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Revision as of 08:45, 18 December 2024

This page explains how underwriters should evaluate and process requests to update the insured name on an NFIP policy. Common reasons for name changes include correcting errors, adding or removing a named insured, or reflecting legal updates like marriage or divorce. The goal is to maintain compliance with NFIP guidelines while ensuring the policy's integrity.

Categories of Name Changes

Type	Description	Documentation Requirements	Effective Date Rule
Name Corrections	Fix typographical or factual errors in the insured name without changing the insurable interest.	Government-issued ID, proof of ownership, or other documentation showing the correct name.	Use the inception date of the current policy term.
Adding a Name	Add an additional policyholder to the policy without removing the existing insured party.	Signed written request specifying the added name and their relationship to the property.	Use the date of the request or a documented event.
Removing a Name	Remove a policyholder while ensuring at least one valid named insured remains on the policy.	Signed written request from the insured being removed or legal documentation supporting the removal.	Use the date of the request or the inception date of the current policy term for retroactive changes.
Policy Assignment	Transfer ownership and insurable interest to a new policyholder, removing the previous insured party.	Legal documentation of the transfer, such as a sale agreement, deed, or assignment form signed by all parties.	Use the closing or transfer date, provided all documentation is received within NFIP timelines.
Updating a Name	Update an insured name to reflect a legal change (e.g., marriage, divorce, court order).	Legal documentation such as a marriage certificate, divorce decree, or court order reflecting the updated name.	Use the date of the legal event (e.g., marriage, court order) or another documented date supported by NFIP rules.

Procedural Steps

Receive and Categorize the Request
- Open the agent-submitted request in Equinox and categorize it under the appropriate reason for the change (see Categories of Name Changes).
Verify Documentation
- Confirm the required documents are attached and validate their accuracy (e.g., legal documents for name updates, signed requests for additions/removals).
Check Compliance
- Ensure that the change does not alter ownership (except for Policy Assignments).
- Verify that at least one named insured with valid insurable interest remains on the policy.
Determine the Effective Date
- Use the effective date guidelines:
  - For legal updates, use the date of the legal event.
  - For corrections, use the policy inception date.
  - For additions/removals, use the request date or the policy inception date for retroactive changes.
Take Action in Equinox
- Update the policy record with the approved name change.
- If the request is Rejected or Pended, document the reason and communicate the outcome to the submitting agent.
Document the Action
- Record the decision and supporting documentation in the policy notes.
- Ensure all changes comply with NFIP guidelines and that the policy remains intact.

Additional Resources

NFIP Guidelines Reference: Link to the relevant section of the NFIP Flood Insurance Manual.
Equinox Quick Guide: Step-by-step instructions for updating name changes in the platform, with screenshots.
FAQs for Agents: Common agent questions about name changes, such as "What documentation is required for adding a co-insured?"

@@ Line 1: / Line 1: @@
-Can I get my dec page? Can you issue the policy? (service)
+This page explains how underwriters should evaluate and process requests to update the insured name on an NFIP policy. Common reasons for name changes include correcting errors, adding or removing a named insured, or reflecting legal updates like marriage or divorce. The goal is to maintain compliance with NFIP guidelines while ensuring the policy's integrity.
-Can you fix this <system element> error? (service)
+==== Categories of Name Changes ====
+{| class="wikitable"
+!'''Type'''
+!'''Description'''
+!'''Documentation Requirements'''
+!'''Effective Date Rule'''
+|-
+|'''Name Corrections'''
+|Fix typographical or factual errors in the insured name without changing the insurable interest.
+|Government-issued ID, proof of ownership, or other documentation showing the correct name.
+|Use the inception date of the current policy term.
+|-
+|'''Adding a Name'''
+|Add an additional policyholder to the policy without removing the existing insured party.
+|Signed written request specifying the added name and their relationship to the property.
+|Use the date of the request or a documented event.
+|-
+|'''Removing a Name'''
+|Remove a policyholder while ensuring at least one valid named insured remains on the policy.
+|Signed written request from the insured being removed or legal documentation supporting the removal.
+|Use the date of the request or the inception date of the current policy term for retroactive changes.
+|-
+|'''Policy Assignment'''
+|Transfer ownership and insurable interest to a new policyholder, removing the previous insured party.
+|Legal documentation of the transfer, such as a sale agreement, deed, or assignment form signed by all parties.
+|Use the closing or transfer date, provided all documentation is received within NFIP timelines.
+|-
+|'''Updating a Name'''
+|Update an insured name to reflect a legal change (e.g., marriage, divorce, court order).
+|Legal documentation such as a marriage certificate, divorce decree, or court order reflecting the updated name.
+|Use the date of the legal event (e.g., marriage, court order) or another documented date supported by NFIP rules.
+|}
-Where do I get my commissions statement? (information)
+==== Procedural Steps ====
-Where is the policy jacket/form? (information)
+# '''Receive and Categorize the Request'''
+#* Open the agent-submitted request in Equinox and categorize it under the appropriate reason for the change (see Categories of Name Changes).
+# '''Verify Documentation'''
+#* Confirm the required documents are attached and validate their accuracy (e.g., legal documents for name updates, signed requests for additions/removals).
+# '''Check Compliance'''
+#* Ensure that the change does not alter ownership (except for Policy Assignments).
+#* Verify that at least one named insured with valid insurable interest remains on the policy.
+# '''Determine the Effective Date'''
+#* Use the effective date guidelines:
+#** For legal updates, use the date of the legal event.
+#** For corrections, use the policy inception date.
+#** For additions/removals, use the request date or the policy inception date for retroactive changes.
+# '''Take Action in Equinox'''
+#* Update the policy record with the approved name change.
+#* If the request is '''Rejected''' or '''Pended''', document the reason and communicate the outcome to the submitting agent.
+# '''Document the Action'''
+#* Record the decision and supporting documentation in the policy notes.
+#* Ensure all changes comply with NFIP guidelines and that the policy remains intact.
-What else is needed to get this policy cancelled? (problem solving) - ''Enhancing the pending documentation feature to email the agents what exactly is needed on a pending request should help''
+==== Additional Resources ====
-Can you help me with an application? (service)
+* '''NFIP Guidelines Reference''': Link to the relevant section of the NFIP Flood Insurance Manual.
+* '''Equinox Quick Guide''': Step-by-step instructions for updating name changes in the platform, with screenshots.
-Where is the payment that was sent <number> days/weeks ago? (information) - ''Make sure our letters have 7-14 business days, make sure refund letters have the mailing address''
+* '''FAQs for Agents''': Common agent questions about name changes, such as "What documentation is required for adding a co-insured?"
-Can you help me get logged into the system? (service)
-Can you help my policyholder get logged into the consumer portal? (service)
-Can you fix the policy effective date? The loan closing date changed. (service) - ''Maybe instead of Policy Actions, we change to Request a Change''
-Can you fix the property address? I entered the wrong one. (service)
-Why was the effective date changed? (information/problem solving)
-Why are you asking for more premium? (information) - ''better letters to explain the entire situation as to why the premium changed (thinking claim reformation as example)''
-Where did this refund check come from? (information) - ''this might be because the letter doesn't get mailed with the check.''
-Can you check my application to make sure it’s all correct? (service/assurance)
-I need to make a payment. (service)
-I need to update the mortgagee. (service)
-What’s your email address? (information) - ''this should be listed on the agency dashboard? At least tell them how to access the message center within the policy in question?''
-What’s your overnight address? (information) - ''this should be listed on the agency dashboard?''
-What’s this letter all about, I need you to make sense of it for me. (information)
-How can i get my loss history (information NFIP phone #) ''- redirect to the bureau, maybe make this a policy action item?''
-I have not received my refund check (problem solving/service)
-I didn't get my download last night (Ivans) (service)
-I need to change coverage/deductible for my upcoming renewal (service)
-I didn't receive the email that was sent to me earlier today.  (service)
-Why don't we get paid commission on all premium submitted ? (service)
-How can I add another email address for electronic delivery of commission statements (service)
-Can you reset my password for me?  (service) - ''the system should be doing this? If not, what was the blocker?''
-Can you redirect the refund check to another address? (service)
-Where can I submit a completed Agent of record request? (service)
-Where can I obtain the agent of record or broker form? (service)
-How are AOR's processed for company XXXXX, mid term or just at renewal? (service)
-How do I get access to Agency reports?  (service)
-How do I add a state to my login? (service)
-How do I do a name change on my account?  ( name field should be locked down, allowing the agt/user to update his/her email address but not the agent name without Company approval)  (service)
-My FEIN number has changed, how does that get updated? (service)
-My Ivan's mailbox has changed how do I update? (service)