The Activity tab on the Manage Policy page provides a complete, chronological log of every transaction associated with a policy.
Key Components
Each entry in the Activity Feed includes three core details:
- Issue Date: The date the transaction was officially issued.
- Transaction Number: Denoted by term and sequence (e.g., Term 1, Transaction 2 indicates the second transaction in the first policy term).
- Transaction Label: A clear description indicating the primary data modified during the transaction.
Transaction Types
The feed tracks the following transaction categories:
- New Business: Generated when a new policy is bound.
- Renewals: Generated automatically at the end of each policy term.
- Renewal Adjustments: Triggered when Openly needs to re-price a renewal based on updated information.
- Effective Date Changes: Displayed when the start date of a new policy is adjusted.
- Cancellations: Displayed when an active policy is terminated.
- Non-renewals: Indicates a policy that is ineligible for renewal.
- Reinstatements: Generated when a previously canceled policy is restored.
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Change Endorsements: Triggered by specific policy updates, including:
- Mortgagee updates
- Payment method updates
- Adding or editing parties
- Property information changes
- Coverage adjustments
- Policy mailing address changes
Out-of-Sequence Transactions
When a new transaction has an effective date set on or before the effective date of a previously recorded transaction, the older entry is marked as Out of Sequence.
This status indicates that the older transaction is no longer active or valid, as it has been superseded by a transaction with an earlier effective date.
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