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|color = blue
|color = blue
|title =
|title =
|text = This procedure explains how agents can request a change to the insured details on an NFIP policy. These changes can include contact details, adding co-insureds or additional insureds, or making changes to the names.
|text = This procedure explains how agents can request a '''change to the insured details''' on an NFIP policy. These changes can include contact information, adding co-insureds or additional insureds, or making changes to the names.
}}
{{img-proc-nofrm
|file = File:Img-vector-change-insured.png
|caption = Policy Changes require specific actions to meet federal guidelines
}}
}}
== Types of Insured Name Changes ==
{| class="wikitable uw-details"
!'''Type'''
!'''Description'''
!'''Required Documentation'''
!'''Effective Date Rule'''
|-
|'''Name Correction'''
|The insurable interest does not change, but the policyholder’s name is incorrect.
|Signed policyholder request for correction.
|Effective from the inception date of the current term.
|-
|'''Adding a Name'''
|An additional policyholder is being added to the policy.
|Existing policyholder’s signed authorization for addition.
|Effective from the date of request.
|-
|'''Removing a Name'''
|An existing name is being removed, which may affect insurable interest.
|The signature of the policyholder that is being removed is required. In the case of a death or divorce, a death certificate or the divorce decree may be used in lieu of the signature.
|Effective from the date of request.
|-
|'''Policy Assignment'''
|Transferring insurable interest to a new policyholder and removing the current one.
|The change form/endorsemnt must be signed by the seller on or before the closing date. If the prior owner used the property as their primary residence, the new owner must provide primary residence documentation.
|Effective from the date of transfer.
|-
|'''Updating a Name'''
|The policyholder’s name is updated due to legal reasons (e.g., marriage, divorce).
|A copy of the marriage certificate, divorce decree or other document substanciating the change of the insured name is required.
|Effective from the date of legal change.
|}
{{clear}}
{{clear}}
== Procedural Steps ==
== Procedural Steps ==
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|title = 3. Choose Effective Date
|title = 3. Choose Effective Date
|content =
|content =
{{Box task
{{Img-proc-free
|image = Img-proc-effective-date-dropdown.png
|style = padding-top: 1em
|size = 120px
|file = Img-proc-change-insured-eff-date.png
|alt = An image of a date being selected
|size = 700px
|caption = Choose the correct effective date for the policy change
|caption = Choose "None" for the Waiting Period and select the appropriate Policy Change Effective Date.
|text =
}}
Scroll to the top of the page to enter the effective date.
Scroll to the top of the page to enter the effective date.
* Backdating is not allowed.
* Enter the appropriate date (see table below).
* Enter today's date or a later effective date.
* Backdating to the inception date is allowed for corrections.
* Choose "None" for the [[Waiting Periods|Waiting Period]].
* Choose "None" for the [[Waiting Periods|Waiting Period]].
'''''The Policy Change cannot be completed without choosing an effective date.'''''
'''''The Policy Change cannot be completed without choosing an effective date.'''''
}}
<table class="wikitable">
<tr><th>Change Type</th><th>Effective Date Rule</th></tr>
<tr><td>Update Contact Details</td><td>Date of the request</td></tr>
<tr><td>Add Insured Name</td><td>Date of the request</td></tr>
<tr><td>Update Insured Name</td><td>Date of Request or Event</td></tr>
This procedure explains how agents can request a change to the insured details on an NFIP policy. These changes can include contact information, adding co-insureds or additional insureds, or making changes to the names.
Procedural Steps
1. Access Policy Record
Use the "Policy Changes" menu along the right side of the page.
After selecting the Add Insured button, choose either a co-insured or an additional insured.
When adding a new insured (co-insured or additional insured), click the "Add Insured" button in the upper right of the Policyholder section.
Select "Individual", "Business", or "Legal Trust"
Enter the contact details in the fields below.
All starred fields are required.
Once all details are entered, click the "Save" button (move to Step 3 below).
Edit Insured
Use the Edit button (pencil icon) in the upper right of the Policyholder section.
This will open the Insured fields for editing.
Each insured (policyholder, co-insured, or additional insured) will have their own section for editing.
Make the appropriate entries to the policyholder details as needed.
Update Contact Details
Changes to email address, phone number, and mailing address.
If the mailing address is used to verify Primary Residence, then it cannot be changed until a document has been submitted in its place.
Update Insured Name
The policyholder’s name has been updated due to legal reasons (e.g., marriage, divorce).
Required Documentation: a signed request from the insured or legal document showing change to insured name
Correct Insured Name
The insurable interest does not change, but the policyholder’s name is incorrect.
Required Documentation: The agent must state that the name was incorrect on the application and there is no change to insurable interest
Once all details are entered, click the "Save" button (move to Step 3 below).
Delete Insured
Use the Delete button (trash can icon) in the upper right of the Co-insured or Additional Insured section.
The policyholder can be edited but not deleted.
Required Documentation: A signed request from the insured being removed or written evidence, like a deed, showing the insured no longer has insurable interest in the property.
If chosen by accident, this can be undone by clicking the Abort button in the upper right.
3. Choose Effective Date
Scroll to the top of the page to enter the effective date.
Enter the appropriate date (see table below).
Backdating to the inception date is allowed for corrections.
