We need a Cancel button next to the MTA button on the system

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13 comments

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    John Price

    There is now a cancel button :)

     

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    Mark Williams

    This would be an extremely useful feature and save having to zero our SI's manually to cancel a policy with an MTA.

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    Richard Thorne

    This feature would need to be controllable in scheme settings and user settings as we need control over which users/schemes this is available to

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    Jon Collis

    If it is a full cycle scheme then it could be switched on automatically

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    Jon Collis

    Morning,

    Any update on this?

     

     

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    Natalie Williams

    Wow, what a coincidence, we were discussing this just yesterday. 

    This is certainly an area that is lacking and is much needed for bordereaux reports.  I never appreciated the need for this fully until very recently.

    I think we need Cancel to be a "type", not just a "status".  This way we can run a cancellation and put it on cover when happy (or still set the status to cancelled).

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    John Price

    Hi people,

    Could you please elaborate on what a cancel button might do, that changing the status (and running rules) to Cancelled doesnt do?

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    Colin Kippin

    It needs to make the system calculate the pro rata return based on the Inception date of the Adjustment.

    At present these are pushed through by reducing all of the covers to zero manually - the Cancel button could do this automatically

     

     

     

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    Mark Williams

    Cancelling a policy should set si's to 0 calculating a return premium which could then be overridden.

    It would really benefit from it's own matrix which would allow full control per scheme/insurer.

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    Natalie Williams

    I am not entirely sure if setting to 0 would work for reports.  This is a tricky area that needs input from a lot of people I think.

    The issue is, from the matrix point of view the sums insured need to be 0 to calculate the correct return premium.  However, on most bordereaux insurers like to see the sums insured as a negative.

    so a building insured for £500,000 would show as -£500,000 on the reports.

    I cannot even start to get my head around how this could work fully. 

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    Jon Collis

    Any update on this one?

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    Ed Halsey

    So if it's a calculation, on pressing the button, could it simply ask the user for a date of cancellation (thus changing the expiry date to that date and auto-calculating a pro-rata AP, if applicable) and a reason for calculation (perhaps a drop down populated from a lookup file?) then change the status to cancelled? 

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    Natalie Williams

    It's the inception date that would become the cancellation date, else reports etc will not work.

    Alas, I don't think it is as simple of just having a button and a pro rata return, we would need all the functionality that the current Case Types have (rules, matrix etc).

     

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