2.2.2 Core Enhancements

Previously, the effective period of any endorsement was restricted to the existing term period.  This has been modified to allow endorsements to extend the current term.

The Effective Date of an endorsement must still begin any time during the original new business term, but the Valid Until date can now extend past the end of the current term (master cover settings permitting).  Once the endorsement is bound, the Valid Until Date of the endorsement becomes the new end date of the policy term.  Any renewals or additional extension endorsements are based on the new end date of the extended term.

All premium calculations have been adjusted to handle the extension period, using all settings in effect on the Effective Date of the endorsement.  Prorating and adjustments, if enabled, are all included in the calculation of the additional time.  All settings that modify or restrict date settings remain in effect.

Extension endorsements cannot be bound if a renewal transaction exists from the end of the current term.  The renewal transaction must be deleted or declined before the endorsement can be bound.  A new renewal transaction can then be created from the end of the newly extended term.

The ConfirmMaxReferralLimit1 right, assigned by default to the Underwriter and Underwriter Supervisor roles, has been enhanced to provide greater control over submissions.

•    This right now makes the Calculate Quote action available in Referred status.  Additional rights are still required, CalculateQuoteAction and either CreatePolicy or EditSubmission.

•    When a submission would normally go into Underwriting Required status for a standard referral, users with this right bypass the Underwriting Required status and the submission goes directly to Referred status.

Previously, the CreatePolicy, CreateEndorsement, and CreateRenewal rights would allow user to both initiate and bind policies, endorsements, and renewals, respectively.  The ability to bind these transactions has been removed from these rights, and assigned to three new rights, BindPolicy, BindEndorsement, and Bind Renewal.

Each of the new bind rights has been automatically added to all roles that include the related create right, so existing users should not see any difference in functionality.  Either the create or bind rights may now be removed from specific security roles to provide greater control over access to these options.