Insurance Compliance Calculations

This article provides an overview of recent and upcoming updates to Prism Insurance's compliance status calculations. These changes aim to improve accuracy and consistency across certificates, properties, and companies. If you've noticed changes in compliance statuses or have questions about how they're determined, this article will help clarify the new system.

Topics Covered:

• Current Changes (Released April 9, 2025)
• Upcoming Changes (Releasing April 23, 2025)
• Profile Hierarchy and Compliance Determination

Certificate Status Update (Released April 9, 2025):

• The "Certificate Status" column has been updated on the Certificates grid, Certificate header, and Company page > Certificates tab.
  • Status options are now: Compliant, Non-Compliant, and Pending.
  • Compliance is based on property requirements and certificate end date.
  • Certificate End Date is determined by the earliest policy End Date on the COI.
  • Expired and Upcoming Expiry are now separate from compliance status.
• Clearer Distinction:
  • "Expired" status is now separate from compliance. Certificates with passed end dates will be labeled as "Non-Compliant" in the Certificate Status column but can be filtered separately using the "Expired" filter.
  • "Upcoming Expiry" (next 90 days) is also separate from compliance status and can be filtered independently.

Upcoming Changes (Releasing April 23, 2025)

The April 23, 2025 release will focus on Property and Company status updates:

1. Upcoming Property Status Update:

   • The "Insurance Status" column in the Properties grid on the Company page will be enhanced.
   • Status options will be: Compliant and Non-Compliant.
   • Compliance will be calculated across all unexpired certificates for the property.
   • The update will improve accuracy in the Work Order "Assign To" field.

2. Upcoming Company Status Update:

   • The "Compliance Status" column in the Companies grid will be updated.
   • The "Insurance Status" field on the Company page will be refined.
   • Status options will be: Compliant and Non-Compliant.
   • A company will be Compliant only if all its properties are Compliant.

Profile Hierarchy and Compliance Determination

This update clarifies how compliance is determined when multiple profiles exist:

1. Profile Selection Hierarchy:

   • Company profile takes precedence over property profiles.
   • If no company profile exists, individual property profiles are used.
   • When no profiles are set, the status is automatically calculated as Compliant.

2. Certificates with Multiple Properties:

   • If a company profile exists, all properties must meet the company profile requirements.
   • If only property profiles exist, each property must meet its individual profile requirements.
   • If no profiles exist for company or properties, all are automatically calculated as Compliant.

These changes aim to provide more consistent and accurate compliance calculations across certificates, properties, and companies in the Prism Insurance system.