CAA Billing
CAA charges this finance fee percentage on automobile policies, even for group members.
What is 1.3%?
Unlike most carriers discussed, Intact requires this document for monthly payments.
What is a signed PAD form?
This type of cancellation occurs because the risk no longer meets company underwriting rules.
What is an underwriting cancellation?
Once a policy enters non-payment cancellation mode, the member may receive this opportunity.
What is an option to reinstate the policy?
A cancellation without any cancellation fee.
What is a pro-rata cancellation?
Monthly CAA payments can be made through these two payment methods.
What are credit card and pre-authorized bank account?
For Intact group members, these fees are waived.
What are interest/finance fees?
These EPIC activity codes may indicate underwriting cancellations or non-renewals.
What are RPTM, NRNW, and RPTN?
If reinstatement is unavailable, the insured must pay this amount.
What is the earned premium balance owing up to the cancellation date?
A cancellation where a cancellation fee is charged.
What is a short-rate cancellation?
CAA monthly withdrawal dates are based on this.
What is the policy effective/start date?
MAX handles billing separately for each of these.
What are individual locations?
When an underwriting cancellation is received, this team is assigned to help find a new market.
What is Broker Technical?
After a missed payment, insurers generally become aware of it within this time frame.
What is 5-7 days?
This carrier specifically does not charge any short-rate cancellation fees.
What is MAX Insurance?
This CAA system allows brokers to update banking or credit card information.
What is the Broker Experience Center (BEC)?
If one MAX location is overpaid, the excess money is handled this way.
What is a refund sent to that location?
Aviva and Intact policies often show this status immediately in EPIC after cancellation notices are received.
What is cancelled or lapsed?
Members should make reinstatement payments this many business days before the due date.
What is 3-5 business days?
Carrier manuals include this tool to estimate cancellation charges.
What is a short-rate fee table?
For a one-pay policy not paid by renewal, CAA may apply this action to the cancellation date.
What is backdating the cancellation to the renewal date?
MAX requires one of these or a pre-authorized payment form for monthly payments.
What is a void cheque?
Regardless of the carrier, there should always be one of these in EPIC documenting the cancellation
What is an attachment or registered-letter notice?
Some insurers may do this before beginning cancellation proceedings after a missed withdrawal.
What is attempting a second withdrawal/payment?
The Synergy article number referenced for cancellation procedures.
What is 000009243?