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NOBL Personal Funds in Trust Account

The Personal Funds Add-On manages the personal (non-fiduciary) funds agencies maintain in the trust bank account. There are three types of personal funds:

  • Private funds
  • Commission reserve funds
  • Interest earnings


A. Why NOBL Personal is Needed


This Add-On is needed to separate personal (non-fiduciary) funds from premium fiduciary funds. Personal funds are not subject to fiduciary regulations so they can be transferred out of the trust account as needed.


Policies underwritten for certain industries, such as trucking or construction are very dynamic. They are subject to numerous endorsements. Quite often they are cancelled and “unearned” commission must be reimbursed to the trust account. Using a commission reserve account in the trust bank account makes it easy to return unearned commissions to the trust.


B. What’s included

  1. Deposits and withdrawals of personal funds
  2. Automatic transfer of earned commission into the commission reserve fund
  3. Use of commission reserve funds to reimburse the “unearned” commission to the trust account following a cancellation endorsement

C. Management Reports

  • Personal Funds Summary
  • Commission Reserve Fund Report
  • More reports are also available

D. How It Works

  • Agency prepares source documents for Deposit/Withdrawal of personal funds
  • Agency enters the deposit/withdrawal data in NOBL
  • Agency uses NOBL to transfer "unearned" commissions to the trust


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