Insurance Follow-Up [R0904]

The Insurance Follow-up report [R0904] provides a follow-up for receipt of required insurance coverage documents. Changes to the status of insurance coverage may be entered through the Demographic update [U0204].

The report is organized by Portfolio, Company, Region, Office. The report may be accessed through the Operational report menu [R09] and may be selected interactively for:

• All leases
• A portfolio
• A company
• A region
• An office
• A lease

The report may be automatically generated for each portfolio at the end of the month through the End of Period update [U0401]. Use the End of Period MODULES AND REPORTS screen under the End of Period Customizations option of the Portfolio update [U0212] to specify whether the report is created.

 

Insurance Follow-Up Selection

• ALL
  Enter X to report on all leases. Leave blank to report on a specific portfolio, company, region, and/or office.

• PORT
  Enter the number of the portfolio upon which to report. Leave blank if reporting across portfolios.

• COMP
  Enter the number of the company upon which to report. Leave blank if reporting across companies.

• REGN
  Enter the number of the region upon which to report. Leave blank if reporting across regions.
  
  
• OFFIC
  Enter the number of the office upon which to report. Leave blank if reporting across offices.

• LEASE
  Enter the number of the lease upon which to report. Leave blank if reporting across leases.

 

Insurance Follow-Up Report

The Insurance Follow-up report [R0904] provides the following information for each lease with missing or incomplete insurance documents:

• LEASE
  
  
• LESSEE NAME/ADDRESS
  The complete mailing address of the lessee including name, address, city, state and ZIP is displayed. (This is not the lessee billing address.)

• LEASE DATE
  
  
• LEASE TERM
  
  
• INSURANCE TYPE
  The insurance type code (e.g., FULL = Full Coverage, SELF = Self-insured) of each insurance policy for the lease is displayed.
  
  
• INSURANCE EXP DATE
  The expiration date of the insurance coverage of each insurance policy for the lease is displayed.
  
  
• INSURANCE STATUS
  The long form of the status of each insurance policy for the lease is displayed. The following are the possible statuses which appear on the report:
  
  
  • BINDER ON FILE
  • CANCELLED
  • DUE TO EXPIRE
  • EXPIRED
  • INC/MISSING ADD INS (Incomplete/Missing Additional Insured)
  • INCOMPLETE
  • INCORRECT COLISN DED (Incorrect Collision Deductible)
  • INCORRECT COMP DED (Incorrect Comprehensive Deductible)
  • INCORRECT ASSET I.D.
  • INCORRECT LIABILITY
  • INC/MISSING LOSS PAY (Incomplete/Missing Loss Payee)
  • INCORRECT NAME
  • NO BINDER OR POLICY
  • VERIFIED

  
  The only insurance statuses which do not appear on this exception report are "Complete and Correct" and "NTRQ" (not required).

• ASSET
  The asset number(s) associated with the lease is displayed.

• SERIAL NUMBER
  
  
• TOTALS/ GRAND TOTALS
  Page totals show the number of assets and leases by office.

  Region, company, portfolio, and grand totals are shown for the number of assets and leases.

 

Additonal Notes

Multiple lines of asset information may be displayed if the lease has more than one asset associated with it.

LeasePak automatically changes the insurance status to "expired" or "due to expire" based upon the current date and the expiration date of the policy. This automatic modification takes place during the End of Day process through the Insurance Status update [U0421]. The status is changed to "due to expire" 30 days before the expiration date of the policy. The status is changed to "expired" on the expiration date of the policy.

The Insurance Status update [U0421] may execute automatically at the end of the day through the End of Period update [U0401]. (Use the End of Period MODULES AND REPORTS screen under the End of Period Customizations option of the Portfolio update [U0212] to specify whether the update is executed.)

 

LeasePak  Reference Guide

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