Insurance - Processing Insurance Adjustments

This article is part of the Insurance section.

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Insurance

You may want to make changes to saved policies if there are mid-term adjustments such as a change in the sum insured after an updated valuation.

To do this:

1. Navigate to the Development tab and open your development.
   
   
2. Open the Insurance tab within the development.
   
   
3. Select the relevant policy from the grid, and click Clients Covered in the grid at the bottom of the screen.
   
1. You can also do this from the Clients Covered tab on the actual policy.
   
   
4. Select the client, right-click and select Amend from the pop-up menu.
   
   
   
   
5. This will open the Insurance Adjustment window.
   
   
   
   
6. Here you can adjust the Sum Insured or the Rate, and the date the adjustments apply from.
   
   
7. Click OK to apply your changes.
   
   
8. A pop-up will confirm the premium to be refunded, the premium now owed and the charge to the client. Click Yes to proceed.
   
   
   
   
9. A second pop-up will ask if you want to invoice the client immediately. 
   
   
10. After selecting Yes or No, a final pop-up will confirm the batch number. Click OK to dismiss.
    
    
11. The adjustment charge will be in the client's Charge Transaction tab ready to be picked up by the invoicing process.
    

You can run the Insurance Changes report for a specific date range to see all changes made during that timeframe.

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