Policy Profile

The Policy Profile section of the Policy Information page contains the following fields:

Inception Date - This field contains the date the policy went into effect.

The calendar iconallows you to view and select dates from a calendar.

Expiration Date - This field contains the date the policy will expire.

Policy Premium - This field contains the total amount of premium for the policy. (For example, if the policy period is one year, then this would be the annual premium of the policy.)

Date Premium Due - This field contains the date the premium is due. (For example, if the premium is payable in installments this would be the due date of the premium installment.)

Premium Amount Due - This field contains the amount of premium currently due. (For example, if the premium is payable in installments, this would be the amount of the installment currently due.)

Explanation of questions pertaining to Policy Profile:
A surplus lines policy is one that is written by an Insurer who is licensed to do hard to place business in a particular state. If a Surplus Lines Carrier writes this policy, answer yes to this question. In some states, Surplus Lines policies are not regulated by the insurance code. In those states, a Surplus Lines policy will not be subject to the same notice conditions as non-surplus lines or admitted carriers are.

Answer yes to the question regarding a policy's first year of inception if the policy is new and has never been renewed. A yes response to this question is applicable only to Cancellation notices and will determine if the policy is within the Underwriting Period when the cancellation occurs. The response to this question will be ignored for notice types other than cancellation.

Answer yes to the question regarding retrospective rating if the policy is subject to this rating plan. Retrospective Rating on a policy results in a premium that is based upon the insured's actual loss experience during the policy term. This method of rating a policy generally applies to large commercial accounts. In some states, policies that are retrospectively rated are not regulated by the insurance code. In those states, a Retro-rated policy will not be subject to the same notice conditions as are policies that have premiums based upon standard rates.

A policy providing coverage in multiple states is one where there are multiple locations and risks in more than one state. If you answer yes to this question, you should carefully review the information for all states covered on the policy in ODEN^® State Rules & Regulations. A separate notice should be issued for each of those states that require regulation of their notice requirements be met in order to terminate or change the policy. This question is not applicable for Personal Lines.

Policy Record Activity
The Policy Record Activity section of the Policy Information page contains the following fields:

Creation - This field displays the login ID of the user that created the policy record and the date it was created in Policy Terminator^®.

Last Change - This field displays the login ID of the user that made the last changes to the policy record and the date they were made in Policy Terminator^®.

Link to Policy Help Page

Many features are controlled by user rights. If a feature does not appear as described in Help, the rights may not be set up to use that feature. Please contact your System Administrator. See the Disclaimer page for contact information.