inland transit insurance

[Former Member]

In Inland transit Insurance, we have two parts one related to Insurance policy for a sum assured taken for one year against a fixed premium and monthly declaration is given to insuarnce co having details of despatch particulars with value thereof. At end of each month the sum assured for which policy is taken is reduced by the total value of declaration . This keep on going till sum assuraned comes down to a minimum level and again preimum is given to insunace co and sum assured is increased. The whole system runs for one year for which ploicy is valid. At the expiry of the policy new policy is taken with the same system.

Second part is Insurance claim where transit losses are claimed from insurance co but the invoice against which loss is occured, must be covered in the monthly declaratiion given to insurance co as mentioned above. The insuance claim is setlled as per plocy condition and transit losses are either replaced to customer free of cost or customer deducts payment form our invoice and accordingly necessary adjustment is done in customer ledger.

please also confirm the alternative if above is not possible in SAP standard.

[Lakshmipathi]

Dear Santosh

When you take a policy, you need to deposit some amount which will will have to be addressed from FI side who will account this as expense amount.

For premium amount, you have to create a condition type for this and assign it in your pricing procedure. Since the premium relates to customer, maintain table 307 as access sequence in V/07 and maintain the required percentage in VK11.

If you would like to have this insurance based on Inco terms, in access sequence, maintain table 033 or 034.

thanks

G. Lakshmipathi

[Former Member]

thank you for answering,

but if i have more than one policy, then how can i maintain.