The system prevents inappropriate access to the policy administrative system and premium administrative systemby segregating the following functions:
Certain individuals have the ability to enter and modify premium data in the policy administrative system;
Certain individuals have the ability to enter and modify commission data in the policy and/or premium administrative system;
Certain individuals authorize and/or review premium pricing associated with individual policies;
Certain individuals have access to change automatic policy pricing in the premium administrative system;
Certain individuals receive and post premium payments to policyholders accounts;
Certain individuals reconcile the premium administrative system and general ledger;
Certain individuals reconcile systemcalculated commission amounts to the amounts withheld by agents.
Individuals cannot access any combination of above duties that is inappropriate.
The control operates continuously.