How to document insurance and indemnity details

In Model Application 5.2 and earlier, valuation, insurance and indemnity information about objects is managed on the Value | Insurance panel in Object catalogue records:

The fields on this panel are adequate for recording key financial and risk management details, but comprehensive valuations, insurance and indemnity documentation of collection items can involve more information and activities (actions) than these fields can accommodate. This is addressed with the Standard Model and the introduction of two data sources dedicated to managing valuations and insurance and indemnity matters: Insurance and indemnity and Valuation.

In this topic we describe how to document details about your institution’s insurance and indemnity policies in the Insurance and indemnity data source. When listing objects covered by a policy on the Covered objects panel, it is possible to link to a Valuation record that assesses an object's value; this is described here.

As well as recording information about the provider, policy, and coverage amount, an Insurance and Indemnity record lists all covered objects, with a link to a Valuation record that assesses an object's value, and it identifies locations and shipments that are covered by the policy. On the Actions panel, a basic workflow tool for managing tasks related to the current record, it is possible to document and manage any related activities (actions), such as scheduling meetings. Digital copies of documentation can be made available on the Digital References panel.

The panels available for managing and documenting insurance and indemnity policies are:

The purpose and use of many fields are clear and straightforward, and we only highlight those of particular importance below:

Insurance

This panel holds core information about the provider, policy, and amount of coverage, as well as the current status of the record:

Field group	Field	Details
(Policy details)	Record type / record_type (Df)	Mandatory drop list. Identify whether the record is for an insurance policy or indemnity A government-provided, low-cost or subsidized insurance that allows priceless objects to be insured at a reasonable price. agreement:
	Policy number / policy_number (PN)	Mandatory. Enter the policy number. Tip: It is, of course, possible to create an Insurance and indemnity record in advance of the issuance of a policy; in this situation, you would enter a temporary policy number (and set Status to pending). If the policy is issued, edit the record and update Policy number.
	Begin date / date_start (DS) Expiration date / date_end (DE)	Start date (mandatory) and expiration date for the policy. Begin date marks the start of the coverage; from this date, the policyholder is protected under the terms of the policy, and any claims made for events occurring on or after this date are eligible for coverage (compare to Date confirmed). Type a date or click the Calendar icon to select a date (details about date fields and how to use the Calendar can be found here).
	Date confirmed / date_confirmed (Dc)	The date when the policy is officially confirmed or issued by the insurer; this is not necessarily the same as the Begin date. Date confirmed is an administrative date and indicates when the policy details were finalized and confirmed by the insurance company.
	Reference number / reference_number (RN)	A reference number for the record. If you do not provide a reference number, a number is automatically assigned when the record is saved.
	Summary of coverage / description (BE) Limitations / exclusions / limitations_exclusions (lx)	Text fields for recording details about the coverage and any exclusions (the fields will expand to hold a significant amount of information).
	External file / external_file (EX)	Text field. Identify the location of a file related to this record but stored externally to Axiell Collections (this could be a digital file stored on another server or perhaps a hard copy original document, for instance). The Digital references panel is available to attach digital files to a record, but there may be reasons why your institution does not want copies of files in multiple locations or to attach them to a Collections record; in these instances, External file can describe the location of the file.
Insurance carrier		Address and contact details for the insurance company.
Insurance carrier	Insurance carrier / insurance_carrier (C1)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to Persons and institutions. Start typing the insurance company name and select it from the drop list, or click the Link icon to display the Find data for the field box and search for the relevant record. Details about working with the Find data for the field box can be found here.
Coverage details		Here you record the Minimum liability amount and General liability amount of the policy and the Currency of each value.
Renewal history	Renewal date / renewal.date (DR) Notes / renewal.notes (RH)	Record the date on which the policy is due for renewal. Provide any important information about the renewal in the Notes field.
Current status		Manage the current status of this policy record, including who set the status and when (Status date / Status time); any additional information can be added to Status note (current_status.note (sN)). Typically, an Insurance and indemnity record is created for a policy that has been issued, in which case Status will invariably be approved or open when the record is created; however, it is possible to create a record in advance of the issuance of a policy, with a future Begin date and temporary Policy number, in which case Status will likely be pending, may subsequently be rejected, and so on. Any change to the Current status of the is tracked on the Status history panel.
	Status / current_status (sS)	Drop list of values. Select the current status of the record: pending pending approval approved open completed rejected cancelled
	Status by / current_status.name (sB)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to Persons and institutions. Specify who set the status.
Record summary	Record summary / record_summary (Z0	An auto-generated summary of the record's data taken from one or more key fields. More details here.

Requests

Repeatable group of fields used to record details about the person (or people) who requested the insurance coverage:

Field	Details
Name / requester (BA)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to Persons and institutions. Start typing the name of the person who requested the coverage and select it from the drop list, or click the Link icon to display the Find data for the field box; search for the relevant person or create a record in Persons and institutions and link to it (if authorized to do so). Details about working with the Find data for the field box can be found here.
Role / requester.role (A2)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to the Thesaurus. Identify the person's role: start typing the name of a role and select it from the drop list, or click the Link icon to display the Find data for the field box; search for the relevant term or create a record in the Thesaurus and link to it (if authorized to do so).
Date / requester.request_date (rD)	The date on which the request was made. Type a date or click the Calendar icon to select a date (details about date fields and how to use the Calendar can be found here).
Note / requester.notes (A8)	Enter details about the person's involvement with the coverage request. ‘Covered objects’ – ‘Valuation’ – might be worth noting the oddity of Valuation links in general, that you enter the reference code of the valuation to find it, but the box will show you the value attached to that reference code, not the reference code. E.g. entering ‘180’ in the demo database will get you a valuation for $25,000. Also, this box is filtered to show just valuations for this object specifically, so it isn’t as confusing as it may seem initially. What you’ve got written here is correct, but I wonder if more info wouldn’t go unappreciated

Authorisations

In accordance with the SPECTRUM standard, we record who gave authorization to secure the insurance / indemnity; however, the Authorisation fields are repeatable, which makes it possible to record everyone providing authorization at any stage of the process:

Field	Details
Authorised by / authorisation.name (AN)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to Persons and institutions. Start typing the name of a person who has provided authorization for some stage of the process and select it from the drop list, or click the Link icon to display the Find data for the field box; search for the relevant person or create a record in Persons and institutions and link to it (if authorized to do so). Details about working with the Find data for the field box can be found here.
Role / requester.role (A2)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to the Thesaurus. Identify the person's role: start typing the name of a role and select it from the drop list, or click the Link icon to display the Find data for the field box; search for the relevant term or create a record in the Thesaurus and link to it (if authorized to do so).
Date / authorisation.date (AD)	The date on which authorization was given. Type a date or click the Calendar icon to select a date (details about date fields and how to use the Calendar can be found here).
Note / authorisation.notes (An)	Details about the type of authorization given.

Covered objects

This panel holds a repeatable group of fields enabling you to list all objects covered by the policy:

Field	Details
Object number / object.object_number (IN)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to the Catalogue. Enter an object number if known or click the Link icon to display the Find data for the field box and search for the relevant object. Details about working with the Find data for the field box can be found here. Dataset and Summary are auto-completed with details from the selected Catalogue record.
Valuation / object.valuation (T4)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to the Valuation data source. If known, enter the reference number of the Valuation record that assesses an object's value or click the Link icon to display the Find data for the field box and search for the relevant record. The field is filtered to list only Valuation records for the object selected in Object number. When this record is saved, the Insurance fields in the linked Valuation record will update to include details of this Insurance and indemnity record. There is a peculiarity of Valuation Linked fields that is worth being aware of: while the field is looking for you to enter the reference number of a Valuation record, the values listed in the drop list (and the value that will display in the field) are financial (the actual valuation amount). You can see this if you place the cursor in the field; in this example there is only one Valuation record defined for the object selected in Object number: The reference number for this Valuation record is `249` and if you entered that in the Valuation field, you would see the valuation amount listed: Details about how to document object valuation details can be found here.
For transport? / object.insured_for_transport (it)	Checkbox indicating whether the object is insured for shipping.
Notes / object.notes (AJ)	Provide any important details about the object covered by this policy.

Locations and transports

This panel holds repeatable fields enabling you to identify all locations that are covered by the policy and all shipments that are covered:

Field group	Field	Details
Covered locations	Name / location.name (2A)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to the Locations and containers data source. Enter the identifier for a location or click the Link icon to display the Find data for the field box and search for the location. Details about working with the Find data for the field box can be found here.
Covered transports	Reference number / logistics.number (E1)	A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to the Movement and Shipping Logistics data source, where movements of one or more objects are planned. Enter the reference number for a Movement and Shipping Logistics record or click the Link icon to display the Find data for the field box and search for a record. Details about working with the Find data for the field box can be found here.

Field group

Field

Details

Covered locations

Name / location.name (2A)

A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to the Locations and containers data source. Enter the identifier for a location or click the Link icon to display the Find data for the field box and search for the location.

Details about working with the Find data for the field box can be found here.

Covered transports

Reference number / logistics.number (E1)

A Linked field A type of field used to link one record to another. A Linked field is a drop list of values (records that the field can link to). When a link is made, the field stores a reference to the linked record (a linkref). to the Movement and Shipping Logistics data source, where movements of one or more objects are planned. Enter the reference number for a Movement and Shipping Logistics record or click the Link icon to display the Find data for the field box and search for a record.

Details about working with the Find data for the field box can be found here.

Insurance and indemnity records include the Actions, Digital references, Media and Free fields panels.