Renewals, bond subtypes and premium floors
This first edition covers what reached the platform over the past few weeks.
Renewals
Available on request
A single worklist gathers the bonds approaching their expiration date. The carrier sets, per bond type, how far in advance each bond enters the list and whether the system only suggests the renewal or creates the draft for the bond's agency.
Bond subtypes
Available on request
Each carrier can register its own products within a bond type — labor court or tax enforcement bonds, for example — with their own rate, commission, aggregate exposure, clause set and regulatory coverage code. The most specific rule always wins, and a subtype is only required at issuance.
Minimum premium and minimum rate
Carriers can now set a premium floor and a rate floor per bond type, with a global default for the rest. A quote below the floor requires authority approval before it moves on.
Clause sets by state and by principal
Beyond bond type and subtype, a clause set can now apply to the obligee's state, the principal's state or one specific principal, and the bond form draft suggests the best matches first. Bond form templates can also be defined per rider type.
Principal history and evolution
Every credit bureau lookup is now kept. The principal's record shows how its indicators changed over time, Genoa's analysis takes that evolution into account, and a fresh lookup can be requested at any moment.
Quote validity
Available on request
A quote now expires after a configurable number of calendar days, counted from the day it is recorded. The opportunity shows as Expired until a new quote is recorded, and the bond form draft prints the same validity.
More direct Genoa analyses
Underwriting opinions are now written in plain business language and close with a single decision. The chat and the work queue show what the analysis is doing in real time.