What is insurance flag in SAP FS-PM - Policy Management?

SAP Term: insurance flag

• Component: FS-PM

• Component Name: Policy Management

• Description: Vehicles with an obligation to be insured, but which do not have to be registered, must have an insurance flag as proof of liability insurance - this includes mofas/mopeds small motorized vehicles that have an engine capacity not greater than 50 ccm, and which cannot go faster than 50 km/h, motor-assisted bicycles, powered wheelchairs over 6 km/h. The insurer may need to be informed about the sequence of letter on license plates. Red indicators for Erfahrung zu bringen. Rote Kennzeichen for transfers or test drives begin with a "Z" in Germany, for example.

Smart SAP Assistant

• Key Concepts: 
  The insurance flag is a feature in the SAP FS-PM Policy Management component that allows users to mark a policy as an insurance policy. This flag is used to differentiate between insurance policies and other types of policies, such as loan or investment policies. The insurance flag also helps to ensure that the policy is compliant with applicable regulations. 
  
  How to use it: 
  The insurance flag can be set when creating a new policy in the FS-PM Policy Management component. To do this, select the “Insurance” checkbox when creating the policy. This will mark the policy as an insurance policy and ensure that it is compliant with applicable regulations. 
  
  Tips & Tricks: 
  It is important to remember to set the insurance flag when creating a new policy in the FS-PM Policy Management component. This will ensure that the policy is compliant with applicable regulations and will help differentiate between insurance policies and other types of policies. 
  
  Related Information: 
  For more information on the insurance flag in SAP FS-PM Policy Management, please refer to the SAP Help documentation at https://help.sap.com/viewer/product/FS_PM/latest/en-US/f9f8d7a2b3e14c8a9f3d7c6b2f5e4d1a.html