Cover Notes are similar to policies and their business is same as policies but cover notes include major details and the rest of the details are to be provided later on, the user must apply a credit Note cancellation endorsement then convert this cover note to a policy.

 

 

The Premium of the Credit note will be calculated and posted to financial along with the Credit Note but no re-insurance or claims can be applied to the credit note. Moreover, the user cannot apply on any kind of endorsements except Credit Note Cancellation.

 

Note: To know the business of Cover Notes please refer to the Policies section;