Changing the settlement currency

The preferred settlement currency, PreferredSettlementCurrency, is a field on the contact, account, and policy period entities.

In a job, the default settlement currency is the settlement currency on the account. In a job, you can pick a settlement currency from the Preferred Currency > Settlement drop-down list on the Policy Info screen. The list of Settlement currencies is populated from the Currency typelist.

A producer can quote a policy in any configured currency. However, when you bind or issue a policy, the producer of record must have the authority to bind the policy in the settlement currency. In the base configuration, the user interface enables you to select only one currency per producer code. You can configure PolicyCenter to allow more than one currency per producer code. You can view producer codes by navigating in PolicyCenter to the Administration > Producer Codes screen.