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This article provides an overview of policy perils in the Advocate Platform, including how perils are assigned to policies and how peril settings affect the Checklist tab.
Overview
All Policies in the Advocate Platform will contain a combination of perils based on the Risk Profile and Asset requirements entered for the Case they are associated with.
For example, if a Risk Profile requires all Assets in the State of Florida to provide Sinkhole coverage, then sinkhole coverage will automatically populate in the Commercial Property policy settings for any Asset located in Florida.
Policy Settings
Each Peril that appears under the Policy Settings tab has a button which allows you to indicate if the peril is present in the policy. If the Peril is added to the policy later, you can update the Policy Settings to indicate that the peril is now included in the policy.
When a Peril is included in the policy and "Yes" is selected from the dropdown, an additional question set will appear asking if the limit for that peril follows the policy limit.
By selecting for these additional questions, the Advocate platform will adjust the fields that appear on the Checklist tab.
For example, if Named Storm is included in the policy and has the same limit as the policy but has a separate deductible, the Checklist tab will only populate a field to enter the Named Storm deductible. It will understand that the peril limit is the same as the policy limit.
