The 'Paid Certificates' import template now includes an optional "Insurer NAIC#" column, allowing you to integrate AM Best Ratings for your imported policies. Here's how to use this feature effectively:
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Preparing Your Import Data:
- Each row in your import file represents a coverage for a certificate.
- A single certificate can have multiple coverages, each with its own NAIC#.
- The system identifies unique certificates based on the combination of:
- Certificate Name
- Property(ies)
- Company ID (if applicable)
- Company Name
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Entering NAIC# Information:
- For standard NAIC#s, simply enter the numerical code (e.g., "20494").
- If importing from Classic, use only the numbers after the dash (e.g., for "2131-20494", enter "20494").
- You can leave the NAIC# field blank if you don't have this information.
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Import Process and Results:
- When you import with a valid NAIC#, the system automatically: a) Associates the correct insurer with the coverage. b) Populates the Financial Strength Rating from the AM Best database. c) Adds the Financial Size Category from the AM Best database. d) Updates the "Last Updated Date" for the AM Best Rating to the import date.
- If no NAIC# is provided, the coverage will be imported without an associated insurer.
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Handling Multiple Coverages:
- You can import multiple coverages for a single certificate.
- Each coverage can have a different NAIC# or share the same one.
- The system will process each coverage individually while maintaining its association with the correct certificate.
By using the Insurer NAIC# field, you streamline the process of associating AM Best Ratings with your imported certificates, enhancing your ability to assess and manage insurance compliance effectively.
Troubleshooting and FAQs
- Q: Why isn't the insurer information showing for my imported coverage?
- A: Ensure you've provided a valid NAIC# in the import. If no NAIC# is provided, no insurer information will be associated.
- Q: Can I import AM Best ratings directly?
- A: No, the system retrieves current AM Best ratings based on the provided NAIC#.
- Q: What if my NAIC# is in a different format?
- A: For Classic imports (format "2131-20494"), use only the numbers after the dash. Otherwise, use the standard numerical format.