Creating a Cancellation Endorsement

Create a cancellation endorsement to cancel a policy

Applies to:

• Producers / Underwriters

• Assistants

This article explains how to create a Cancellation Endorsement to terminate a policy in BindHQ.

Note: Unlike regular endorsements, Cancellation Endorsements do not require you to issue Endorsement 0 first.

Sections

• Start a Cancellation Endorsement

• Fill in Endorsement Details

• Calculate Return Premium

• Save & Issue

Start a Cancellation Endorsement

1. Navigate to a Policy screen.

2. Select the Endorsements tab.

3. Click Cancel Policy in the upper-right corner.

Fill in Endorsement Details

The Cancel Policy screen opens.

1. In the Cancellation Reason dropdown, choose the reason (e.g., Non-Payment).

2. In the Cancellation Description, explain the reason for cancellation.

3. Enter the Endorsement Effective Date.

Click Save and Exit to move to premium calculation.

Calculate Return Premium

1. In the Cancellation Method section, choose the appropriate method:

   • Flat – return 100% of premium if no exposure occurred

   • Pro Rata – refund for unearned time

   • Short Term – pro rata minus admin fees

1. Enter refund values using negative numbers (e.g., -500.00) in the Premium section.
   Taxes and fees will be auto-calculated.

Note: Use a minus sign (–) to enter return premiums.

Save & Issue

1. Confirm the final refund total in the summary bar.

2. Click Issue to complete the Cancellation Endorsement.