Lost Business Report

Policies are evaluated for certain criteria before they are included in the Lost Policy Report. A policy must meet the following requirements to appear on the report:

  • The policy must have an expiration date within the date range unless the policy has a maximum transaction of Cancellation Confirmation or Non-Renewal.
  • If the policy is a cancellation or non-renewal, then the cancellation confirmation or non-renewal effective date must be within the report date range.
  • The expired, canceled, or non-renewed policy must have an entry in the Transaction Premium section () of the policy that is marked to “Include in Premium Totals” ().
  • No in-force policy exists beyond the date range of the report that includes a matching entry in the Transaction/Premium section of the policy that is marked to “Include in Premium Totals.”
 

Policy Download can send entries for the Transaction Premium section of the policy. Whether or not the “Include in Premium Totals” is marked is determined by your agency’s Billing Options Setup selections in Company Setup for each company.
ClosedPolicy Comparison Chart

My Agency Reports evaluates expiring, canceled, or non-renewed policies, within the report date range, for the following:

  • Does the expiring policy meet the requirement for transaction premium and marked to include in Premium totals?
  • Does an in-force policy exist with an effective date after the report date range that also meets the requirements for transaction premium and marked to include in Premium totals?

The expiring policy is evaluated first to see if the expiration date falls within the date range used to create the report. Next that policy is evaluated for criteria in the first two columns below. If the policy doesn't meet the requirements, the evaluation stops, the policy is disqualified from the report, and the evaluation moves on to the next expiring policy found in the report date range. The table below includes possible combinations of criteria on the expiring policy and in-force policy (if it exists). The last column indicates whether the expiring policy will appear on the Lost Business report or not.

If the expiring policy meets the requirements, the evaluation continues and a search is made to find a corresponding in-force policy with an effective date after the report date range (column three). If an in-force policy is found, that policy is evaluated for the requirements in columns four and five below. If the requirements are met, the expired policy will not appear on the Lost Business report.

If the policy expiration date is within the report date range and the policy meets the requirements in columns one and two below, but no in-force policy is found outside the report date range, then the policy will appear on the Lost Business report.

A policy has an expiration date that falls within the report date range is evaluated for the following requirements: Whether or not an in-force policy exists for the customer that is outside the report date range. If found it is evaluated for the following requirements: Does the expiring policy appear on the Lost Business Report?

Entry in Transaction Premiums Section for policy

Marked to "Include in Premium Totals"

Does an in-force policy exists with an effective date after the report date range

Entry in Transaction Premiums Section

Marked to "Include in Premium Totals"

 

N

N

N

N

N

N

The expiring policy doesn’t have an entry in the Transaction Premiums section.

N

N

Y

Y

N or Y

N

The expiring policy doesn’t have an entry in the Transaction Premiums section.

Y

N

N

n/a

n/a

N

The expiring policy isn't marked "Include in Premium Totals."

Y

Y

Y

N

n/a

N

The in-force policy doesn’t have an entry in the Transaction Premiums section.

Y

Y

Y

Y

N

N

The in-force policy isn't marked "Include in Premium Totals."

Y

Y

Y

Y

Y

N

All required information is entered for both the expiring and in-force policies.

 

Special criteria affecting package policies and when they appear on the Lost Business Report

Y

(For example, package with Property and Liability entries.)

Y

Y

Y

(Package with Property and Liability entries.)

Y

N

Y

(For example, package with Property and Liability entries.)

Y

Y

Y

(No package. Entry for Liability only.)

Y

Y

Only Property shows as lost.

Y

(Package with only one entry such as Comm’l Package.)

Y

Y

Y

(Entry for Property only on the new in-force. No Comm’l Package.)

Y

Y

Comm’l Package shows as lost.

 

Policy Download can send entries for the Transaction Premium section of the policy. Whether or not the “Include in Premium Totals” is marked is determined by your agency’s Billing Options Setup selections in Company Setup for each company.
ClosedCommercial Package Rules

To determine if commercial lines of business are lost, the following rules apply regarding the seven lines of commercial package business below.

  1. Commercial Package (CPKGE)
  2. Business Owners (BOP)
  3. Business Owners Liability (BOPGL)
  4. Business Owners Property (BOPPR)
  5. Agriculture Liability (AGLIA)
  6. Agriculture Sch/UnSch Pers Property (AGPP)
  7. Agriculture Package (APKGE)

A business is considered lost:

  • If the lost commercial policy has any of the lines of business above, and there is no in-force commercial line of business.
  • If the lost commercial policy has any of the lines of business above, and there is only a single in-force commercial line of business other than the ones above.

A business is considered not lost:

  • If the lost commercial policy has any of the lines of business above and,
  • If the lost commercial policy has a line of business not listed above, and the in-force policy has any of the lines of business above.
  • An in-force policy exists for any of the lines of business above, or,
  • An in-force commercial business exists for two or more lines of business not in the lines of business above.
ClosedPersonal Package Rules

To determine if personal lines of business are lost, the following rules apply regarding Personal Package (PPKGE).

A business is considered lost:

  • If the lost personal policy has PPKGE, and there is no in-force personal line of business.
  • If the lost personal policy has PPKGE, and there is only a single in-force personal line of business other than PPKGE.

A business is considered not lost:

  • If the lost personal policy has PPKGE and
  • An in-force personal policy exists for PPKGE, or,
  • An in-force personal policy exists for two or more lines of business.
  • If the lost personal policy has a line of business other than PPKGE, and the in-force policy has PPKGE.
 

Data Level Security for this report: Business Unit
The filter list that contains Division, Branch, Department, and Group contains all business units.

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