Submit Policy Assignment: Difference between revisions

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{{collapsible-section
{{collapsible-section
|number = 1
|number = 1
|title = 1. Access Policy Record
|title = 1. Complete Policy Assignment Form
|content =
|content =
{{Box task
{{Box task
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{{collapsible-section
{{collapsible-section
|number = 2
|number = 2
|title = 2. Add, Edit, Delete
|title = 2. Access Policy Record
|content =
{{Attention|To transfer the policy to a new building owner, refer to '''[[Submit Policy Assignment]]'''}}
{{collapsible-details
|number = 21
|title = Add Insured
|content =
|content =
{{Box task
{{Box task
|image  = Img-proc-change-insured-add.png
|image  = Img-proc-actions-change-insured.png
|size    = 200px
|size    = 200px
|caption = After selecting the Add Insured button, choose either a co-insured or an additional insured.  
|alt    = An image showing the "Policy Changes" menu along the right side of the page.
|text    =  
|caption = Use the "Policy Changes" menu along the right side of the page.
When adding a new insured (co-insured or additional insured), click the "'''Add Insured'''" button in the upper right of the Policyholder section.
|text    = <big>'''Open the [[Policy Record]] to start'''</big>
* Select "Individual", "Business", or "Legal Trust"
To quickly navigate to the Policyholder section:
* Enter the contact details in the fields below.
* Find the '''Policy Actions''' block on the right
* All starred fields are required.
* Choose '''Policy Changes'''
* From the next menu, click the '''Policyholder''' or '''Co-insured''' option
Otherwise, scroll down to the Policyholder section manually.
}}
}}
'''Once all details are entered, click the "Save" button (move to Step 3 below).'''
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}}
}}
{{collapsible-details
{{collapsible-section
|number = 22
|number = 3
|title = Edit Insured
|title = 3. Add, Edit, Delete
|content =
|content =
<big>Use the '''Edit button''' (pencil icon) in the upper right of the Policyholder section.</big><br>
 
{{Img-proc-free
|style  = padding-top: 1em
|file    = Img-proc-change-insured-edit-icon.png
|size    = 500px
|caption = Use the Edit button (pencil icon) in the upper right of the Policyholder section.
}}
This will open the Insured fields for editing. <br>
Each insured (policyholder, co-insured, or additional insured) will have their own section for editing.
{{Box task
|image  = Img-proc-change-insured-edit-fields.png
|size    = 250px
|alt    = An image showing the options in the Policyholder section.
|caption = Make the appropriate entries to the policyholder details as needed.
|text    =
<big>'''Update Contact Details'''</big><br>
Changes to email address, phone number, and mailing address.<br>
{{Attention|If the mailing address is used to verify '''[[Primary Residence]]''', then it cannot be changed until a document has been submitted in its place.}}
}}
<big>'''Update Insured Name'''</big><br>
The policyholder’s name has been updated due to legal reasons (e.g., marriage, divorce).<br>
{{Docs-req|1=a signed request from the insured or legal document showing change to insured name}}
----
<big>'''Correct Insured Name'''</big><br>
The insurable interest does not change, but the policyholder’s name is incorrect.<br>
{{Docs-req|The agent must state that the name was incorrect on the application and there is no change to insurable interest}}
----
<div style="margin-top:10px;">'''Once all details are entered, click the "Save" button (move to Step 3 below).'''</div>
}}
{{collapsible-details
|number = 23
|title = Delete Insured
|content =
<big>Use the '''Delete button''' (trash can icon) in the upper right of the Co-insured or Additional Insured section.</big><br>
''The policyholder can be edited but not deleted.''
{{Img-proc-free
|style  = padding-top: 1em
|file    = Img-proc-change-insured-delete.png
|size    = 500px
|caption = Use the Delete button (trash can icon) in the upper right of the Co-insured or Additional Insured section.
}}
{{Docs-req|1=A signed request from the insured being removed or written evidence, like a deed, showing the insured no longer has insurable interest in the property.}}
{{Attention|If chosen by accident, this can be undone by clicking the '''Abort''' button in the upper right.}}
}}
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{{collapsible-section
{{collapsible-section
|number = 3
|number = 4
|title = 3. Choose Effective Date
|title = 4. Choose Effective Date
|content =  
|content =  
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Scroll to the top of the page to enter the effective date.  
Scroll to the top of the page to enter the effective date.  
* Enter the appropriate date (see table below).
* Enter the appropriate date.
* Backdating to the inception date is allowed for corrections.
* Backdating to the inception date is allowed for corrections.
* Choose "None" for the [[Waiting Periods|Waiting Period]].
* Choose "None" for the [[Waiting Periods|Waiting Period]].
'''''The Policy Change cannot be completed without choosing an effective date.'''''
'''''The Policy Change cannot be completed without choosing an effective date.'''''


<table class="wikitable">
<tr><th>Change Type</th><th>Effective Date Rule</th></tr>
<tr><td>Update Contact Details</td><td>Date of the request</td></tr>
<tr><td>Add Insured Name</td><td>Date of the request</td></tr>
<tr><td>Update Insured Name</td><td>Date of Request or Event</td></tr>
<tr><td>Correct Insured Name</td><td>Inception</td></tr>
<tr><td>Delete Insured Name</td><td>Date of Request or Event</td></tr>
</table>
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<!-- END OF COLLAPSIBLE SECTION -->
}}
}}
{{collapsible-section
{{collapsible-section
|number = 4
|number = 5
|title = 4. Review and Submit
|title = 5. Review and Submit
|content = Review the changes for accuracy and completeness before finalizing.<br>
|content = Review the changes for accuracy and completeness before finalizing.<br>
Once the effective date is entered, click the Issue button.
Once the effective date is entered, click the Issue button.

Revision as of 07:24, 11 March 2025

Policy Guide
Standard Flood Insurance Policy
Applications

Equinox Procedure
Waiting Periods : Occupancy Foundations : Discounts

New Business

Elevation Certificates
Primary Residence
BRCV : Venting : Condos

Renewals

Equinox Procedure
Billing Changes

Changes

Equinox Procedures
Mortgagee : Insured
Transfer of Ownership
Coverage Limits

Cancellations

Equinox Procedure
Request Forms : Signatures
Reasons : Documents

This Equinox Procedure is for Agents. Find a complete list here.

This procedure explains how agents can request a policy assignment. A policy assignment transfers an NFIP policy from the current policyholder to a new policyholder due to a change in ownership.

Procedural Steps

1. Complete Policy Assignment Form

An image showing the "Policy Changes" menu along the right side of the page.
Use the "Policy Changes" menu along the right side of the page.
Open the Policy Record to start

To quickly navigate to the Policyholder section:

  • Find the Policy Actions block on the right
  • Choose Policy Changes
  • From the next menu, click the Policyholder or Co-insured option
Otherwise, scroll down to the Policyholder section manually.

2. Access Policy Record

An image showing the "Policy Changes" menu along the right side of the page.
Use the "Policy Changes" menu along the right side of the page.
Open the Policy Record to start

To quickly navigate to the Policyholder section:

  • Find the Policy Actions block on the right
  • Choose Policy Changes
  • From the next menu, click the Policyholder or Co-insured option
Otherwise, scroll down to the Policyholder section manually.

3. Add, Edit, Delete

4. Choose Effective Date

Choose "None" for the Waiting Period and select the appropriate Policy Change Effective Date.

Scroll to the top of the page to enter the effective date.

  • Enter the appropriate date.
  • Backdating to the inception date is allowed for corrections.
  • Choose "None" for the Waiting Period.
The Policy Change cannot be completed without choosing an effective date.

5. Review and Submit

Review the changes for accuracy and completeness before finalizing.

Once the effective date is entered, click the Issue button.

  • The "Abort" button will exit without saving any details.
Click the Issue button to finish the policy change.

The system will process the change immediately.

  • A Declarations page with the updated information will be available in the Documents section of the Policy Record.
  • If a Renewal Notice exists and the policy has not expired, then a new Renewal Notice will be sent.

This page contains details about NFIP Policy Changes.
Find more NFIP information in the How To Endorse section of the Flood Insurance Manual.

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