This guide outlines the steps to request, track, and manage a waiver in the Advocate Platform.
Prerequisites
All other perils and material items must be compliant on the Policy and in the Advocate Platform before requesting a waiver for the last non-compliant item(s).
The need for coverage for the potentially waived peril or item must have been communicated to the Broker, and the Broker's best efforts should have been made to find coverage before requesting a waiver.
Fields, Columns, and Statuses
Peril / Material Item – the specific compliance requirement on a Policy that a waiver request is submitted for, when it cannot otherwise reach compliance.
Waiver status – the state of a waiver request as it moves through the Lender's review (Requested, Submitted, Approved, or Rejected).
Edit waiver – reopens the waiver request to update its fields or attached documents.
Copy link to waiver – copies a direct link to the waiver request, from the three-dot menu.
Show in policy – jumps from the waiver request back to the Policy it's tied to.
Delete waiver – removes the waiver request entirely.
Policy Revisions – the list of non-compliant perils and material items on a Policy; a waiver in Requested or Submitted status appears here, and drops off once the waiver is Approved.
Step 1: Submit a Waiver Request
Click the three dots next to the peril or material item you want to submit a waiver for.
Click "+ Waive requirement".
Step 2: Enter the Waiver Details
Fill in all required fields and any additional fields that will help manage the waiver request.
Step 3: Upload Documents and Create the Waiver
Upload all documents the Lender will require to review the waiver request. Drag and drop the files, or upload them directly at the bottom of the window.
Click "Create waiver".
Step 4: Open the Waiver to Edit It
The new waiver request appears with a "Waiver requested" icon.
Click "Edit waiver" to open and update the waiver.
Step 5: Update the Waiver Status
Change the waiver status as the request moves through the Lender's review process: Requested, Submitted, Approved, or Rejected.
Step 6: Edit the Waiver Fields
If any waiver data fields need to be updated, click the "Edit" pencil icon in the top right.
Step 7: Log Waiver Activity
Anytime the waiver status changes or a note needs to be added, leave a comment in the Activity section at the bottom of the waiver so there is a record of the Lender's decision.
Step 8: Check the Waiver Status on the Compliance Tab
The waiver status is visible at a glance on the Compliance tab when the peril or item is expanded.
Step 9: Review the Waiver on Policy Revisions
Once a waiver is in "Requested" status, this information appears in the Policy Revisions. If the waiver moves to "Approved", the revisions no longer show that peril as a non-compliant item.
Step 10: Create a "Waiver Required" Task (Optional)
Optionally, track the progress of the waiver by creating a "Waiver Required" task on the Overview tab.
Click "New task", select the type "Waiver Required", then click "Create".
Step 11: Complete the Waiver Required Task
If a "Waiver Required" task was created, assign it to the correct team member, add a due date for the next action, select the Policy the task is associated with, and add a comment explaining what action needs to be taken before or on the task due date.
The waiver request process is complete.
What Happens Next?
When a waiver is moved to "Approved," the peril or item is waived and shows as compliant in the platform for the current Policy term.
It drops off the Policy Revisions and shows as compliant in the Compliance tab and on the Compliance report.
If the waiver is approved and all other perils or items are compliant, the user is ready to proceed with approving the Policy.
If the waiver is approved and any waiver tasks are open on the Overview tab, they can be marked complete.
If the waiver is rejected by the Lender, inform the Broker so they can find a way to place the compliant coverage.
Additional Resources
For more information on the Compliance tab, refer to the Understanding the Compliance Tab guide.
For more information on reviewing a Policy, refer to the How to Review a Policy guide.
For more information on generating policy revisions, refer to the How to Generate Policy Revisions guide.