Endorsements overview

An endorsement is an amendment or change to a policy.

Note: In BriteCore, endorsements are also referred to as revisions.

While typical commercial insurance contains general coverage, BriteCore provides flexibility for clients to build almost any endorsement they would like to offer, from Coverage A to custom coverages.   

Note: A custom coverage is characterized by a unique risk(s). It is also referred to as a manuscript endorsement.

Endorsements are created, committed, and processed within in-force policies. With an endorsement, the amendments made to a policy can occur on the Information, Property, and/or Builder tabs of the policy.

BriteCore supports out-of-sequence and in sequence endorsements.

Out-of-sequence endorsements

An out-of-sequence endorsement (OOSE) is an amendment to a policy with an effective date that is earlier than the effective date of another amendment already bound on the policy. 

Out-of-sequence endorsement process:

  1. When a revision is committed, BriteCore searches for any future revisions.
  2. Changes in the new revision are merged with the next future revision, such as merge header, information, properties, builder, contacts, and properties.
  3. If there are no conflicts, BriteCore rates the updated future revision.
  4. If there are additional future revisions, BriteCore:
    1. Merges forward the new changes.
    2. Re-rates each updated revision.

In-sequence endorsements

An in-sequence endorsement is an amendment made to a policy that occurs sequentially in terms of date and time. 

Considerations

Endorsements can be committed only on in-force policies.