Rewrite to new account on cancellation date

When you rewrite a policy to a new account, the effective date of the policy can be the cancellation date of the source policy. Policy transactions on the source policy have some restrictions.

In the illustration below, Account #1 is the source policy with a one year policy term starting on January 1. Account #1 is canceled, and has a cancellation date of July 1. Account #2 is the rewritten policy with an effective date of July 1 of that same year.

The following table shows restrictions for policy transactions on the source policy.

Policy transaction	Restriction
Submission	Not applicable.
Policy Change	Not allowed on and after the cancellation date of the source policy.
Cancellation	Not allowed on and after the cancellation date of the source policy. Does not differ from the usual behavior.
Reinstatement	The end of the term being reinstated cannot be after the cancellation date of the source policy.
Rewrite	Not allowed on and after the cancellation date of the source policy. Therefore, you cannot rewrite this policy.
Renewal	Not allowed on or after the cancellation date of the source policy.
Audit	Allowed.
Rewrite New Account	Not allowed.