Policy Code Definitions

Policy codes can be found on the Underwriting tab of a Client’s policy.

• Stage: Nexsure determines the stage of a policy.  The stages of a policy are:
• Marketing:  This stage is displayed for marketing policies that are currently in the process of being worked on or submitted to a Carrier.  See Servicing – Marketing.
• Policy:  This stage is displayed for in-force policies.
• Edit:  This stage is displayed when a policy is in an Edit stage.  An Edit would be used to make an internal change to an in force policy that would not need to be sent to outside parties such as the Carrier or the Client.  See Servicing – Edits.
• Endorsement:  This stage is displayed when a policy is in an Endorsement stage.  An Endorsement would be used to make a change to an in force policy that would require a change request to be sent to the Carrier.  See Servicing – Endorsements.
• Audit:  This stage is displayed when a policy is in an Audit stage.  The Carrier normally initiates the Audit with the Client and the audit is based on a prior time frame.  When the audit is completed, the Carrier sends a copy to the Agency for their records.  See Servicing – Audit.
• Mode: Nexsure determines the mode during the Servicing process.  The modes of a policy are:
• New:  This mode identifies the new business for a new client.
• New on Existing: This mode identifies new business for an existing client.
• Renew:  This mode identifies the policy as being renewed with the same Carrier as the expired term.
• Re-New-Co:  This mode identifies the policy as being renewed with a different Carrier then the expired term.
• Status: The User identifies the status during the Servicing process.  The status is displayed in both the policy summary view and on the home menu links, if applicable.  This results in a quick overview of a Client’s policy and lets the user know if there is any servicing being processed on a policy and the status of the item.  The statuses of a policy are:

Note:  If a policy is being worked on and the Status is changed in the header, make sure to click the Save Changes link under the policy header to save the change.

• 2nd Request: A copy of the item being processed has been submitted to the Carrier and there has been no response.  The status would be changed to 2nd Request and the item re-sent to the Carrier.
• 3rd Request:  A copy of the item being processed has been submitted to the Carrier twice and there has been no response.  The status would be changed to 3rd Request and the item re-sent to the Carrier.
• Declined by Carrier:  The Carrier declined to write the coverage being requested for the Client.
• Declined by Client:  The Client declined to write his coverage with the Carrier.
• Empty:  This status is only displayed on a Marketing policy for a new line of business.
• No Response: There has been no response from the entity to which information was sent to.
• Pending: The information is incomplete and the item is pending until further information can be gathered.
• Pending Approval:  The item being worked on is pending approval from the Carrier.
• Quoted:  The user has received a quote from the Carrier.
• Submitted:  The item being worked on has been submitted to the Carrier for a quote or approval.
• Pending Cancellation:  A policy that is in the process of being canceled by the cancellation has not yet been finalized.
• Reinstated:  A canceled policy that was reinstated with no lapse in coverage.
• Rewritten:  A canceled policy that was rewritten with either a new Carrier and/or new effective dates.