A new checkbox has been added to the Master Cover - Policy Settings page, in the Miscellaneous Settings panel.
Check the Restrict Endorsements to Last Policy Transaction box to prevent endorsements from being created based on earlier policy versions. When this option is checked, only the most recent Policy Transaction per term can be used to generate an endorsement.
If an endorsement has been declined, it will not be counted as the most recent transaction. In this case, the next most recent transaction will be enabled for endorsement.
In order to create a submission from the most recent transaction, it must be in Bound status. If it is not bound, the ability to endorse will not transfer to the next transaction. The transaction must be bound to enable the endorsement button, or declined to make the next most recent transaction eligible for endorsement.
Example:
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Original Policy Jan 1st to Dec 31st - Bound | |||||||||||
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Endorsement 1 Apr 1st to Dec 31st - Bound | |||||||
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Endorsement 2 Mar 1st to Jun 30th - Quoted |
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Endorsement 3 Jun 1st to Sep 30th - Declined |
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The Original Policy was bound from January 1st to December 31st.
Endorsement 1 was created and bound to apply changes to the policy from April 1st to the end of the term.
Endorsement 2 was created from March 1st to June 30th, but has not been bound yet.
Endorsement 3 was created from June 1st to September 30th, but was declined.
If Restrict Endorsements to Last Policy Transaction is not checked, endorsements can be created from the Original Policy, Endorsement 1, or Endorsement 2.
If Restrict Endorsements to Last Policy Transaction is checked, Endorsement 3 is skipped since it is Declined, and Endorsement 2 becomes the most recent active transaction. Since Endorsement 2 is the most recent active transaction, the Endorse button will not be available for the Original Policy or Endorsement 1. However, since Endorsement 2 is not bound, the Endorse button will not be available until it is bound.
If Endorsement 2 were to be declined, Endorsement 1 would become the most recent active transaction and, since it is bound, the Endorse button would be available.
For more information on master cover settings, see the Master Covers section of the Bridge Startup Guide, Version 1.6.1.