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Insurance Table

Organizes insurance policies that are related to fixed assets.

When fixed assets are purchased and sold, insurance policies need to be updated so that they cover the current value of fixed assets that need to be insured. By using the insurance table to manage insurance policies, you can avoid excess costs associated with being overinsured and excess risks resulting from being underinsured.

Each fixed asset can be linked to one or more insurance policies. This makes it easy to ensure that the amount of coverage in an insurance policy corresponds to the value of fixed assets covered by the policy.

The insurance table contains a card for each insurance policy, on which you enter basic information, such as description, policy coverage, annual premium and policy number. Each insurance policy must also have an identifying number. When you enter the number in Insurance No. fields elsewhere in the program, in an insurance journal, for example, the program will automatically use information from the particular insurance policy.

The program can display the insurance policy in two different windows:

  • The Insurance Card window has a card for each insurance policy, containing all the fields you have selected. You can therefore see many fields for each insurance policy.

  • The Insurance List window displays all the insurance policies, with a line for each - therefore fewer fields are displayed for each insurance policy.

List of Fields in the Table

Field Location
FA Subclass Code Field, Insurance Table Fixed Assets
Global Dimension 2 Code Field, Insurance Table Fixed Assets
Policy Coverage Field, Insurance Table Fixed Assets
Description Field, Insurance Table Fixed Assets
Comment Field, Insurance Table Fixed Assets
Policy No. Field, Insurance Table Fixed Assets
Effective Date Field, Insurance Table Fixed Assets
Insurance Vendor No. Field, Insurance Table Fixed Assets
No. Field, Insurance Table Fixed Assets
Location Code Field, Insurance Table Fixed Assets
Global Dimension 1 Code Field, Insurance Table Fixed Assets
Blocked Field, Insurance Table Fixed Assets
Search Description Field, Insurance Table Fixed Assets
Last Date Modified Field, Insurance Table Fixed Assets
Insurance Type Field, Insurance Table Fixed Assets
No. Series Field, Insurance Table Fixed Assets
FA Location Code Field, Insurance Table Fixed Assets
Date Filter Field, Insurance Table Fixed Assets
FA Class Code Field, Insurance Table Fixed Assets
Annual Premium Field, Insurance Table Fixed Assets
Expiration Date Field, Insurance Table Fixed Assets
Total Value Insured Field, Insurance Table Fixed Assets

See Also

Reference

Insurance Card

Other Resources

How to: List Insurance Policies
How to: End Insurance Coverage of Fixed Assets