab||A list of queued and passed sanctions for the partner account including details of requester,date and time reqested, and status|
Table of Contents
To create a new Partner Account
- Complete the full name and partner A/C fields
- Using the tab key, navigate through the fields completing relevant data, including the tabs at the bottom of the screen
- Once all necessary fields have been completed the green tick and note will display that all required fields have been completed, and the save button will be enabled.
NB: Creating a co-broker in a market setup will automatically prompt to put in that third party as a co-broker line. Setting up account codes in "client" and "U/W" will result in the selected account codes being used to book to on the market when this account is acting as a client or an underwriter.
To remove an Account
As with all codes used in a relational database, accounts cannot be removed. It is assumed that if it is no longer required the stop flag will be set to Y. The account may have been used in some capacity at some stage and thus must still be listed on the partner account codes table. This will prevent future use of the account on new markets.
If an account has been set up in error, please consult Morning Data for assistance in correcting this situation.
To edit an existing record
To edit an existing partner record in the PARTNER program, start to type the full name of the partner in the full name field. Autocomplete will return a list of values that contain the name you require. Once the partner has been selected, tab into the partner A/C field, and make any necessary changes. The save button will only be enabled if a change is made.
4.2.0 - Updated to the latest version.
V70M - This version contains a mechanism to minimize the occurrence of duplicate partner records i.e. records having the same name or ID.
V69M - message flag added to ensure message 143 W only displays once
V68J - FMX-451 Default stopped flag changes
V66P - (ENV-276) Integrate Sanctions Checker into NOVUS. Includes text on sanctions check situation and button to request adhoc sanctions check.
V50M - Inward and Outward Bordereau styles added
v47T - First version of this form to use the new style. No other updates except the restyle.