HELP TOOLS
When this is present you must document the following in the "Interaction":
Description of use
Occupation
Name of employer
What is Business Use (Business Use KM)
This transaction on a manual task happens when the time frame of ceding has passed the policy effective date. It has to be ceded at least one day prior of the new effective date.
What is a Transaction Code D
Drivers receive the discount for the first year they enter level 2 (G2) from level 1 (G1) and for the first year
they enter full license (G) from level 2 (G2) provided they have not had any chargeable accidents or convictions at the prior license level. This can be applied on New Business, Policy Modification and Renewal.
What is a Graduated Licence Discount
On a new business or New Vehicle addition in rsp receive this report when and if a client has an accident within 15 days from the policy new business or vehicle addition effective date
What is a 15-day claims report
Half of this coverage premium is sent under the collision code. For midterm transactions, send half of the coverage premium prorated. If no collision on vehicle still open up coll code and send under the default deductible code of $500
What is Trouble Free or Worry Free Option
Related DAN: Primarily used by a tradesperson, a skilled worker who practices some trade or handcraft, and uses the vehicle in conjunction with this trade or occupation
What is Artisan Vehicle
Full premium is sent and when removed completely from the rsp policy only removed $1 as no prorating is done for this coverage.
What is stand alone endorsement 27
These points help to determine the threshold in declining a new business or renewal policy.
What is a Risk Points Chart
F- Tpl Limit of 3 Mil or greater, H- at fault claim, M- Reversal, J- First Change Discount (FCD) examples of these are seen when rsp receives manual task.
In the province of Alberta, drivers holding this graduated licensing level—restricted to learner conditions and requiring supervision—are not eligible for placement into the Residual Market (RSP) when they are listed as the principal operator of a vehicle.
What is PO Class 7
There are two types of these drivers: Under 25 or over 25 years of age, Licensed Less than 9 Years, Rate separately and sometimes not rated separately.
What is an occasional Driver
Used to cede a “class 05 or 06 driver” (occasional driver) when replacing an existing occasional driver on a policy.
This province insures a driver who qualifies for the First chance discount - licensed less than 6 years in North America, with no at-fault claims, no convictions and no licence suspensions (related to driving)
What is New Brunswick
Prorate standalone endorsement 27 from one rsp vehicle and prorate the endorsement 27 onto the next rsp vehicle
What is a vehicle deletion that has standalone 27 coverage
This private passenger book of business cession limit is unlimited
What is Grid
This discount offers relatively new principal drivers and occasional drivers who have perfect driving records, the opportunity to pay comparable rates to more experienced drivers with clean records. The discount is applied to the premium of the eligible driver for any private passenger vehicle(s) that they are rated on
What is First Chance Discount
In a particular province if a modification is process on a policy, this occurs when a Transaction code A and Transaction code 3 at the same time occurs.
What is Grid Switch
Claim occurs in 1st (15) days of inception, Drivers that have been charged, but not yet convicted of criminal activity, Where there is any indication of suspicious or fraudulent losses, moral hazard, Total review of risk, Modified vehicle, Drivers with a medical condition affecting the safe operation of the vehicle, High value vehicles - valued over $100,000. These are possible indicators to cede to transfer risk to the Risk Sharing Pool.
What are Manual Reasons
This is sent every night by around 2 am. At time errors are found and saved in the L drive. Agents have to work on these daily.
What is the Flat file
This insurance industry database, maintained by insurers across Canada, provides detailed personal automobile policy and claims history used by brokers and underwriting teams to verify coverage, assess risk, and ensure accurate rating when processing new business or renewals
What is Auto Plus
In Albert you receive this particular protection when , these eligible criteria's are met:
No at-fault accidents in the previous 6 years
No criminal code convictions in the previous 4 years
No major convictions in the previous 3 years
No more than 1 minor conviction in the previous 3 years
What is Good Driver Protection
This occurs when we have a mandatory coverages still active and non mandatory coverages gets deleted from the policy. When ceding this transaction this needs to happen.
What is a Transaction Code 3 and 9 or Split Sheet
The risk is required under the compulsory automobile insurance act of the jurisdiction to be insured in that jurisdiction, and the vehicle is registered in that jurisdiction as per the Highway Traffic Act.
The vehicle is a private passenger vehicle defined as…A four wheeled motor vehicle of the private passenger, station wagon or van type, designed for use on public highways and subject to motor vehicle registration.
The risk is insured for at least the minimum mandatory road coverage. You can transfer risks to the Pool where mandatory coverage has been temporarily removed or suspended.
The risk is rated and classified in accordance with our approved rules and rates on file with the regulatory body in that jurisdiction.
What is RSP Eligible Criteria
In Alberta’s Grid rating system, certain individualized rating adjustments tied driving behaviours. When this type of behavioural discount or surcharge appears on a ceded risk, the policy becomes automatically ineligible for cession due to its deviation from standardized Grid requirements.
What is Ajusto Discount
In Facility Association procedures, this specific provision sets a hard limit on how far back insurers can adjust or remove business. It restricts the ability to delete policies from the FA Portal once more than two years have passed from the effective date, ensuring historical records remain fixed and preventing retroactive alterations to long‑standing entries.
What is Sunset Clause