Submit NFIP Policy Transfer: Difference between revisions

Revision as of 08:29, 6 December 2024

This Equinox Procedure is for Agents. Find a complete list here.

Submit Rollover/Transfer

Agents can request a rollover/transfer to move NFIP policies from one WYO carrier to another. This procedure outlines the steps agents must follow to submit a single-policy transfer or a book of business transfer.

Overview

Rollover/transfer requests ensure policyholders maintain continuous coverage while transitioning to a new WYO carrier. Agents must provide accurate information and required documentation for the process to be completed successfully.

Key Steps

Determine the Type of Rollover/Transfer
1. Decide whether to request a single-policy transfer or a book of business transfer.
2. Confirm that the affected policies are nearing their renewal date and eligible for transfer.

Complete the Rollover/Transfer Request Form
1. Fill out the required form provided by the new WYO carrier.
2. Include:
  1. Policy numbers for all policies being transferred.
  2. Agent’s signed authorization to access the original carrier’s system.
  3. Contact details for follow-up, if necessary.

Gather Required Documentation
1. For single-policy transfers:
  1. Provide supporting documents such as proof of prior coverage or payment records, if required.
2. For book of business transfers:
  1. Ensure the list of policy numbers is complete and accurate.

Submit the Rollover/Transfer Request
1. Send the completed form and required documents to the new WYO carrier using the specified submission method (e.g., email, portal upload).
2. Retain copies of the submission for your records.

Follow Up with the New Carrier
1. Monitor the status of the rollover/transfer request through the carrier’s system or by contacting their support team.
2. Provide additional information or documentation promptly if requested.

Common Scenarios

Missing Policy Numbers: Ensure the policy list for book of business transfers is accurate and complete before submission.
Authorization Issues: Confirm the authorization form is signed and includes the correct credentials for accessing the original carrier’s system.
Submission Errors: Check for carrier-specific requirements to avoid delays in processing the request.

References

[Flood Insurance Manual: Renewals Section](URL: https://www.fema.gov/sites/default/files/documents/fema_nfip_flood-insurance-manual_042024.pdf)
Carrier-Specific Rollover/Transfer Guidelines

Related Procedures

This page is a rough draft and will need more work before it's finalized.

@@ Line 1: / Line 1: @@
 {{info-nfip-sfip}}{{eq-proc-agent}}
+== Submit Rollover/Transfer ==
-{{placeholder}}
+Agents can request a rollover/transfer to move NFIP policies from one WYO carrier to another. This procedure outlines the steps agents must follow to submit a single-policy transfer or a book of business transfer.
+=== Overview ===
+Rollover/transfer requests ensure policyholders maintain continuous coverage while transitioning to a new WYO carrier. Agents must provide accurate information and required documentation for the process to be completed successfully.
+=== Key Steps ===
+# '''Determine the Type of Rollover/Transfer'''
+## Decide whether to request a single-policy transfer or a book of business transfer.
+## Confirm that the affected policies are nearing their renewal date and eligible for transfer.
+# '''Complete the Rollover/Transfer Request Form'''
+## Fill out the required form provided by the new WYO carrier.
+## Include:
+### Policy numbers for all policies being transferred.
+### Agent’s signed authorization to access the original carrier’s system.
+### Contact details for follow-up, if necessary.
+# '''Gather Required Documentation'''
+## For single-policy transfers:
+### Provide supporting documents such as proof of prior coverage or payment records, if required.
+## For book of business transfers:
+### Ensure the list of policy numbers is complete and accurate.
+# '''Submit the Rollover/Transfer Request'''
+## Send the completed form and required documents to the new WYO carrier using the specified submission method (e.g., email, portal upload).
+## Retain copies of the submission for your records.
+# '''Follow Up with the New Carrier'''
+## Monitor the status of the rollover/transfer request through the carrier’s system or by contacting their support team.
+## Provide additional information or documentation promptly if requested.
+=== Common Scenarios ===
+* '''Missing Policy Numbers:''' Ensure the policy list for book of business transfers is accurate and complete before submission.
+* '''Authorization Issues:''' Confirm the authorization form is signed and includes the correct credentials for accessing the original carrier’s system.
+* '''Submission Errors:''' Check for carrier-specific requirements to avoid delays in processing the request.
+=== References ===
+* [Flood Insurance Manual: Renewals Section](URL: https://www.fema.gov/sites/default/files/documents/fema_nfip_flood-insurance-manual_042024.pdf)
+* Carrier-Specific Rollover/Transfer Guidelines
+=== Related Procedures ===
+* [[Create Rollover/Transfer - Single Policy]]
+* [[Create Rollover/Transfer - Book of Business]]
+* [[Review NFIP Renewal]]
+{{draft}}