Policy changes, suspension and renewal

Policies change during their life. This guide covers the changes beyond a simple endorsement: dating changes in the past or future, looking at a policy as it was, suspending cover, not renewing, rewriting, and renewing automatically.

Changes dated in the future

An endorsement whose effective date is after today is scheduled: it shows in the policy's Endorsements tab with the status Scheduled and nothing changes yet. The daily run applies it on its date, with its debit or credit note. Withdraw cancels it before then.

Changes dated in the past

An endorsement dated before today is marked back-dated. If another change has already been applied with a later date, it is also marked out of sequence, so whoever reviews the policy knows the order of events was unusual. A change can be back-dated by at most 90 days; only the main account can go further.

The policy as at a date

More > As at a date shows the policy as it stood at the end of any day: its status, sum insured, premium, end date, the items on cover that day and the changes in effect. Later changes are left out and counted. The date is kept in the address, so you can send the link to a colleague. Back to today closes it.

Suspending cover

More > Suspend cover stops cover from a date, until a date or until you resume it, for a laid-up car or an empty house. The customer is emailed. A claim for a loss inside the suspension fails the automatic coverage check. Resume cover starts it again; the suspended days stay on record.

Not renewing

More > Do not renew records the decision and the reason, and emails the customer the notice. The notice must reach them at least the product's notice period before the end (30 days unless the product says otherwise); otherwise the system refuses and you renew this once. You can also decide now and let the daily run send the notice on the first day of the notice period. Offer renewal again withdraws the decision.

Rewriting

When terms change so much that a new policy is cleaner (a car turned into a taxi, a change of product), More > Rewrite creates a new draft quote from the policy, starting on the date you choose. Change it and issue it as usual: at that moment the old policy is cancelled from that date, with the unearned premium credited, and the two are linked.

Renewal rules and automatic renewal

In the product's Renewal and lapse section:

• Renew automatically: policies renew themselves the chosen number of days before they end, unless marked do not renew. The customer is emailed the new policy.
• Renewal rules look at the expiring period: the number of claims, the amount claimed or the loss ratio. A rule adds its price change to the renewal premium; a rule marked Refer stops the automatic renewal and tells the policy team to decide.
• Highest increase at renewal caps the change, whatever the rules add.
• Grace period: how long premium can stay unpaid before the policy lapses. A warning is emailed a week before. Empty: the company default.

The renewal shows the rules that applied on the new policy under Renewal pricing.