When is payment required after subjectivities have been approved?

Overview

For a binder to be issued, the process varies depending on whether you use PathPay Insured or PathPay Agency. Below are the specific steps for each.

Similar to Insured Bill, insureds are sent a link to pay via Ascend, prior to binding, to ensure faster service.

After subjectivities are approved, Pathpoint's underwriting team and Ascend will send a payment link to the insured. Pathpoint will also send an email to the agent with a copy of the payment link.
The insured has three business days to make the payment.
If no payment is received within this timeframe, underwriting will decline to bind the account.
While the account can be bound later, the original effective date cannot be held.

In the case of Agency Bill, the agency is responsible for payment within 20-calendar days of the policy effective date.

For agency-billed accounts, coverage is bound once subjectivities are approved.
An Ascend invoice is uploaded to Pathpoint with a 20-calendar-day payment deadline.

What happens if subjectivities are rejected?

If subjectivities are not approved, the agent has five business days to provide corrected subjectivities. If corrected subjectivities are not submitted within this timeframe, the bind request will be declined. The account can still be bound later; however, the originally requested effective date cannot be held due to carrier policies that do not allow backdating coverage.

How many days do insureds have to pay using PathPay Insured?

How do I help my insured pay for PathPay Insured?

Ascend will send an email and digital payment link to the agency payment contact. This link will be reflected in your Pathpoint account. You can copy the digital payment link and send it to your insured.

What happens if payment isn't received within the required timeframe?

Binding must be re-requested, and the documents may need to be re-signed. A current No Known Loss Letter may be needed.