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📋 '''Premium bordereau''' is a detailed, itemized report that a [[Definition:Coverholder | coverholder]], [[Definition:Managing general agent (MGA) | MGA]], or [[Definition:Producing broker | producing broker]] submits to an [[Definition:Insurance carrier | insurer]] or [[Definition:Reinsurer | reinsurer]], listing each individual [[Definition:Policy | policy]] written, renewed, or endorsed under a [[Definition:Delegated underwriting authority (DUA) | delegated authority]] or [[Definition:Reinsurance | reinsurance]] arrangement during a specified reporting period. It serves as the primary mechanism by which the risk-bearing entity gains visibility into the business being bound on its behalf, providing policy-level detail on [[Definition:Premium | premiums]], coverage terms, [[Definition:Insured | insured]] names, effective dates, limits, and other transactional data.

📊 Typically submitted on a monthly or quarterly basis — depending on the terms of the [[Definition:Binding authority agreement | binding authority agreement]] or reinsurance contract — the premium bordereau enables the insurer or reinsurer to reconcile premiums owed, monitor [[Definition:Portfolio management | portfolio]] composition, verify compliance with authority limits, and feed data into [[Definition:Reserving | reserving]] and [[Definition:Actuarial analysis | actuarial]] processes. At [[Definition:Lloyd's of London | Lloyd's]], bordereaux reporting is subject to market standards and oversight by the [[Definition:Performance Management Directorate | Performance Management Directorate]], with specific formatting and data quality requirements that managing agents must enforce on their coverholders. In [[Definition:Treaty reinsurance | treaty reinsurance]] arrangements, the ceding company submits premium bordereaux to the reinsurer to support [[Definition:Premium settlement | premium settlements]] and to enable the reinsurer to track its accumulations and exposure by geography, peril, or line of business. The shift toward digital platforms and standardized data schemas — including initiatives like Lloyd's Blueprint Two and ACORD messaging standards — is gradually replacing manual, spreadsheet-based bordereaux with automated data pipelines, though legacy processes persist in many markets.

🔑 Accurate and timely premium bordereaux reporting is far more than an administrative formality — it is the connective tissue of [[Definition:Delegated underwriting authority (DUA) | delegated authority]] relationships and reinsurance programs. Poor bordereaux quality or chronic late reporting can obscure emerging [[Definition:Loss | loss]] trends, delay [[Definition:Premium | premium]] collection, undermine [[Definition:Reserving | reserve]] adequacy, and breach contractual obligations that may entitle the [[Definition:Reinsurer | reinsurer]] or insurer to suspend or terminate the arrangement. For [[Definition:Underwriter | underwriters]] evaluating whether to continue supporting an MGA or coverholder, the quality of bordereaux data is often a proxy for the quality of the operation itself. As the industry moves toward real-time data exchange, the traditional periodic bordereau is evolving — but its core function, providing granular transparency into delegated business, remains indispensable.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Claims bordereau]]
* [[Definition:Binding authority agreement]]
* [[Definition:Delegated underwriting authority (DUA)]]
* [[Definition:Coverholder]]
* [[Definition:Managing general agent (MGA)]]
* [[Definition:Treaty reinsurance]]
{{Div col end}}

Definition:Premium bordereau - Revision history

PlumBot: Bot: Creating new article from JSON