How To Fix FVD_LOS151 - No insured party has been specified for the insurance policy

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_LOS - Message Class for Loan Origination

• Message number: 151

• Message text: No insured party has been specified for the insurance policy

What causes this issue?

If an insurance policy is to be transferred to the ITEM table in the
message structure with the data for the loan, the data for the insured
party must be entered in the relevant structure PAYER_PARTY.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_LOS151 - No insured party has been specified for the insurance policy ?

  The SAP error message FVD_LOS151 indicates that there is no insured party specified for the insurance policy in the system. This error typically arises in the context of insurance management within SAP, particularly when dealing with insurance contracts or policies.
  Cause:
  The primary cause of this error is that the system requires an insured party to be defined for the insurance policy, but it has not been provided. This could happen due to several reasons:
  
  Missing Data: The insured party information was not entered when creating or updating the insurance policy.
  Incorrect Configuration: The configuration settings for the insurance module may not be set up correctly, leading to missing mandatory fields.
  Data Migration Issues: If data was migrated from another system, the insured party information may not have been transferred correctly.
  
  Solution:
  To resolve the error, you can take the following steps:
  
  
  Check Policy Details:
  
  Navigate to the insurance policy in question and verify if the insured party is specified.
  If it is missing, you will need to add the insured party information.
  
  
  
  Update the Policy:
  
  Go to the transaction code related to insurance policy management (e.g., IP01 for creating a policy or IP02 for changing a policy).
  Enter the necessary details for the insured party and save the changes.
  
  
  
  Review Configuration:
  
  If the issue persists, check the configuration settings in the SAP system to ensure that the insured party field is set as mandatory and that the relevant settings are correctly configured.
  
  
  
  Data Migration Review:
  
  If the error occurred after a data migration, review the migration process to ensure that all necessary fields, including the insured party, were correctly populated.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on managing insurance policies and the required fields.
  
  
  
  Contact Support:
  
  If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes for insurance management, such as IP01, IP02, IP03 (for creating, changing, and displaying insurance policies).
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles: Ensure that the user has the appropriate permissions to edit insurance policy details.
  
  By following these steps, you should be able to identify and resolve the issue related to the FVD_LOS151 error message in SAP.