NFIP New Business - Revision history

WikiAdmin at 19:09, 3 December 2024

2024-12-03T19:09:54Z

← Older revision		Revision as of 12:09, 3 December 2024
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	* [[Statutory discounts]] and [[Mitigation discounts]] are based on building features, so review structural details as needed to apply them correctly.		* [[Statutory discounts]] and [[Mitigation discounts]] are based on building features, so review structural details as needed to apply them correctly.

	~~{{needsedit}}~~{{line-nfip-newbiz}}		{{line-nfip-newbiz}}

2024-12-02T17:04:43Z

Best Practices

← Older revision		Revision as of 10:04, 2 December 2024
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	* Buildings under construction do not need a special policy type. "Builder's Risk" coverage is provided by the [[Standard Flood Insurance Policy]].		* Buildings under construction do not need a special policy type. "Builder's Risk" coverage is provided by the [[Standard Flood Insurance Policy]].
	* [[Elevation Certificate\|Elevation Certificates]] have been optional since October 2021, but they may reduce premiums.		* [[Elevation Certificate\|Elevation Certificates]] have been optional since October 2021, but they may reduce premiums.
	* [[~~Statutory discount\|~~Statutory discounts]] and [[Mitigation ~~Discounts\|mitigation~~ discounts]] are based on building features, so review structural details as needed to apply them correctly.		* [[Statutory discounts]] and [[Mitigation discounts]] are based on building features, so review structural details as needed to apply them correctly.

	{{needsedit}}{{line-nfip-newbiz}}		{{needsedit}}{{line-nfip-newbiz}}

2024-12-02T17:04:02Z

Best Practices

← Older revision		Revision as of 10:04, 2 December 2024
Line 46:		Line 46:
	* Buildings under construction do not need a special policy type. "Builder's Risk" coverage is provided by the [[Standard Flood Insurance Policy]].		* Buildings under construction do not need a special policy type. "Builder's Risk" coverage is provided by the [[Standard Flood Insurance Policy]].
	* [[Elevation Certificate\|Elevation Certificates]] have been optional since October 2021, but they may reduce premiums.		* [[Elevation Certificate\|Elevation Certificates]] have been optional since October 2021, but they may reduce premiums.
	* [[Statutory ~~Discount~~\|Statutory discounts]] and [[Mitigation Discounts\|mitigation discounts]] are based on building features, so review structural details as needed to apply them correctly.		* [[Statutory discount\|Statutory discounts]] and [[Mitigation Discounts\|mitigation discounts]] are based on building features, so review structural details as needed to apply them correctly.

	{{needsedit}}{{line-nfip-newbiz}}		{{needsedit}}{{line-nfip-newbiz}}

2024-12-02T17:03:19Z

← Older revision		Revision as of 10:03, 2 December 2024
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	* [[Statutory Discount\|Statutory discounts]] and [[Mitigation Discounts\|mitigation discounts]] are based on building features, so review structural details as needed to apply them correctly.		* [[Statutory Discount\|Statutory discounts]] and [[Mitigation Discounts\|mitigation discounts]] are based on building features, so review structural details as needed to apply them correctly.

	{{~~draft~~}}{{line-nfip-newbiz}}		{{needsedit}}{{line-nfip-newbiz}}

2024-12-02T17:02:07Z

New Business Process for Agents

← Older revision		Revision as of 10:02, 2 December 2024
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	'''Start the Application in Equinox'''		'''Start the Application in Equinox'''
	* ~~[[Create NFIP Application\|~~Enter policyholder, property, and mortgagee information directly into the Equinox system]].		* Enter policyholder, property, and mortgagee information directly into the Equinox system.
	* Ensure all required details are accurate to facilitate real-time processing.		* Ensure all required details are accurate to facilitate real-time processing.

			{{call-eq
			\|message = [[Create NFIP Application\|Create NFIP Application in Equinox]]
			}}

	'''Generate and Tailor the Quote'''		'''Generate and Tailor the Quote'''

2024-12-02T17:00:43Z

New Business Process for Agents

← Older revision		Revision as of 10:00, 2 December 2024
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	* Collect the full premium payment from the insured and apply it through Equinox.		* Collect the full premium payment from the insured and apply it through Equinox.

	===Equinox Processing===		== Equinox Processing ==
	After the payment is processed through Equinox, one of two things will happen.		After the payment is processed through Equinox, one of two things will happen.
	# The policy declaration page will be automatically issued, or		# The policy declaration page will be automatically issued, or

2024-12-02T17:00:19Z

Equinox

← Older revision		Revision as of 10:00, 2 December 2024
Line 28:		Line 28:
	* Collect the full premium payment from the insured and apply it through Equinox.		* Collect the full premium payment from the insured and apply it through Equinox.

	===Equinox===		===Equinox Processing===
	After the payment is processed through Equinox, one of two things will happen.		After the payment is processed through Equinox, one of two things will happen.
	# The policy declaration page will be automatically issued, or		# The policy declaration page will be automatically issued, or

2024-12-02T17:00:05Z

New Business Process for Agents

← Older revision		Revision as of 10:00, 2 December 2024
Line 28:		Line 28:
	* Collect the full premium payment from the insured and apply it through Equinox.		* Collect the full premium payment from the insured and apply it through Equinox.

	====Equinox====		===Equinox===
	After the payment is processed through Equinox, one of two things will happen.		After the payment is processed through Equinox, one of two things will happen.
	# The policy declaration page will be automatically issued, or		# The policy declaration page will be automatically issued, or

2024-12-02T16:59:48Z

New Business Process for Agents

← Older revision		Revision as of 09:59, 2 December 2024
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	* Collect the full premium payment from the insured and apply it through Equinox.		* Collect the full premium payment from the insured and apply it through Equinox.

	~~'''~~Equinox ~~will process~~ the payment ~~and'''~~		====Equinox====
	* '''Automatically Issue the Policy''' if all required documents and details are complete.		After the payment is processed through Equinox, one of two things will happen.
	* '''Flag the Policy for Underwriter Review''' if ~~additional~~ documents or details ~~are required~~.		# The policy declaration page will be automatically issued, or
			# The policy will be forwarded to underwriting if documents or additional details need to be reviewed.

	'''Communicate with Underwriters (if needed)'''		'''Communicate with Underwriters (if needed)'''

2024-12-02T16:55:48Z

New Business Process for Agents

← Older revision		Revision as of 09:55, 2 December 2024
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	'''Process Payment and Submission'''		'''Process Payment and Submission'''
	* Collect the full premium payment from the insured and apply it through Equinox.		* Collect the full premium payment from the insured and apply it through Equinox.
	* Equinox will process the payment and:
	** '''Automatically Issue the Policy''' if all required documents and details are complete.		'''Equinox will process the payment and'''
	** '''Flag the Policy for Underwriter Review''' if additional documents or details are required.		* '''Automatically Issue the Policy''' if all required documents and details are complete.
			* '''Flag the Policy for Underwriter Review''' if additional documents or details are required.

	'''Communicate with Underwriters (if needed)'''		'''Communicate with Underwriters (if needed)'''