Purpose
With the reinstate_mortgagee_billed_non_paid_renewals_on_payment advanced setting, you can allow mortgagee billed canceled policies or non-pay renewals to be reinstated as long as payment that meets the payment threshold is made within a specified amount of time.
Requirements
This setting requires a JSON string that includes the following information:
- {“enabled”: <true/false>, “daysCanceledThreshold”:<number of days>, “paymentThreshold”:<Underpayment amount accepted>}.
Setting default
By default, reinstate_mortgagee_billed_non_paid_renewals_on_payment is set to {“enabled”: false, “daysCanceledThreshold”: 0, “paymentThreshold”: 0}, so mortgagee billed canceled or non-pay renewal policies aren’t reinstated if payment is received within a specified amount of time.
Changing the default
To change the default, navigate to Settings > Advanced and search for reinstate_mortgagee_billed_non_paid_renewals_on_payment. In the JSON string:
- Set “enabled” to true.
- Set “daysCanceledThreshold” to the number of days following cancellation in which a payment will be accepted and will reinstate the policy. For example, if you allow a payment to be made on a policy up to 30 days after the policy cancels, you would type 30.
- Set “paymentThreshold” to the amount by which you will accept the policy to be underpaid and still reinstate the policy. For example, a threshold of 5 would indicate that you will allow an underpayment of $5.00 or less, so if a payment of $95.00 is made on a policy where $100.00 is due, the payment would be accepted.