Coverage symbol groups

Coverage symbol groups apply only in the commercial auto line. A commercial auto policy prints these symbols on the policy declarations page to indicate the types of coverages in effect.

During the submission process, PolicyCenter uses a set of rules to assign the initial coverage symbols from the selected coverages. Some insurers use the automatic symbol assignment as specified by the rules, without changes. Other insurers allow certain individuals to amend the automatically-generated coverage symbols. In PolicyCenter, only someone with the Edit covered auto symbols permission (editautosymbol) can modify the default symbol assignment.

You add coverage symbol groups in Product Designer in the Coverage Symbol Groups page of policy lines that have the necessary backing data to support them.

In the base configuration, the following appear only for the commercial auto policy line pattern:

  • In Product Designer, the Coverage Symbol Groups link under Go to and the corresponding Coverage Symbol Groups page
  • In PolicyCenter, the Covered Vehicles screen that displays a list of coverages and coverage symbols that can be edited by a user with the appropriate permissions, as previously explained

Symbols

Symbols are specific to the line of business. The insurance industry sets the definition of symbols. For copyright reasons, PolicyCenter does not include the industry standard symbols, but you can add them in. In the base configuration, the CoverageSymbolType typelist defines the following symbols:

Code

Meaning

ANY

Any Vehicle

OVO

Owned Vehicles Only

OPV

Owned Private Passenger Vehicles Only

OCV

Owned Commercial Vehicles

SRC

Compulsory State Requirement

DVO

Designated Vehicles Only

HVO

Hired Vehicles Only

NOV

Non Owned Vehicles

CUS

Custom Definition

PolicyCenter includes an extra coverage symbol designated as a custom symbol (CUS). It is only available to someone with the Edit covered auto symbols permission (editautosysmbol). If you select this coverage symbol, you can enter a free-form text description.

Business purpose of symbols

Your choice of symbols is important because not only do they describe selected coverages, they also trigger coverages. For example, suppose the insured purchased a new vehicle that was in an accident prior to an endorsement request. A covered auto symbol of ANY or OVO on liability coverage would dictate that the new vehicle automatically had coverage. Therefore, a liability claim would be paid. However, if instead you chose HVO, the new car would not have liability coverage because it had been purchased. The vehicle would require a backdated endorsement for the claim to be covered.

PolicyCenter usage

Within PolicyCenter, you create coverage symbol groups and specify coverage symbols within the policy line. You then can specify the coverage symbol group to which each coverage pattern belongs.

Configure coverage symbols in the Gosu enhancement gw.lob.ba.BusinessAutoLineEnhancement, which enhances business auto line objects. The enhancement method setCoveredAutoSymbols configures which coverage auto symbols to select by default in PolicyCenter.