Set up automatic return premium transfers on rewrites

Clients can automate the transfer of a return premium when a policy is rewritten. When a policy is rewritten, the return premium of the old policy will automatically transfer to the new policy. This automation eliminates the need for a user to manually transfer the return premium to the rewritten policy.

To enable automation:

  1. Navigate to Settings > Modules > Policies > Policy Lifecycle > Cancellation > Options.
  2. Select the On Rewrite, Automatically Transfer Return Premium to the Newly Rewritten Policy checkbox.
  3. Select Save.

Note: It is recommended that clients use the transfer feature.