What is settlement waiver in SAP FS-PM - Policy Management?

SAP Term: settlement waiver

• Component: FS-PM

• Component Name: Policy Management

• Description: An option for completing a business transaction for reported value settlement without generating settlement documents, for example if the difference premium is negligible.

Smart SAP Assistant

• Key Concepts: 
  Settlement waiver is a feature of the SAP FS-PM Policy Management component. It allows a policyholder to waive their right to receive a settlement payment from an insurance company. This waiver is typically used when the policyholder does not need or want the money, or when they are unable to receive it due to legal or financial reasons. 
  
  How to use it: 
  In order to use the settlement waiver feature, the policyholder must first contact their insurance company and request a waiver form. The form must be completed and signed by both the policyholder and the insurance company. Once the form is submitted, the insurance company will process the waiver and update their records accordingly. 
  
  Tips & Tricks: 
  It is important to note that settlement waivers are not always available for all policies. Additionally, some policies may require additional documentation or information before a waiver can be granted. It is important to check with your insurance company before requesting a settlement waiver. 
  
  Related Information: 
  Settlement waivers are just one of many features available in SAP FS-PM Policy Management. Other features include policy management, claims processing, and risk management. For more information about these features, please visit the SAP website.