Policy effective Feb 14 with a CSDD of the 14th. What is the first and last debit month?
January-December
What code for PMS monthly payments indicates the Renewal debits?
11
What code signifies an internal cancellation?
PRN
What does NN559 signify?
Cancelled policy.
Can a policyholder can change their CSDD at any time during the policy term?
NO - only on renewal
For PMS one pay how many days until the policy would cancel due to non payment?
62 days
How many days in advance is a renewal issued in PMS?
45
If there is a CP on the policy, the insured can still pay on the effective date of the CP?
No. Payment must be received before the CP date. Either at Travelers or at the Broker's office.
What screen do you find why a policy is cancelled?
PISA
Where does the broker send a request to have a CSDD changed?
AINQ - excluding Alberta PI auto.
Policy effective April 8, CSDD is the 25th. What is the first debit month?
February
At what date will a 1 Pay renewal lapse?
Day 30
What code indicates a lapse due to non payment on a renewal?
PSD
What does NN557 signify?
Agency closed - non-renewal of the policy
Are there any special conditions for a 3 Pay policy?
Can only be on a 12 month policy.
What is the finance fee for an Ontario Home policy on 3 Pay?
3%
When is a Reminder Notice on a 1 and 3 Pay renewal is issued?
6-10 days after the renewal date or issued date whichever is greater.
What code indicates cancellation short rate insureds request?
SIO
What does code NN551 signify?
Active policy.
No - All refunds are in the form of a cheque
What code for PMS monthly payments indicates the new business debits?
10
Can the insured still pay if the renewal has been lapsed between 1-3 days?
No. Insured will have to speak to their broker.
What code indicates the policy canceled prorata insured request?
PIO
What code on the PIDB screen represents an additional premium policy change and a credit policy change?
12
22
For a 3 Pay policy, where the first instalment only has been paid. How will a credit policy change be handled?
It will be divided 50/50 over the 2nd and 3rd instalments