U04 End of Period

U0421 Insurance Status Update

For more information about End of Period,
refer to U04 End of Period Overview.

This module updates the insurance status code for leases with expired insurance policies. An insurance policy is expired if the insurance expiration date is on or before the current date. If so, the insurance status code is changed to "expired". This module also changes the insurance status code to "due to expire" starting 30 days before the actual insurance expiration date.

If insurance is not required or the lessee is self-insured, the status is not changed by this module. The Insurance Tracking module must be selected to run for only a single portfolio as it updates the entire database, not just the selected portfolio. If run on multiple Portfolios, it may cause LeasePak to fail during End of Period processes as both jobs may attempt to update the same record.

Skip Comments: There is no adverse effect if this update is skipped. The insurance status codes are changed by the next End of Day Insurance Status update.