Rebook With Capital-Cost Changes With Add-Ons Not Creating New Insurance Policy With New Premium (Doc ID 2271779.1)

Last updated on MAY 31, 2017

Applies to:

Oracle Lease and Finance Management - Version 12.2.5 and later
Information in this document applies to any platform.

Symptoms

On : 12.2.5 version, Insurance Modules

ACTUAL BEHAVIOR
---------------
During a Rebook with an update on Capital-cost using Asset Add-ons, existing policy is not cancelled and no new policy is created with new Premium.

EXPECTED BEHAVIOR
-----------------------
Expect the existing policy to be canceled and a new policy to be created with a new premium

STEPS
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The issue can be reproduced at will with the following steps:
1) Created a Contract with an Asset-Cost (3000.00) and Add-on Cost (500.00) with a Total Capital-Cost as 3500.00
2) After Booking ran Automatic Insurance Program. Now new Insurance Policy created with correct-premimum based on Insurance Premium Factor (%) setup for calculation basis on Capital-Cost
3) Now Contract is rebooked with effective-date same as contract-start-date, but increased Add-on Cost from 500.00 to 1000.00.
4) Existing policy is not cancelled and there is no new Insurance policy created with the new Capital-cost basis, which 4000.00


BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, incorrect insurance is being billed.

Changes

 

Cause

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