Underwriting issues and editing the effective date in policy change

Approvals valid for a specific amount of time

In an unbound policy change, a new underwriting issue may be approved for a specific amount of time. If the effective date changes, PolicyCenter recalculates the expiration date of the approval based on the new effective date.

For example, an underwriter approves an issue for three years:

• Policy change effective date: 02/01/2010
• Approval expires: 02/01/2013

The agent changes the effective date, and PolicyCenter adjusts the underwriting approval expiration:

• Policy change effective date: 03/01/2010
• Approval expires: 03/01/2013

Approvals with expiration dates

When the user changes the effective date of a policy change, PolicyCenter reevaluates approvals that have an expiration date. For the approval to remain in effect, the new effective date must be before the expiration date of the approval. An approval that had expired on the original date must be reevaluated to determine if it is valid on the new date.

For example, an underwriting issue is approved because the policy change effective date is sooner than the approval expiration date:

• Original policy change effective date: 02/01
• Approval expiration date: 02/05

After the effective date is changed, the approval is no longer in effect:

• New Policy change effective date: 02/08
• Approval expiration date: 02/05

Approvals invalid from next edit

Editing the effective date of a policy change expires an approval if the approval becomes invalid from the next edit.

Rule sets, Gosu code, and editing the effective date

In your custom rule sets and Gosu code for handling underwriting issues and approvals, editing the effective date of a policy change might require special handling by that code.

For example, assume the code of an underwriting issue rule creates an underwriting issue if the effective date is before June 1, 2010. An agent creates a policy change effective on May 1, 2010 that triggers that rule to create an underwriting issue. Later, the agent changes the effective date to June 2, 2010. Because the effective date is after June 1, the underwriting issue is now invalid. PolicyCenter automatically keeps that underwriting issue. The rule set or Gosu code needs to handle removing it.