Field notes
Short, practical notes on chargebacks, persistency, carrier status and keeping policies on the books, for owners running 5+ agents across carriers.
The short answer
A chargeback is the carrier taking back the unearned part of an advance when a policy lapses early. The cost to an owner is every advanced policy across every agent that misses payments in its first months. The fix is seeing those missed payments while there is still time to save the policy.
Lapse pending means a payment was missed and the policy is in its grace period. Coverage is still in force, but the policy lapses if the payment is not made before the window closes. Work these policies first: most clients still want the coverage.
Persistency is the share of policies still paying after a set number of months. Policy status can show active while payments fail, so measure it from payment records, and treat thin payment history as unknown rather than as a lapse.