Policy Categoryis
the type of insurance coverage. It is used in the Risk Management
(Claims Handling) system, and is optional. You can click on the
Prompt 
button
to select the category from a list. Possible values are:
- Cargo - may be broken down into multiple policy types.
- Employer's Liability - indemnifies against any liability for
injuries, sickness, and disease suffered by employees.
- Motor - may be broken down into multiple policy types.
- Personal Accident & Business Travel - Personal Accident provides
compensation for the death by accident of employees while working
for you. Business Travel provides travel benefits for individuals
(personal baggage, money, etc.) while engaged on business trips.
- Public Liability - indemnifies against any liability for bodily
injury and/or property damage to non-employees.
- Property - indemnifies against fire and specified perils to buildings,
contents, stock, machinery, and office equipment.
Policy Typeis
a sub-category. For example, a Motor category might have policy
types of Motor - Direct; Motor - Contingent; Motor Traders Service
Indemnity. A Cargo category might have policy types of Home Movers
Insurance; Goods in Transit; Warehousing. It is used in the Risk
Management system and is optional. You can click on the Prompt
button to select the policy
type from a list.
Policy Excessis the policy deductible. It is informational only.
Currencyis
the currency that the policy excess is in. You can click on the
Prompt button
to select the currency from a list.
Policy Start Dateis
the date the insurance policy goes into effect. You can click
on the calendar 
button to select the date.
Expiry Dateis
the date the insurance policy coverage will end. It can be left
blank for an ongoing policy. You can click on the calendar button to select the date.
Ongoing policies may be handled in
one of two ways: The policy expiration date can be left blank,
which will cause Enrich to never report the policy
as expiring. Alternatively, an endorsement can be added to indicate
that the policy is ongoing. Then, entering a review date into
the expiry date field will cause Enrich
to prompt a review of the policy as it approaches that date. When
the user performs the review, the endorsement will be a reminder
that the policy is truly ongoing.
Cancellation Dateis
the date the policy was cancelled, if applicable. You can click
on the calendar
button to select the date.
Companyis
the company that the policy has been issued for. Only one of named
insured Company or Customer can be entered. If there is more than
one named insured company, you can enter one here and the rest
through the Named Insured option on the Edit Insurance Policy
Details display screen. You can click on the Prompt
button to select the company from a list.
Customeris
the customer that the policy has been issued for. Only one of
named insured Company or Customer can be entered. You can click
on the Prompt
button to select the customer from a list.
Insurance Agencyis
the insurance broker -- the company that serves as an agent between
the insurance company and the named insured. It is optional. You
can click on the Prompt button to select
the agency from a list.
Blanket Policyidentifies
whether or not this is a blanket policy and/or whether only leases
or rental agreements covered by this policy are blanket policies.
- If you have Blanket Policy set to No, then both Lease and Rental
will be schedule of units.
- If you have Blanket Policy set to Both, then both Lease and Rental
will be blanket policy.
- If you have Blanket Policy set to Lease, then Rental will be
schedule of units and Lease will be blanket policy.
- If you have Blanket Policy set to Rental, then Lease will be
schedule of units and Rental will be blanket policy.
A blanket policy covers all units
the policy owner has applied to the policy without the need for
the policy owner to report the specific unit numbers to the insurance
agent. These are typically more costly policies, and the premium
is often based on the number of units on the policy at specific
intervals.
If the policy is not a blanket policy,
it is a schedule of units policy. The schedule policy requires
that the units on the policy be reported to the insurance agent
as the policy owner applies them to the policy. It is the responsibility
of the policy owner to report the addition of the unit to the
policy. Enrich tracks the policies that require
a schedule, reminds the user that the policy requires the addition
of the unit to be reported (through the Unit option on the Edit
Insurance Policy Details display screen) and compares the schedule
of units in the insurance policy database to the active contracts
to report any discrepancies.
For Lease: When Rule 029-Ins Match
on Sched A is set to Yes and Rule 010-Sched of Units Wdw (E=ERROR
W=WARN) is either W or E, and Blanket Policy is set to Both or
Lease, a warning that this contract is a schedule of units will
come up if you are activating the lease.
For Rental: When Rule 010-Sched of
Units Wdw (E=ERROR W=WARN) is either W or E, and Blanket Policy
is No or Rental, a warning that this contract is a schedule of
units will come up if you are activating the rental.
For Reservations: When Rule 010-Sched
of Units Wdw (E=ERROR W=WARN) is either W or E, if Blanket is
set to Lease, then that would imply that Rentals are schedule
of units, so you should get the pop-up message when activating
the Reservation and when turning it into a rental. If set to Blanket=No,
then you should always receive the message. If Blanket is set
to Rental or Both, then the reservation will be processed without
the schedule of units warning."
Government Policyif checked, identifies that the policy is obtained through a government insurance agency such as ICBC in British Columbia. If the Asset Management business parameter Use Govt Policy Flag on Ins Policies is set to No, this field will be hidden.
- Note: If the policy is not on a contract, you will be able to change company/customer. If it is on a contract, you will only be able to change the customer for a customer policy or the company for a company policy.
to save the changes.