What is the key difference between an 'endorsed' and a 'rewritten' policy in an agency management system?
-
A
An endorsement modifies an existing policy mid-term; a rewrite issues a new policy replacing the old one
-
B
An endorsement requires carrier approval while a rewrite does not
-
C
A rewrite is used only for commercial lines; an endorsement only for personal lines
-
D
An endorsement changes the policyholder; a rewrite changes the carrier