How To Fix VINFO012 - IC: &1 dynamic premium increase refused (V005)

SAP Error Message - Details

• Message type: E = Error

• Message class: VINFO - Information Container

• Message number: 012

• Message text: IC: &1 dynamic premium increase refused (V005)

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message VINFO012 - IC: &1 dynamic premium increase refused (V005) ?

  The SAP error message VINFO012 IC: &1 dynamic premium increase refused (V005) typically relates to issues in the insurance module of SAP, particularly in the context of dynamic premium adjustments for insurance contracts. Here’s a breakdown of the potential causes, solutions, and related information for this error:
  Cause:
  
  
  Policy Conditions Not Met: The dynamic premium increase may be refused due to certain conditions not being met in the insurance policy. This could include factors like the policyholder's risk profile, claims history, or other underwriting criteria.
  
  
  Configuration Issues: There may be configuration settings in the SAP system that prevent the dynamic premium increase from being processed. This could involve settings related to premium calculation, risk assessment, or policy management.
  
  
  Data Inconsistencies: Inconsistent or incomplete data in the system regarding the policyholder or the insurance contract can lead to this error. This might include missing information or incorrect entries.
  
  
  Business Rules: The business rules defined in the system may not allow for a premium increase under certain circumstances, leading to the refusal of the increase.
  
  
  Solution:
  
  
  Review Policy Conditions: Check the specific conditions of the insurance policy to ensure that all requirements for a dynamic premium increase are met. This may involve reviewing the policyholder's risk profile and claims history.
  
  
  Check Configuration Settings: Review the configuration settings in the SAP system related to premium calculations and dynamic adjustments. Ensure that they are set up correctly and align with the business rules.
  
  
  Data Validation: Validate the data associated with the insurance contract and the policyholder. Ensure that all necessary information is complete and accurate.
  
  
  Consult Business Rules: Review the business rules that govern premium increases. If necessary, consult with the business or compliance teams to understand why the increase was refused and if any adjustments can be made.
  
  
  Error Logs: Check the SAP error logs for more detailed information about the error. This can provide insights into what specifically triggered the refusal.
  
  
  Contact Support: If the issue persists after checking the above points, consider reaching out to SAP support or your internal IT team for further assistance.
  
  
  Related Information:
  
  SAP Documentation: Refer to the official SAP documentation for the insurance module to understand the specific configurations and business rules that apply to dynamic premium increases.
  User Forums: Engage with SAP user communities or forums where similar issues may have been discussed. Other users may have encountered the same error and can provide insights or solutions.
  Training Resources: If you are frequently dealing with insurance-related configurations in SAP, consider training resources or courses that focus on the insurance module to enhance your understanding of the system.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.