Note: Users must have the authority,"Issue Endorsement," (Policy Processing group) to issue an Endorsement transaction.
An Endorsement is any change to the policy (i.e., altering coverages, changing territories, adding / deleting policy coverages or individuals listed on a policy). Although there is no direct effect on premium, even changing the spelling of a client's name is performed by issuing an Endorsement.
An Out-of-Sequence Endorsement is the result of processing multiple Endorsements on a single policy out of chronological order.
To submit an Endorsement transaction:
Access the client's policy.
From the Navigation / Transaction Links Pane on the left, click Endorsement.
Once the Transaction Information screen displays, enter or select the following:
Effective Date: Defaults to the system date; change if necessary.
Transaction Type: Select Endorsement from the combo box.
Transaction Source: Select a Transaction Source from the combo box; the individual requesting the change.
Transaction Reason: Choose the appropriate Endorsement transaction reason from those listed.
Remarks: Enter any comments that relate to the Endorsement. The remarks entered are printed on the Declarations page generated for the endorsement.
Reference: Transaction related reference number; entry is company specific.
Transfer To: Select the User option button and identify to whom the transaction (task) is assigned from the combo box. Select the Queue option button to designate the task’s assigned user queue.
Select the Submit button.
Make the necessary changes / updates to the policy.
Select Rate.
Once the Endorsement has been successfully rated, select the Issue button. Issuing the endorsement puts the changes in effect on the date specified.
If your company would like to default all Endorsements transactions as quotes, the system setting, "Disable Transaction Quote," in the Diamond System Editor needs to be set to "False."
To see any changes made to the policy:
Click the Summary of Changes link after rating a policy containing an Endorsement, or
Click the Summary of Changes link after rating and issuing the policy having an Endorsement.
If the policy has an EFT Pay Plan (Agency Portal), when a user selects the Billing Info Tab they are forced to verify the EFT Authorization and review contractual considerations with the insured for failed payments. In order to continue processing the policy, they can either Accept or Decline. If they Decline, a validation is presented: "Select an alternate Pay Plan in order to process the policy." Agents must then select a non- EFT Pay Plan in order to process the policy in Diamond. If they agree, they can then choose the Proceed button to continue with the policy.
This verification is for New Business and Endorsements only and must be configured prior to use. Additionally, the verification will not occur on Pay Plan changes that originate from the Billing Statement screen.