The default insurance screen did not update my existing assets' insurance information
When the default insurance information is first added, it will not automatically update any existing assets' insurance information. When adding insurance information for the first time on existing asset records or new asset records, there will be an option in the Insurance tab to "Insert Default" which will copy the default insurance policy information to the asset. If an existing asset already has insurance information, the Insert Default button will not be available and changes will have to be made manually.
To set up the default insurance information, go to Fixed Assets → Setup → Default Insurance Policy.
In the Fixed Assets Insurance tab, choose Insert Default to copy the default insurance information to the asset.