This topic provides information on Specifying the Insurance Details.

1. Click Next in the previous data segment to proceed with the next data segment, after successfully capturing the data..
   The Insurance Maintenance screen is displayed.

   Figure 3-33 Insurance Maintenance

   
   

   
   Description of "Figure 3-33 Insurance Maintenance"

   
   

   Click
   
   icon. The Insurance Maintenance screen displays.

   Figure 3-34 Insurance Maintenance

   
   

   
   Description of "Figure 3-34 Insurance Maintenance"

   
   

   For more information on fields, refer to the field description table.

   Table 3-31 Fields and description of Insurance Maintenance

   Fields	Description
   Reference Number	The reference number is used to link a particular sub-system record to a particular child entity. Once the child collaterals are added, values entered in unique field considered for each of the collateral type are populated under reference number field of sub-system. You can select the reference number of any child collateral to link it to the sub-system record Reference Number All indicates that the Insurance record is applicable for all the linked Child Collaterals rather than any specific Child Collateral. For information on unique fields based on which the Reference Number field values are populated, refer Table 3-33.
   Insurance Name	Click the icon and select the insurance name/insurance company associated with the collateral. The option list displays all valid insurance company names maintained in the system.
   Insurance Number	Specify the insurance number under which that insurance has been issued.
   Insurance Owner	Select the policy owner from the drop-down list. The available options are: Bank Customer
   Insurance Type	Click the icon and select the insurance type that is associated with that collateral. The option list displays all valid insurance types maintained in the system. Select the appropriate one.
   Insurance Code	Specify the insurance code of the policy for which you want to capture insurance details.
   Coverage	Coverage is derived considering insurance amount and collateral amount
   Start Date	Specify the start date for that insurance.
   End Date	Specify the end date for that insurance.
   Revision Date	Specify the review date of the insurance.
   Cover Date	Specify the date from which the insurance policy is valid. The insurance cover date cannot be greater than the collateral expiry date.
   Policy Assigned to Bank	Select the policy assigned to bank from the drop-down list. The available options are: Yes No
   Policy Assignment Date	Specify the policy assignment date of insurance.
   Insurance Amount	Specify the insurance amount of the policy.
   Insurance Currency	Click the icon and select the insurance currency of the policy.
   Required Sum Insured	On clicking Save, collateral value is defaulted as the value of Insurance policy to be taken to cover the collateral asset.
   Shortfall in Insurance	If the insurance coverage amount is less than Required Sum Insured value, the difference is calculated and displayed as Shortfall in Insurance.
   Premium Periodicity	Select the premium periodicity of the insurance. The available options are: Daily Weekly Monthly Quarterly Half Yearly Yearly One-Time
   Premium Currency	Click the icon and select the premium currency to be paid.
   Premium Amount	Specify the premium amount to be paid.
   Premium End Date	Specify the premium end date of payment.
   Premium Status	Select the premium status from the drop-down list. The available options are: Paid Unpaid
   Insurance Policy Endorsed in Favor	Click the icon and select the bank in favor of which the insurance policy is endorsed. The options are available in the list of values: Own Bank Lead Bank Security Trustee
   Lenders Insurance Advisor Appointed	Select the Lenders Insurance Advisor Appointed from the drop-down list. The available options are: Yes No Not Applicable
   Lenders Insurance Advisor Report Date	Specify the Lenders Insurance Advisor Report Date on which report is received from the Lenders Insurance Advisor.
   Lenders Insurance Advisor (LIA)	Specify the name of Lenders Insurance Advisor, if LIA Appointed value is selected as Yes.

2. Click Save to save the record. Click Next to navigate to the next data segment, after successfully capturing the data.

   Example of Reference Number: If two child collaterals of type vehicle are added with VIN number as VIN1234 and VIN2345 respectively, then these VIN numbers are available under reference number column in the sub-system. You can signify the linkage between the sub-system (for example, Insurance) records and the corresponding child collaterals by selecting the reference number as VIN1234 for one record and as VIN2345 for the other record. In case you need to add a particular sub-system record at main collateral level, select ALL as the Reference number.

   Table 3-32 Collaterals Type Unique Fields

   Collateral Type	Unique Fields
   Corporate Deposits	Deposit reference
   Inventory	Entity reference number
   Account receivable	Entity reference number
   Guarantee	Reference Number
   Other bank deposits	Deposit account number
   Accounts & Contracts	Contract Reference
   Main Screen	No child supported
   Obligation	Guarantor CIF Number
   Insurance	Policy No
   Funds	Folio Number
   Bonds	Folio Number
   Stocks	Folio Number
   Commercial papers	Reference Number
   Agriculture	Entity reference number
   Perishables	Entity reference number
   Commodities	Item Reference
   Metals	Serial Number
   Property	Registration Number
   Vehicles	Vehicle Identification Number
   Machinery	Serial Number
   NI-PDC	Cheque Number
   NI-DPN	Reference Number
   NI-BE	Reference Number
   Water Vessels	Registration Number
   Aircraft	License No