Conversion involves transferring eligible Westfield small business policies from our legacy policy system into the new Westfield Small Business Platform.
We’ll convert each policy to The Platform on its current policy renewal date. If we are unable to convert a policy, we’ll renew the policy as usual in the legacy system and convert the policy during the next renewal cycle.
Reasons we’re not able to convert a policy:
- The policy is ineligible for new products.
- The policy does not match our appetite or available coverages.
- There is not enough information to complete the conversion.
A key factor in conversion is making sure that policies that match our small business definition and meet the criteria for our small business products – and that includes some middle market customers.
As a reminder, here’s the small business eligibility criteria:
|Primary Eligibility Criteria
||What's not eligible
|Package or SureStep BOP Policy Premium ≤ $75,000
|Workers' Compensation Policy Premium ≤ $75,000
|Total Account Premium ≤ $150,000
|Secondary Eligibility Criteria
|Total Insured Value (per location) ≤ $15,000,000
|Subcontracted Cost of Hire ≤ $15,000,000 ≤ 25 Vehicles
Be sure to contact your renewal underwriter with any questions about your converting policies.