Policy Rewrite

Overview

A policy rewrite cancels an existing active policy and issues a new replacement policy with revised terms. A rewrite is used when the changes required are too significant for a standard endorsement — for example, a fundamental change in the insured entity, a major expansion of coverage, or a change in the underlying risk that the carrier requires to be rewritten rather than endorsed.

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Rewrite vs. Re-Issue vs. Reinstatement

Action	What Changes	Policy Number	Premium Adjustment
Rewrite	Everything — new policy issued	New policy number	Pro-rated adjustment
Re-Issue	Documents only	Same	None
Reinstatement	Restores cancelled policy	Same	Lapse premium charged
Endorsement	Specific mid-term change	Same	Endorsement premium

Before You Begin

• Confirm underwriting approval for the rewrite.
• Determine the cancellation date of the original policy (usually the same date as the rewrite effective date).
• Confirm how the return premium on the original will be handled (credited to new policy or refunded).
• Gather any new application information required for the revised risk.

Caution

A rewrite creates a gap in coverage if the cancellation date precedes the new policy effective date. Confirm both dates are the same to avoid a coverage gap, unless a lapse is intentional.

Step 1: Cancel the Original Policy

1. Open the original policy record.
2. Click Actions > Cancel Policy.
3. Select Cancelled — Rewrite as the cancellation reason.
4. Enter the cancellation effective date (this should match the new policy’s effective date).
5. The system calculates the return premium for the unused portion of the policy.
6. Click Process Cancellation.

The original policy moves to Cancelled status and a return premium calculation is recorded.

Step 2: Enter the Rewrite Application

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New application form with a 'Rewrite of Policy' checkbox checked and the original policy number pre-populated in the linked policy field

New application form with a 'Rewrite of Policy' checkbox checked and the original policy number pre-populated in the linked policy field

1. Navigate to New Business > New Application.
2. Check the Rewrite of Existing Policy checkbox.
3. Enter the original policy number in the linked policy field — this links the two records.
4. Select the appropriate LOB for the rewrite.
5. Select the same producer.
6. Enter the rewrite effective date (same as the cancellation date).
7. Complete the application form with the new risk information.
8. Click Save Application.

Step 3: Rate the Rewrite

1. Complete the guidelines validation for the new risk.
2. Navigate to the Rating tab on the rewrite application.
3. Click Calculate Premium.
4. The rating engine applies current rates to the new risk profile.
5. Review the premium and confirm it is appropriate for the rewrite.
6. Click Save Rating.

See Rating for detailed rating instructions.

Step 4: Bind the Rewrite

1. After rating is complete, navigate to the Order to Issue tab.
2. Click Bind Policy.
3. Confirm the binding confirmation dialog.

Step 5: Linking the Rewrite to the Original Policy

The rewrite application is automatically linked to the original policy when you enter the original policy number during application entry. To verify the link:

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Policy record showing the 'Rewrite History' section with the original cancelled policy number and the new rewrite policy number

Policy record showing the 'Rewrite History' section with the original cancelled policy number and the new rewrite policy number

1. Open either the original or rewrite policy.
2. Scroll to the Rewrite History section.
3. Confirm both the original cancelled policy and the rewrite policy are listed and linked.

Premium Calculation on Rewrite

The premium accounting works as follows:

• The original policy generates a return premium for the unused term (calculated from cancellation date to original expiration date).
• The rewrite policy generates a new premium for the full term starting on the rewrite effective date.
• The return premium from the original is typically credited against the rewrite premium.
• The net amount due (rewrite premium minus return premium credit) is billed through the standard accounting workflow.

After the Rewrite

• A new policy number is issued for the rewrite policy.
• New policy documents (declarations, binder) are generated automatically.
• The producer is notified of the rewrite and receives updated documents.
• The original policy remains in the system in cancelled status with a reference to the rewrite.
• Renewal solicitations will reference the rewrite policy going forward.