New rules have been added to the Field Management page for generating the Code of a new field. The rules allow for periods in the field’s Name to be preserved in its Code. This is useful for creating a visual separation between words in the Code in order to make it easier to read.
The Code is generated using the text entered in the Name field with the following adjustments:
•Spaces and special characters are removed.
•Periods are preserved, except those found at the beginning and end of the Name. Wherever there is a group of two or more consecutive periods, the first one of the group will be preserved and the rest will be removed.
•Following the application of the above rules, if the resulting Code already exists, a timestamp with the current date and time will be appended to it.
Example
•A Name of “.A.First..Policy…Term Starts.” will have Code “A.First.Policy.TermStarts”.
− For details on creating a field, see the Creating a New Field section.
New settings have been added to allow more precise control over whether or not a term’s Valid Until date will overlap with the Effective Date of a renewal. Furthermore, these settings can now vary on a term-by-term basis.
The following changes have been made to the Effective Period panel on the Master Cover - General Information page.
•The Display Valid Until Date With Same Day & Month field has been replaced with the Policy Term Dates field. It has the following two options:
o Inclusive With Next Day Renewal: The effective period includes the entire Valid Until date, with any renewal starting on the day after the Valid Until date.
The Policy Start Time setting will be set to 12:00 AM, but will have no effect on the effective period of the term. However, the time component will be visible when the term dates are used in documents or calculated fields, so formatting or formulas may need to be adjusted.
With this setting, the system uses all days in the term for rating calculations.
o Exclusive With Same Day Renewal: The effective period includes part of the Valid Until date, up to the selected Policy Start Time. Any renewal will start from the Policy Start Time of the previous term’s Valid Until date.
With this setting, the system uses the entire first day of the term for rating calculations, but excludes the last day. This ensures that the calculations are performed with the correct number of days for the term, regardless of mixed settings.
These settings affect the end of the current term and any subsequent renewal. The beginning of each renewal term is set according to the settings of the previous term, with the start of a New Business term set according to the master cover settings.
With this update, the Policy Term Dates field will be set according to the previous setting of the Display Valid Until Date With Same Day & Month checkbox. If it was unchecked, the Inclusive With Next Day Renewal option will be selected. If it was checked, the Exclusive With Same Day Renewal option will be selected.
− For detailed examples of the use of this feature, see the Setting Effective Period and Time of Day for Policy Terms section.
•The Allow Policy Term Dates Override checkbox has been added. When checked, the selection made for the Policy Term Dates field can be changed for each term. The Policy Term Dates field has been added to the Policy Information detail window, with the same options as in the master cover. Changing the settings for a term affects how the end of the term and any renewal will be handled. When the override option is unchecked, New Business terms will use the settings from the master cover, while each renewal term will inherit the Policy Term Dates configuration from the previous term.
− For more details on the master cover settings, see the General Information section.