Note: Users must have the authority, "Issue Non Renewal," (Policy Processing group) to enter a policy Non-Renewal.
A Non-Renewal transaction may be processed on a policy image any time during its in-force period. The policy remains in effect until the expiration date, after which coverage is not renewed.
To process a non-renewal:
Access the client's policy for which the non-renewal will be done.
From the Navigation / Transaction Links Pane on the left, click Non-Renewal.
Once the Transaction Information screen displays, enter or select the following:
Transaction Effective Date: Defaults from the system date;change to correct date.
Transaction Type: Select Non-Renewal.
Transaction Source: Indicate the individual who is initiating the transaction from the combo box.
Transaction Reason: Choose any of the following from the combo box: Non-Renewal (Underwriting) Reason, Agency No Longer Licensed for this Line of Business or Closed Agency, Non-Renew Renewal Offer.
Remarks: Enter any comments that apply to the policy non-renewal.
Reference: Transaction related reference code; entry is company specific.
Transfer To: Select either the User or Queue option button and choose the appropriate user name or user queue to which the transaction task is assigned.
Select the Submit button. The system performs several internal checks to determine the completion of the Non-Renewal transaction.
The Policy Information screen automatically displays the non-renewal transaction with the message: "Non-Renew Date MM/DD/YYYY."
Click the Close button to exit the screen.
On the policy expiration date, coverage is not renewed and the existing policy image status changes to "History." When viewing the policy after the expiration date, the statement, "Historical Policy Data is Displayed," is noted as the policy status.
Special Notes About Non-Renewals...
A policy can be submitted as a Non-Renewal at any time within a policy's term. The Renewal Process will not create a Renewal image for a policy if it is marked for "Non-Renewal."
If a State has a rule indicating a policy cannot be renewed within 30 days (more or less) of its expiration date, implementation code can be added to use "Non-Renew Days" to prevent the policy from being non-renewed. (This field is not used by the Diamond Base Code.)
The "Non-Renewal Notice Days" setting is used to trigger the Non-Renewal Notice. For example, if it is set to 45 days, the Non-Renewal Notice will be triggered 45 days before the policy is set to expire.