COV

From Wiki
Jump to: navigation, search
Issue Cover Note.png
Name Issue Cover Note
Shortcut COV
Area Policy

See the NOVUS Walkthrough Guide for further information.

The COV Documents and Document Tags pages provide extra information on this program.

Cover notes are prepared from the slip once the policy has been converted to a firm order and the market added. A single cover note (for each client) is created which contains all sections of the policy. Details of each section are specified in the slip itself.

The system inserts the market breakdown by section, bureau, and pool, and re-formats the document to include the client’s name, address and salutation.

The cover note is evidence of cover and is created before any transactions are made. There should only be one market version for each section (known as MVN1). The cover note states the situation at inception. In the case that the cover note is reprinted three months later it must still show the situation at inception.

If there are one or more differences in the markets between the sections, the market structure must be defined individually: Section A, Section B etc.

The layout and design of the cover note can be modified by the user and the footer text changed as required. An accompanying cover note letter tailored to insurance or reinsurance policy types can also be printed.

The name format of the cover note is ‘CN_ACCx.doc’ where x is the client number ordered alphanumerically. If the market contains a single client, then the cover note is ‘CN_ACC1.doc’. Covering letters are named ‘CN_LETx.doc’


Evidence of cover doc.png


If the evidence of cover code is set to BD (Broker's Doc) and a cover note is issued using COV, then the user can record a date and method of sending and this is displayed in the contract certainty pop-up on the risk record. The 'sender' (NOVUS user) is now also recorded in all circumstances and displayed in the sender field on the contract certainty pop-up on the risk record.

Field Descriptions

Field name Description
Policy No: Enter the required policy number. The latest year for the policy number auto-populates the next field.
Year: Enter the required year if required. If the system cannot find a slip for this policy number and year it will not be possible to issue a cover note. If a reprint of an existing cover note is required, the screen will be populated with the appropriate details with the ‘Commit to Proceed’ field highlighted.

Note that the system option field at the right of the screen will be set to ‘E’=edit.

If this is the first time that a cover note is being prepared, the screen will display the policy type and a list of sections. In this case, the cover note issued date will be blank.

Type: Completed by the system. If the policy type is mapped to processing group 'S' the COV program queries the PARTNER table, in line with other processing groups.
Sections: Completed by the system.
Your Ref: Enter the client’s reference (optional). If multiple clients are involved in the risk then the client selection block will be highlighted; otherwise, the commit to proceed field will be highlighted.
Client Selection list: Use the cursor keys or scroll bar to position the arrow at the required client then click enter.
Format Options: Select either Word or PDF as the required output format for the cover note.
Cover Note. Click the cover note button to proceed. The market output for a cover note document will respect the latest applicable market version that is effective at the inception date of the section for the policy.


On pressing [COMMIT] Microsoft Word will display the cover note and the accompanying cover note letter. From here the cover note and letter can be printed as required.


Resetting flags

It is possible to reset flags in the program by pressing f5 followed by [COMMIT]. The program will build a new document next time the program is used rather than use the current document held in the WP repository. For detailed information on how the process works, see the Reset Flags page in this wiki.


Documentation

The f-number fields and tags for the quoted documentation are found at: document fields for cover notes



Version History

v 7.0.0 - Updated to the latest version.
v 6.2.0 - Updated to the latest version.
V 5.0.0 - Updated to the latest version.
V54S - FMX-208 - Correction for file delete call in Build_Cover_Note for x64
V51G - URM 3643: COV checks for section 'A' only and not the minimum section
V48M - C/N date remaining null bug fixed when clicking push button prematurely
v44M - First version of this form to use the new style. No other updates except the restyle.