Policy Rewrite Pro-Rata

Note: To issue a Rewrite Pro Rata transaction, users must have the authority, "Issue New Business" (Policy Processing group).

Policy Rewrite Pro-Rata is very similar to the Policy Rewrite transaction except for one (1) difference. The difference between the Rewrite Full transaction and the Rewrite Pro-Rata transaction is if there is a new rating version that has been inserted between the time the policy was originally issued and when the Rewrite Full transaction is done, the new policy will get the new version and rates. If a Rewrite Pro-Rata transaction is done, the old policy's rating version will still be used no matter if a newer version exists or not.

Follow the steps below to issue a policy Rewrite Pro-Rata transaction:

1. Access the client's policy.

2. From the Navigation / Transaction Links Pane on the left, click Rewrite Pro-Rata.

3. Once the Transaction Information screen displays, enter or select the following:

1. • Transaction Effective Date: Defaults to the system date; change if necessary.

1. • Transaction Type: Select Rewrite Pro-Rata.

   • Transaction Source: Indicate the Transaction Source from the options available in the combo box: Additional Interest, Agent, Company, Insured or Policyholder.

   • Transaction Reason: The only option available is "Rewrite Pro-Rata."

   • Remarks: Enter any Remarks that apply to the rewrite pro-rata transaction.

   • Reference: Transaction related reference number; entry is company specific.

   • Payment Information: If payment was received with the transaction request, enter the payment data in the corresponding fields.

   • 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.

4. Choose Submit.

5. Make any changes necessary on the "Pending" image and click Rate to rate the policy.

6. Click Issue.