April 1, 2020
Dynamic High Water Mark Fresh Start Reminder
Opportunities for PIP benefits are better than ever!
As a reminder, policies with no current increase in process had the High Water Mark (HWM) reset to actual premium received in the last 12 months. Opportunities for PIP benefits are better than ever!
PIP Changes Effective March 30, 2020:
- Every annualized increase of $300 + over the HWM in policy years 1 to 15 will receive PIP benefits
- High Water Mark fresh start: All policies without an active PIP will have HWM set to actual premium received in last 12 months
- No minimum time required between increases
- New online submission screen on the agent portal for speedy PIP recognition
- Two consecutive identical increases recognized if online tool is not used
- Full PIP recognition on increases that last less than a year
