How To Create a Premium-reducing Endorsement
Jack Brown
18 steps
37 seconds
Useascend
1
Navigate to [https://dashboard.useascend.com/programs](https://dashboard.useascend.com/programs)
2
Select the program that you want to endorse
Note that this action is only possible on Active programs
3
Click "Actions"
4
Click "Endorse"
5
Click "Reduce premium"
6
Select the policy you want to endorse
7
Click the "Endorsement identifier\*" field and enter an endorsement number
8
Click the "Endorsement effective date\*" field and select the effective date of the endorsement
9
Click the "Premium reduction\*" field and enter the decrease in premium
10
Click the "Reduction of all other fees\*" field and enter in the reduction in taxes and fees
11
Click the "Return premium\*" field and enter in the amount of return premium your company will be returning
Note that this should match up with the net amount due on your endorsement invoice
12
If endorsing a direct bill insured program, you will also need to calculate and enter the unearned commission due back from the partner (retailer/wholesaler). Ascend will automatically collect these funds back from the partner.
13
Click "Upload a file" and attach your endorsement invoice
14
Click the "Reason for endorsement" field to enter a reason for the reduction in premium
15
Click "Create endorsement"
Now that the endorsement has been created, you can initiate the transfer of return premium. You can wait to do this step until you've either received return premium from the carrier or taken a credit on your statement.
These next steps can only be performed by someone with Admin or Accounting permissions in Ascend
16
Click "Balance"
17
Click the line item for the endorsement you created
18
Click "Make payment"
Once the payment finishes processing, Ascend will initiate the transfer of return premium back to the recipient
How To Create a Premium-reducing Endorsement
Jack Brown
18 steps
37 seconds
Useascend
1
Navigate to [https://dashboard.useascend.com/programs](https://dashboard.useascend.com/programs)
2
Select the program that you want to endorse
Note that this action is only possible on Active programs
3
Click "Actions"
4
Click "Endorse"
5
Click "Reduce premium"
6
Select the policy you want to endorse
7
Click the "Endorsement identifier\*" field and enter an endorsement number
8
Click the "Endorsement effective date\*" field and select the effective date of the endorsement
9
Click the "Premium reduction\*" field and enter the decrease in premium
10
Click the "Reduction of all other fees\*" field and enter in the reduction in taxes and fees
11
Click the "Return premium\*" field and enter in the amount of return premium your company will be returning
Note that this should match up with the net amount due on your endorsement invoice
12
If endorsing a direct bill insured program, you will also need to calculate and enter the unearned commission due back from the partner (retailer/wholesaler). Ascend will automatically collect these funds back from the partner.
13
Click "Upload a file" and attach your endorsement invoice
14
Click the "Reason for endorsement" field to enter a reason for the reduction in premium
15
Click "Create endorsement"
Now that the endorsement has been created, you can initiate the transfer of return premium. You can wait to do this step until you've either received return premium from the carrier or taken a credit on your statement.
These next steps can only be performed by someone with Admin or Accounting permissions in Ascend
16
Click "Balance"
17
Click the line item for the endorsement you created
18
Click "Make payment"
Once the payment finishes processing, Ascend will initiate the transfer of return premium back to the recipient
