NBS – New Business – This means it is a new policy from the scratch. Carriers send the detail of the new policy, its coverages, insured party info, etc back to the agent through the AL3 file.
REW – Rewrite – This means an old policy was canceled earlier and is reactivated (could be due to any reason like major changes required, or premium schedule change, date of policy coverage to be changed, etc).
SYN – Policy Synchronization – This simply means for an existing policy carrier sends the entire information of the policy again back […]