Policy holds

The purpose of a policy hold is to allow insurers to temporarily prevent certain transactions from taking place on policies within one or more geographic regions. There are two types of policy holds: underwriting and regulatory.

Underwriting holds are put in place to account for natural disasters. For example, insurers may not want to allow users to create or update policies in a region that is predicted to be hit by a hurricane in the near future.

Regulatory holds are put in place when regulations, such as rate or coverage changes, are in process. Insurers might not want to begin creating or updating a policy only to have to update it again when the change becomes official or is entered into the system.