Modifiers

A modifier allows an underwriter to apply a surcharge or a discount to a policy premium based on risk characteristics.

Supported modifier types

Rate, scheduled rate, Boolean, and date modifiers are supported on the product, product line, and risk object levels. Drop-down list modifiers are supported on the product line and risk object levels but not on the product level.

Modifiers in a multi-line product

Product-level modifiers are not copied over when the product is attached to a multi-line product.

Uniqueness constraint for modifier short names

Short names (code identifiers) for modifiers and rate factors must be unique across a product line. If there are modifiers and rate factors on a line, or on any of the coverables of that line, they must have unique short names. However, duplicate codes can exist if they are on another line, or on the product. For example:
  • Product modifiers and rate factors can have the same code as line modifiers and rate factors.
  • If a product has two lines, Line1 and Line2, the modifiers and rate factors on Line1 can have the same code as the modifiers and rate factors on Line2.
  • Modifiers and rate factors on the product level cannot have the same code.
  • Modifiers and rate factors on the same line cannot have the same code.