Policy Management – CyberFortress

The policy auto-renews every 30 days at midnight.
If the customer cancels their renewal, they must wait until their policy expires in order to sign up again. There is no way to re-activate a renewal.
We re-underwrite the customer every month. If their risk changes significantly in a negative direction, we may not renew their policy.

The customer can cancel their renewal or their policy.
If they cancel their policy, the renewal attached to that policy is also cancelled.
Cancellation of the policy goes into effect at midnight.
Cancellation of the renewal goes into effect immediately.
Cancellations lead to a pro-rata refund of the premium and surplus lines tax but no refund of the Stamping Fee.
If an insured cancels before the policy goes into effect, the entire amount we collected, Stamping Fee included, is refunded.

The customer’s card is charged immediately upon the initial purchase.
Renewals are billed 15 days before the policy period begins.
If payment fails, they will receive an email notification. If they have not updated their payment information 10 days out from the policy start date, their policy will be canceled.
Cancellations lead to a straight-line, pro-rata refund of the unearned premium and surplus lines tax but no refund of the Stamping Fee.