Rewriting a policy cancels the original policy and creates a new policy. BriteCore will copy all policy information to the rewritten policy, but any claims that were linked to the Accounts Receivable screen of the original policy won’t be linked to the rewritten policy. BriteCore will also automatically transfer the return premium to the rewritten policy if the On rewrite, automatically transfer return premium to the newly rewritten policy setting is enabled.
Note: You can rewrite a policy only after all open revisions are committed.
To rewrite the policy:
- Select Policies.
- On the Policies List screen, select a policy number to open a policy.
- Select Rewrite Policy to open the Rewrite Policy dialog box.
- From the Reason dropdown list, select the reason you want to rewrite the policy.
- Select one of the following options:
- Select Use a New System Generated ID.
- Select Use Current Policy ID. In the Update Old Policy ID to box, you can use the default ID or type a different policy ID for the original policy.
Note: You can’t use the current policy ID if you want to rewrite the policy without a lapse. You can use the current policy ID only if the rewritten policy uses a new Lines effective date.
- Select Manually Create an ID. In the Manually Create an ID box, type a new policy ID.
- In the Effective Date box, type an inception date for the rewritten policy. This is also the date the original policy will cancel.
- From the Term dropdown list, select a policy term for the rewritten policy.
- Select Done.
BriteCore will redirect you to the new policy. The rewritten policy will have a link to the original policy under the Policy ID (see Figure 1). The original policy will also have a link to the rewritten policy.
Figure 1: The rewritten policy has a link to the original policy.