Reinstate mortgagee billed non paid renewals on payment

Policies

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:

  1. Set “enabled” to true.
  2. 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.
  3. 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.