Submit Change to NFIP Insured: Difference between revisions

Revision as of 08:55, 19 December 2024

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

This procedure explains how agents can request a change to the insured name on an NFIP policy using the Equinox platform. Insured name changes may include correcting errors, adding or removing a co-insured, or updating the name due to legal changes. Agents must provide accurate information and supporting documentation to process the request.

Types of Insured Name Changes

Type	Description	Required Documentation	Effective Date Rule
Name Correction	The insurable interest does not change, but the policyholder’s name is incorrect.	Signed policyholder request for correction.	Effective from the inception date of the current term.
Adding a Name	An additional policyholder is being added to the policy.	Policyholder’s signed authorization for addition.	Effective from the date of request.
Removing a Name	An existing name is being removed, which may affect insurable interest.	Policyholder’s signed authorization for removal.	Effective from the date of request.
Policy Assignment	Transferring insurable interest to a new policyholder and removing the current one.	Proof of ownership transfer and authorization by both parties.	Effective from the date of transfer.
Updating a Name	The policyholder’s name is updated due to legal reasons (e.g., marriage, divorce).	Legal documentation (e.g., marriage certificate, court order).	Effective from the date of legal change.

Procedural Steps

1. Access the Policy Record in Equinox

* Log in to the Equinox platform and locate the policy requiring the insured name change.

Click the **Policy Changes** option in the **Policy Actions** block on the right-hand side of the page.
Select **Insured Name Change** to open the insured name change request form.

2. Enter the Requested Changes

* Update the insured name details directly in the system, including:

 * Corrections to the name
 * Addition or removal of co-insureds
 * Updates due to legal name changes

Ensure all changes align with NFIP guidelines and reflect the policyholder’s instructions.

3. Submit the Name Change Request

* Review the updated details for accuracy and completeness.

Submit the insured name change request for processing.

4. Confirm Submission

* Review the submission confirmation to ensure the request has been processed.

Notify the policyholder of the successful name change.

Additional Details

NFIP Guidelines Reference: Guidance on insured name changes, including required documentation and timelines.
Equinox Quick Guide: Instructions for submitting insured name changes in the platform.
FAQs for Agents: Common questions about insured name changes (e.g., "What happens if the request is missing required documents?").

This page may need to be edited based on suggestions or concerns. Read more in the Discussion page.

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

@@ Line 2: / Line 2: @@
 {{eq-proc-agent}}
 {{box-summary
-|color = orange
+|color = blue
 |title =
-|text = This procedure provides agents with the steps to update the insured name on an NFIP policy. Changes to the insured name may be required due to legal name changes, property ownership transfers, or corrections to errors in the original application.
+|text = This procedure explains how agents can request a change to the insured name on an NFIP policy using the Equinox platform. Insured name changes may include correcting errors, adding or removing a co-insured, or updating the name due to legal changes. Agents must provide accurate information and supporting documentation to process the request.
 }}
-{{img-proc-nofrm
+== Types of Insured Name Changes ==
-|file = File:Flow-eq-quote-overview.png
+{| class="wikitable uw-details"
-}}
+!'''Type'''
-{{lorem}}
+!'''Description'''
+!'''Required Documentation'''
+!'''Effective Date Rule'''
+|-
+|'''Name Correction'''
+|The insurable interest does not change, but the policyholder’s name is incorrect.
+|Signed policyholder request for correction.
+|Effective from the inception date of the current term.
+|-
+|'''Adding a Name'''
+|An additional policyholder is being added to the policy.
+|Policyholder’s signed authorization for addition.
+|Effective from the date of request.
+|-
+|'''Removing a Name'''
+|An existing name is being removed, which may affect insurable interest.
+|Policyholder’s signed authorization for removal.
+|Effective from the date of request.
+|-
+|'''Policy Assignment'''
+|Transferring insurable interest to a new policyholder and removing the current one.
+|Proof of ownership transfer and authorization by both parties.
+|Effective from the date of transfer.
+|-
+|'''Updating a Name'''
+|The policyholder’s name is updated due to legal reasons (e.g., marriage, divorce).
+|Legal documentation (e.g., marriage certificate, court order).
+|Effective from the date of legal change.
+|}
 {{clear}}
+== Procedural Steps ==
 {{collapsible-section
 |number = 1
-|title = Step 1: Find the Policy
+|title = 1. Access the Policy Record in Equinox
 |content =
-Text of the information (edit this).<br>
+* Log in to the Equinox platform and locate the policy requiring the insured name change.
-{{img-proc-frm
+* Click the **Policy Changes** option in the **Policy Actions** block on the right-hand side of the page.
-|file = File:Img-eq-app-01.png
+* Select **Insured Name Change** to open the insured name change request form.
-|width = 600px
-}}
-Any other text below an image (edit image and this line).
 }}
 {{collapsible-section
 |number = 2
-|title = Step 2: Click "Check Out"
+|title = 2. Enter the Requested Changes
 |content =
-Text of the information (edit this).<br>
+* Update the insured name details directly in the system, including:
-{{img-proc-frm
+  * Corrections to the name
-|file = File:Img-eq-app-01.png
+  * Addition or removal of co-insureds
-|width = 600px
+  * Updates due to legal name changes
-}}
+* Ensure all changes align with NFIP guidelines and reflect the policyholder’s instructions.
-Any other text below an image (edit image and this line).
 }}
 {{collapsible-section
 |number = 3
-|title = Step 3: Find Billing Information
+|title = 3. Submit the Name Change Request
 |content =
-Text of the information (edit this).<br>
+* Review the updated details for accuracy and completeness.
-{{img-proc-frm
+* Submit the insured name change request for processing.
-|file = File:Img-eq-app-01.png
-|width = 600px
-}}
-Any other text below an image (edit image and this line).
 }}
 {{collapsible-section
 |number = 4
-|title = Step 4: Update Billing Information
+|title = 4. Confirm Submission
 |content =
-Text of the information (edit this).<br>
+* Review the submission confirmation to ensure the request has been processed.
-{{img-proc-frm
+* Notify the policyholder of the successful name change.
-|file = File:Img-eq-app-01.png
-|width = 600px
 }}
-Any other text below an image (edit image and this line).
+== Additional Details ==
-}}
+* '''NFIP Guidelines Reference''': Guidance on insured name changes, including required documentation and timelines.
-{{collapsible-section
+* '''Equinox Quick Guide''': Instructions for submitting insured name changes in the platform.
-|number = 5
+* '''FAQs for Agents''': Common questions about insured name changes (e.g., "What happens if the request is missing required documents?").
-|title = Step 5: Complete the Update
-|content =
-Text of the information (edit this).<br>
-{{img-proc-frm
-|file = File:Img-eq-app-01.png
-|width = 600px
-}}
-Any other text below an image (edit image and this line).
-}}
-== When to Use This Procedure ==
-# '''Legal Name Changes''': Updates required due to marriage, divorce, or other legal name changes.
-# '''Property Ownership Changes''': Reflects a new owner after a property sale, inheritance, or other transfer.
-# '''Administrative Corrections''': Corrects typos or inaccurate information entered during the policy application process.
-== 1. Verify Documentation ==
-Before initiating a name change, ensure the policyholder provides the necessary supporting documents:
-* '''Legal Name Changes''': Court order, marriage certificate, or legal name change certificate.
-* '''Ownership Changes''': Proof of property transfer (e.g., deed, sales agreement).
-* '''Corrections''': Policyholder’s identification and documentation confirming the accurate name.
-== 2. Confirm Eligibility ==
-Check that:
-* The policy is active and not pending cancellation.
-* The insured's request complies with NFIP guidelines regarding changes to named insureds.
-== 3. Access Policy Information ==
-Log in to the policy management system and locate the policy using the:
-* Policy number, or
-* Insured property address.
-== 4. Submit Change Request ==
-Follow these steps to process the name change:
-# Navigate to the "Policy Endorsements" section.
-# Select '''"Change Named Insured"''' as the endorsement type.
-# Enter the updated insured name as reflected in the provided documentation.
-# Upload supporting documents into the policy record.
-== 5. Confirm Changes with the Insured ==
-Provide the policyholder with:
-* A confirmation of the submitted change.
-* An updated declarations page reflecting the new insured name.
-== 6. Notify Stakeholders ==
-If applicable, notify other stakeholders (e.g., mortgage lenders) of the insured name change.
-=== Key Considerations ===
-* '''Effective Date''': Name changes take effect on the date the endorsement is processed. Ensure any waiting periods required by the NFIP are adhered to.
-* '''Duplicate Coverage''': Avoid creating duplicate policies by ensuring the updated name matches the existing insured property records.
-{{draft}}
+{{needsedit}}
 {{line-nfip-endorse}}