Servicing > Binders

Adding a binder from the servicing screen allows you to add a binder to an existing policy. When adding binders to policies, the coverage effective date on the binder header changes to the date entered on the servicing screen and defaults the coverage expiration date to the default number of days entered in Lookup Management. When the binder coverage expiration date is within 30 days the binder can be extended. The coverage term date is the date the binder is effective. Steps to create a binder are as follows:

To Add a Binder

1. On the Client menu, click SERVICING.

2. Select the Binders option.
3. Select the policy for which to create a binder. The Generate Binder button becomes active.
4. Click Generate Binder. The binders > details tab is displayed.
5. Click Save Changes to save the binder to the policy. Keep track of the binder expiration date on the HOME > BINDER LOG by monitoring the Coverage Term expiration date.

Related Topics

Creating a Binder

Extending a Binder

Changing the Extension Default

Delivering a Binder

Putting a Bound Policy In Force