Settlement Fee Splits

Contents

Overview

This demonstrates how to set up and split a portion of a fee to pay another partner on the file. This is common in co-insurance situations or in states like Illinois where the attorney gets a portion of the premium.

Creating a Split

Click Add.
Enter a Name for the split.
Click Save.

Enabling the Split on a Partner

Admin/Partners

Search for the partner that should be able to utilize the split and click Edit.
Go to the Vendor Management tab and click on Settlement Fees.
Make sure the Partner Type selection matches the partner type that will be on the file when the split will be utilized.
Select Partner Specific fees.
Select a Product.
- If the split should only be available on a specific product or set of products, select those. If it can be available on all products, leave the selection as Default.
Select a State.
- If the split should only be available in a specific state, select it. If it can be available in all states, leave the selection as Default.
Highlight the fee from which the split should be made.
Click Edit.

Click Add in the Splits area.

Select the split created above in the Services Provided dropdown menu.
Select a Calculation type.
- If the split will vary on a file-by-file basis and will not be a standard amount or percentage, enter $0.00 as the amount. This will allow the split to be saved and added to the file; the amount can be entered when the split is added to the file.
Select a Based On setting. This will be used in conjunction with the calculation setting to calculate the split.
- If the split varies, leave this set to Premium.
If the split amount should be displayed on the settlement statement, select Disclose on Statement.
Set the split to Enabled.
If the split should be added to the file automatically when this partner is added to the file, click Auto-Add. If it should not be automatically added, do not check this option.
- If the option is not checked, users will have to manually add the split to the file. This is most common in cases where co-insurance happens with an underwriter and the underwriter is frequently on files, but not always providing co-insurance.
Click Save.

Repeat for any other lines that should have this split available.

Example on a File

File/General

Ensure that the partner with the splits available is on the file. If it’s not, add it using the Add Partner button.

Settlement/Title Charges tab

Highlight a line where the split created above is enabled.
- If the split is set to auto-add, it should be on the file when the file is created and no further action necessary.
Click Add in the Splits area.

Select the Partner who should be the recipient of the split.
If the selected partner only has one split enabled, the Service Provided dropdown will auto-populate. Otherwise, select the service.
Enter either a Flat Fee or a Percentage. This is the amount that the partner will be paid out of this settlement type.
- If a percentage is entered, it will calculate based on the premium unless the Based On calculation was changed during the set up process.
Click Save.

The newly added split will show as part of the settlement line.

Repeat for any other settlement fees that need splits added.

Updated on May 2, 2022