During a non-payment cancellation period, agents can review the payment status under the Manage Policy tab in the Portal to confirm whether or not the premium has been received.
If we have not received full payment for New Business and Premium-Bearing Mid-Term Adjustment premiums by the due date, the Openly Billing Team will send a reminder to the notification email for the Agency of Record.
A five-day grace period will begin if we do not receive payment by the due date. If payment has not been made within the grace period, the policy will enter a pre-cancellation state for 30 days.
After the grace period, the official pre-cancellation notice will be generated and will indicate the exact date of cancellation for non-payment. This notice can also be found in the Documents tab. A Pending Cancellation: Non-Pay status flag appears on the policy in the Portal. It's important to note that premium-bearing endorsements that increase the premium cannot be made until payment is made on the balance.
Coverage will end on the date specified in the Cancellation Notice documentation, and no coverage will be in force until payment and any required documentation are received.
For example, the payment due date for policy BQ01-EXAMPLE is 01/01/2023:
| Date | Action |
| 01/01/2023 | Payment Due Reminder sent to agent and agency. |
| 01/06/2023 | Precancel Notice sent to agent, policyholder, and mortgagee. A Pending Cancellation: Non-Pay status flag appears on the policy in the Portal. |
| 02/05/2023 | Cancellation Notice sent to policyholder and agent. |
Note that policies renewing under MS Transverse, where the renewal premium is not paid, and no signed application is received, will be canceled back to the renewal date and reflect as Not Taken. If the signed application is received, it will follow the non-payment process. Read this article for more information about MS Transverse.
For further assistance, email us at billing@openly.com.