Prevent back-dating policy transaction to avoid underwriting hold

PolicyCenter prevents you from back-dating a policy transaction to avoid an underwriting hold. An insurer applies an underwriting hold to prevent new coverage being created in a region with an impending natural disaster. Potentially, an agent might try to circumvent an underwriting hold by back-dating the effective or written date of a policy transaction. For example, the agent starts a submission when a policy hold is in effect for submissions on that line of business. In an attempt to force PolicyCenter to issue the submission anyway, the agent sets the effective date of the submission to a date before the policy hold is in effect. If the agent issues the policy, the insurer has a high likelihood of having to cover claims on that policy.

To avoid this possibility, PolicyCenter determines that the underwriting hold is in effect if both of the following are true:

• The effective or written date of the object is less than the hold start date.
• The current date is greater than or equal to the hold start date.