Set up cancellation and non-renewal reasons

Clients can define their list of cancellation and non-renewal reasons by state and policy type.

Cancellation reasons

Clients can setup cancellation reasons in Settings > Modules > Policies > Policy Lifecycle > Cancellation. The list below is a sample of possible cancellation reasons that may be entered into BriteCore:

  • Agent no Longer Represents Company
  • 1st 60 Days – Does not Meet Underwriting Guidelines
  • Changing Policy Type
  • Foreclosed Property
  • Fraudulent Act
  • Fraudulent Claim or Settlement
  • Fraudulent Statement
  • Increase in Hazard
  • Insured’s Request
  • Loss History
  • Loss of Reinsurance
  • Material Change in Risk
  • Material Misrepresentation or Nondisclosure of Material Fact
  • Non-Payment of the Premium
  • Omission or Concealment of Fact Material to the Acceptance of Risk
  • Property is Vacant
  • Property Sold
  • Substantial Breach of Contractual Duties
  • Substantial Increase in Hazards Insured Against by Reason of Willful or Negligent Acts or Omissions by the Insured
  • Transferred to Another Policy within the Company
  • Underwriting

Non-renewal reasons

Clients can setup cancellation reasons in Settings > Modules > Policies > Policy Lifecycle > Non-Renew. The list below is a sample of possible cancellation reasons that may be entered into BriteCore:

  • A Fraudulent Act Against the Company
  • Agent No Longer Represents the Company
  • Claims History
  • Credit Report
  • Credit Score
  • Criminal Conviction of the Insured
  • Declining Condition of the Property
  • Did Not Return Required Company Forms
  • Does Not Meet Corporate Charter or Articles of Incorporation Requirements
  • Failure to Institute Reasonable Loss Control
  • Filed for Bankruptcy within previous three to five years with a Customer Performance Rating below the neutral tier
  • Filed for Bankruptcy within the previous two years
  • Foreclosed Property
  • Increased Hazard
  • Lack of Pride of Ownership
  • Liability Risk Exposure(s)
  • Loss History
  • Loss of Reinsurance
  • Material Change in Risk
  • Material Misrepresentation
  • Not Owner Occupied
  • Payment History
  • Property Condition
  • Request from Agent
  • Risk is No Longer Eligible for Replacement Cost Coverage
  • Risk is Vacant or Unoccupied
  • Risk Not Insured to Value
  • Substantial Breach of Contractual Duties
  • To Be Re-Written on a Different Line of Business/Policy Type