Flood Re. Bordereaux Completion Guide Version 2

Transcription

1 Flood Re Bordereaux Completion Guide Version 2

2 1 TABLE F CNTENTS 1 Table of Contents Purpose/bjectives of this Document Intended Audience Top Tips for Bordereaux Completion CSV Formatting month policy duration Policy status Multiple monthly underwriting Bordereaux submissions Single monthly claims Bordereaux submission Underwriting risks validated and accepted by Flood Re before claims can be submitted Insurer policies with multiple properties (such as Holiday / 2nd homes) Policy Excess day rule Insurer Name Bordereau field Multiple units (up to a maximum of 3) MTA premium calculation Restating policy details at MTA CSV Headers Ceding Mid Term Policy Transaction Sequence Number Zeros and Blanks Recommendation for Resubmission of Errors Excess Applicable to Indemnity Payments nly Claims Movement Number Ex Gratia/FS Payments Accounting for Recoveries Event Catastrophe Code Interim Payments Fees Payable on Rejected Claims Multiple Movements within a Single MTA Transaction Web Portal Flood Re Bordereaux Process verview Underwriting Bordereau (Diagram 1) Claims Bordereau Document Name: Bordereaux Completion Guide V2 Page: 2 of 71

3 6 Flood Re - Monthly Submission Process Bordereau Preparation for Monthly Submission Process Preparing Underwriting and Claims Bordereaux Bordereaux Submission Timing Claims Bordereau Submission Sequence Bordereaux Versioning CSV and JSN Column Headers Bordereaux header data Underwriting Bordereau High Level Guidance Material Transactions Required Action and Reference data Policy Periods Best Practice for providing address fields Underwriting Fields Descriptions Rating risks and change of annual rates Restating Cover for transactions How to record Underwriting Transactions New Business (NBS) Mid-Term Adjustments (MTAs) that materially affect the policy premium: Adding/Deleting Sections (MAD) Move to New Address (MNA) Mid-Term Adjustments that D NT materially affect the policy premium Mid-Term Adjustments to cede a policy mid-term Renewal Transaction (REN) Void from Inception (VFI) Cancellations (CAN) Reinstatements (RIN) Useful Underwriting Information Calculation of Pro-Rata s Example 1: Mid Term Adjustment Change in Eligibility Category Example 2: Mid Term Adjustment Change in Eligibility Category for a previously un-ceded policy Example 3: Mid Term Adjustment Change in Eligibility Category followed by removal of Contents Cover Example 4: Mid Term Adjustments Change in Eligibility Category followed by removal of Contents Cover, and then Cancellation Document Name: Bordereaux Completion Guide V2 Page: 3 of 71

4 12 How to record Claims Transactions Claims Restatement Completion Claims Bordereau field descriptions Claims Bordereau Fields Useful Claims Information Underwriting and Claims Scenarios Underwriting Scenarios Claims Scenarios Appendix B Underwriting Reference Data Appendix C Claims Reference Data Contact Support Document Name: Bordereaux Completion Guide V2 Page: 4 of 71

5 2 PURPSE/BJECTIVES F THIS DCUMENT The purpose of this document is to provide Participants with the necessary guidance needed to cede business to Flood Re using the Bordereau process. The intention is to explain in nontechnical terms how to create monthly Bordereaux submissions and provide guidance on the data requirements to facilitate a smooth process. This document will also provide specific instruction around the monthly reporting cycle and clarify some frequently asked questions about how to cede particular risks and report them to Flood Re. Each month all ceded Underwriting risks and Claims will be submitted to Flood Re using agreed Flood Re Bordereau formats. In order to minimise any errors and reduce potential issues when generating Bordereaux, it is important to follow the guidelines in this document. This document should be read in conjunction with the: Bordereau Functional Design Specification (v4) Technical Specification (v4) Web Portal & Connectivity guide (v2.0) Underwriting Bordereaux (v4) Claims Bordereaux (v4) Document Name: Bordereaux Completion Guide V2 Page: 5 of 71

6 3 INTENDED AUDIENCE This document is intended for the industry Participant(s) who will submit Bordereau to Flood Re. Document Name: Bordereaux Completion Guide V2 Page: 6 of 71

7 4 TP TIPS FR BRDEREAUX CMPLETIN This section contains a list of the top ranking topics we think will help the Participants when preparing Bordereaux. A brief explanation of the historically issues that have caused problems has been added where applicable. 4.1 CSV Formatting Participants need to be aware that when using MS Excel to view a CSV Flood Re Bordereau file, the Bordereau Date formats may not appear as required for Flood re validation (i.e. date format might be what is seen in Excel but it is stored internally as date 20/01/2001). In order to avoid this validation error Flood Re recommends that Participants who want to view or amend their CSV files use some form of Notepad or CSV viewer software. If only Excel is available then the Participant will need to check and/or amend these fields as necessary to ensure that they are in the correct format month policy duration All policy durations ceded to Flood Re must be for 12 months. If a Participant writes business for periods shorter than this, the policy should be ceded for the full 12 months and then a Cancellation should be submitted once the policy expires. 4.3 Policy status Flood Re will follow the underwriting status supplied by the Participant. If the Participant reports a risk as 'New business' or a 'Renewal', Flood Re will accept the status reported. 4.4 Multiple monthly underwriting Bordereaux submissions Participants are allowed to submit up to a maximum of 99 accepted versions of the underwriting Bordereaux per calendar month. The latest Version number has to be higher than the last one used up to a maximum of 99 in any one month. 4.5 Single monthly claims Bordereaux submission Participants should provide one Bordereau per month which should contain one record for each open claim whether notified, updated, finalised or static. The Bordereau should represent the Participant s position as at the end of their reporting period. Corrected errors can be submitted in further Bordereau versions if submitted before the next month s Bordereau is received and validated. Document Name: Bordereaux Completion Guide V2 Page: 7 of 71

8 4.6 Underwriting risks validated and accepted by Flood Re before claims can be submitted. To avoid validation failures Participants must only submit claims on ceded risks that have been previously validated and accepted by Flood Re. Participants must therefore cede their monthly underwriting Bordereau prior to submitting their claim Bordereau. 4.7 Insurer policies with multiple properties (such as Holiday / 2nd homes) Where Participants allow their policy holders to insure multiple properties on a single policy, (and more than one of these are planned to be ceded to Flood Re), each property must be ceded individually to Flood Re with the relevant property tax band, individual premium and unique policy reference. 4.8 Policy Excess If the Participant s total excess amount applied to the original insured is greater than the Flood Re standard excess, the Participant must deduct their total excess amount applied from the claim being submitted to Flood Re. If the Participant s total policy excess amount applied is less than the Flood Re standard excess the Participant should apply their excess to their Paid values but apply the standard Flood Re excess when calculating Total Requested This Time day rule If a transaction is submitted to Flood Re 121 days on or after the Transaction Effective Date, then Flood Re will cover the risk from the date that it was successfully validated and accepted by Flood Re Insurer Name Bordereau field When adding the Participant name to the Insurer Name field, be aware that the length of this field is limited to 30 characters. If the Participant s name is longer, this will need to be shortened as necessary Multiple units (up to a maximum of 3) When ceding a multiple unit risk to Flood Re Participants must enter the 3 individual addresses in the requisite fields with the freeholders address entered in the first property address detail fields, as this will be used to determine the single property tax band and Flood Re premium due. This type of ceding can only be for buildings cover MTA premium calculation The Flood Re premium threshold will change each year on the 1st April based on the previous calendar year s CPI percentage increase. As a result MTA calculations must refer to the relevant premium threshold table rates. When refunding original cover the original premium Document Name: Bordereaux Completion Guide V2 Page: 8 of 71

9 should be referenced and when recalculating new cover the current premium table should be referenced Restating policy details at MTA When ceding MTA s the current policy details must also be restated. This includes MTA s where a new section of cover is being added to an already ceded section of cover. For example, where contents cover is being added to an existing buildings only policy, transactional premium for this ceding will only be for the new contents section, however the existing buildings cover details need to be restated but with a transactional premium of zero. For additional information please refer to the specific MTA Use Cases section within the Bordereau Functional specification CSV Headers When completing a CSV Bordereau file, it must be noted that the first 10 fields in each Bordereau entry must consist of Header data that is consistent for all ceded risks or claim entries within the same Bordereau Ceding Mid Term Risks can only be ceded for the first time Mid Term when a change of address has occurred. For example, when the original insured has moved from a property not previously ceded to Flood Re to one that is to be ceded, at some point within the current policy term. Flood Re would accept this being ceded for the first time at MTA, as long as the current policy term is effective for 12 months Policy Transaction Sequence Number The transaction sequence number included within the Bordereau for a specific risk must be incremental, for each transaction for that risk, from that used for the previous transaction ceded. Transaction sequence numbers do not need to be in sequential numerical order as only material MTAs have to be reported to Flood Re, so gaps in numbers may occur. For example, where an original insured changed their sum insured amounts for either Buildings, Contents or both, Flood Re must be informed of this change as it is a material change to the policy with Flood Re and is a data field on the Bordereau and the requisite risk Transaction sequence number could be included. However, an MTA for a change of the policy holder's name would not need to be submitted to Flood Re, as it is a non-material change to Flood Re (i.e. the policyholder s name is not captured on the bordereau). As a result this amendment and its transaction sequence number would not be submitted to Flood Re. In this scenario, there would be a numerical gap in Document Name: Bordereaux Completion Guide V2 Page: 9 of 71

10 transaction sequence numbers if a further subsequent MTA was made to the risk which was a material change, such as a change to cover sections. This is a mandatory field, and Participants must record multiple transactions within a single Bordereau in the sequence in which the transactions occurred to ensure successful validation Zeros and Blanks Depending on the field requirements, laid out in the Bordereau specification, empty fields needs to be completed with Zero, Space or Blank. A Zero required is self-explanatory, a Blank means that no entry must be included in this field including any spaces or an error will occur in validation Recommendation for Resubmission of Errors Entire Bordereau are rejected by Flood Re when any errors are identified as part of the validation process. All errors on a Bordereau will be reported back to the Participant following the Bordereau validation process. Flood Re recommends that Participants remove all risk lines with identified errors and resubmit the Bordereau to avoid any delay in ceding risks without errors. The erroneous risks can then be corrected separately and resubmitted on a separate Bordereau version for the month Excess Applicable to Indemnity Payments nly Excess amounts are to be applied to indemnity claim payments only. An excess is not applicable to claims where the claim is rejected, for whatever reason, and only fees are paid (e.g. loss adjuster fees) Claims Movement Number The Movement number is the transaction sequence number from the Participant's claims system at the point in time the claim s entry is submitted to Flood Re. This is an optional field but where a value is presented, it must be incremented from the previous submission Ex Gratia/FS Payments i) Flood Re will not reimburse Participants for ex-gratia payments which are made by a Participant for purely commercial reasons or compensation for service failure. ii) Flood Re will reimburse Participants where a FS award has been made subject to agreed policy terms (limits/excesses etc.), a process known as follow the fortunes, i.e. Flood Re to process the claim on the same basis as that between the claimant and the Participant. Any FS award made outside the terms of Flood Re, cover can be queried via the Managing Agent for clarification as to whether Flood Re will cover the claim. iii) Flood Re will not reimburse Participants for any element of a FS award relating to poor Document Name: Bordereaux Completion Guide V2 Page: 10 of 71

11 service. iv) Flood Re will reimburse a FS fee regardless of the final outcome. This is in order that a challenge is not deterred Accounting for Recoveries Participants should seek recovery of their outlay where possible. Participants may request reimbursement from Flood Re for their outlay before the recovery is completed. When a recovery is achieved, the recovery transaction should be added to the next claims Bordereau in order that Flood Re be reimbursed Event Catastrophe Code This field should be completed for claims that are related to a Catastrophe event that is designated by Flood Re and the Insurance Industry / London Market. The code will be communicated following such an event occurring Interim Payments In the exceptional event where an Interim claim payment has been agreed for a specific risk and paid to the Participant by Flood Re, the final claim request made by the Participant must be net of any interim payments previously requested and accepted Fees Payable on Rejected Claims In the event of a claim on a ceded policy, being notified to Flood Re and then subsequently rejected, for whatever reason, Flood Re will reimburse any fees (e.g. Loss Adjuster fees) that have been incurred on the claim by the Participant Multiple Movements within a Single MTA Transaction Where more than one amendment is made to a policy at mid-term and reported in a single MTA transaction on the Bordereau submission to Flood Re, the MTA reason code MND (Not defined) must be used, to avoid an error at validation. For example, if the main amendment on a policy is Change of Address, but a change is also made to the Buildings Sum Insured amount, then MND should be entered as the MTA reason code, rather than the Change of Address reason code. If a specific MTA code is utilised where there is more than one change, the change that does not relate to that code will be detected and the line will be rejected Web Portal The Flood Re Web portal is compatible on the following web browsers only: Internet Explorer (version 10 or later) Chrome (version 44 or later) Document Name: Bordereaux Completion Guide V2 Page: 11 of 71

12 Firefox (version 40 or later) Document Name: Bordereaux Completion Guide V2 Page: 12 of 71

13 5 FLD RE BRDEREAUX PRCESS VERVIEW Diagram 1 provides an overview of the monthly cycle used to submit Underwriting and Claims Bordereaux. 5.1 Underwriting Bordereau (Diagram 1) Each month the Participant will submit Underwriting Bordereaux to Flood Re using the following steps. Prepare Underwriting Bordereau Submit to Flood Re Validate Bordereau Confirm correct or Request amendment Make Payment - Add new risks to Bordereau - Provide correct address and FRid for all risks - Notify MTAs, cancellations and Renewals - Specify transactional - Create.CSV or.jsn format for insurers - Provide appropriate file naming convention - Submit to Flood Re for validation - Validation performed on format/schema - Data in address matched - Validation performed on business rules - Validation performed on values - If format is correct, pass validation - If not, insurer will be advised of errors - If business rules are correct, pass validation - If not, insurer will be advised of specific errors - nce bordereau has been accepted, a single transaction will be created for each bordereau and payment requested Document Name: Bordereaux Completion Guide V2 Page: 13 of 71

14 5.2 Claims Bordereau This process is designed to mimic the underwriting Bordereau submission as familiarity within the system helps support Participants. Prepare Claim Bordereaux Submit to Flood Re Validate Bordereau Confirm correct or Request amendment Make Payment - Add new claim to Bordereaux - Provide month end snapshot of position of all open claims irrespective of whether they have moved or not - Request payment on settled claims - Notify recoveries received - Create.CSV or.jsn format for insurers - Provide appropriate file naming convention - Submit to Flood Re for validation - Validation performed on format/schema - Claims should be properly referenced to Policy - Validation performed on business rules - Validation performed on Claim values - If format is correct, pass validation - If not, insurer will be advised of errors - If business rules are correct, pass validation - If not, insurer will be advised of specific errors - nce bordereau has been accepted, a single transaction will be created for each bordereau and payment requested Document Name: Bordereaux Completion Guide V2 Page: 14 of 71

15 There are five major steps involved in the submission process, some of which will be familiar to Participants who already use Bordereau reporting as part of their daily operation. 1. Prepare Bordereaux 5. and/or Claim payments 2. Submit Bordereaux to Flood Re 4. Flood Re Confirm acceptance 3. Flood Re Validate The End-to-End process is straightforward and consists of a few basic steps: Steps Description 1 The Participant will create monthly Bordereaux The Bordereaux will be submitted to Flood Re electronically via Web Portal or System-to-System Flood Re will validate the submission and electronically notify the Participant of any errors in the submission with appropriate error codes. If all records within the Underwriting or Claims Bordereau are not 100% validated, the file will be rejected The Participant then has the option of correcting the entries or removing and resubmitting the Bordereau nce the Bordereaux has been validated the Participant will receive appropriate confirmation Flood Re request premium and/or settle claim reimbursement (or refund if appropriate) Document Name: Bordereaux Completion Guide V2 Page: 15 of 71

16 6 FLD RE - MNTHLY SUBMISSIN PRCESS This section provides a basic understanding of the specific interactions involved in the Bordereaux submission process. The process is set out in diagram 2 below. Process Ref A B C D D1 E Description The process begins with the production of underwriting risks being ceded via the underwriting Bordereau. The Participant will create either a.csv or.jsn file, which can be uploaded via the Flood Re Web Portal. There is also an option to submit Bordereaux System-to-system process as described in the Technical specification. Following Bordereaux submission, the file will undergo technical and business rules validation. Validation failures will generate feedback of error messages back to the Participant and also to the Flood Re Service Desk. Participant will receive appropriate confirmation of successful Bordereaux validation and acceptance. Document Name: Bordereaux Completion Guide V2 Page: 16 of 71

17 7 BRDEREAU PREPARATIN FR MNTHLY SUBMISSIN PRCESS This document focuses on the preparation, submission and validation process which involves the Participant preparing the Bordereau and submitting it to Flood Re. The process diagram above illustrates two main methods of submitting Underwriting and Claims Bordereau; Web Portal or Web Services. This section will help with the preparation of data to be used in both methods. It also includes details of how to prepare.csv and.jsn files for submission via Web services. 7.1 Preparing Underwriting and Claims Bordereaux When preparing the Underwriting Bordereau, Participants are expected to provide a separate entry for each transaction ceded to Flood Re. If multiple transaction for a risk are ceded within the same month, we expect the transactions to appear in the correct order within the Bordereau. Submitting them out of sequence will result in an error message. The Claims Bordereau is a snapshot of all open claims and claims closed within the reporting period. This includes all open claims whether or not the claim has been updated within the current reporting month. 7.2 Bordereaux Submission Timing All underwriting and claims Bordereaux should be submitted in monthly chronological order. The Participant should be careful to submit Bordereaux promptly in order to ensure that the 120-day rule (detailed below) is not enacted. The Bordereau should be submitted and accepted by Flood Re before 23:45PM in order to be validated on that day. Any submission accepted after that time will be treated as being submitted on the following calendar day. 7.3 Claims Bordereau Submission Sequence All Bordereau should be submitted in sequence so for example, we should not receive June 2015 Bordereau before May nce all Bordereaux versions within a month have been submitted and the subsequent month has been processed, Participants cannot submit previous months. For example, if May 2015 and June 2015 version 1 have been submitted; whilst Participants can submit an additional version for the current month (e.g. June version 2), they cannot submit any further versions for May Bordereaux Versioning Participants can submit multiple versions of the underwriting Bordereau within the same month by using the Version field in the Bordereau to indicate the version being uploaded. Any subsequent Bordereau, in the reporting month, will need to have their version number incremented to a higher version than the one used previously up to a limit of 99 in any one month. nce accepted that version Document Name: Bordereaux Completion Guide V2 Page: 17 of 71

18 number will be confirmed. If a Bordereau is rejected then the version number has not been registered and so the same version number can and should be re-used on the next submission. If 10 Bordereau items were submitted as v1and 3 have been rejected, then the Participant opts to submit the 7 valid items and they are accepted by Flood Re as v1. The remaining 3 items are resubmitted as v2 once they have been corrected. 7.5 CSV and JSN Column Headers When submitting Bordereau to Flood Re, users have the option of either submitting a.csv or a.jsn file via the Web Portal or via System-to-System. To view the.csv in Excel the Column headers referred to contain the column names i.e. DATE and MNTH listed along the first line of the file as per image below..jsn and.csv files both have Column/Field Name headers but are submitted differently. The.CSV file is more versatile than.jsn because it can be submitted via the Web Portal with or without the first row column headers in the file. If the.csv file is submitted without the header row, the columns must be ordered exactly as laid out in the Headers UWriting.csv and Header Claims.csv file attached below. The.JSN file definition can be found in the Technical Specification. Headers UWriting.csv Headers Claims.csv If the Bordereau is submitted using column headers, then the Participant must use the exact column header spellings as contained in the Headers UWriting.csv and Header Claims.csv files above and MUST use BLCK CAPITALS. Document Name: Bordereaux Completion Guide V2 Page: 18 of 71

19 7.6 Bordereaux header data Bordereaux headers are a sub-section of Column headers mentioned above and work the same way in both the Underwriting and Claims Bordereau. Column Headers are split into two categories; The Bordereau header (a summary of transactions) and; The Risk detail header (list of transaction occurring within the period) The purpose of the Bordereaux header data is to summarise all Bordereau items in the Bordereau file and are identified by being highlighted in BLUE in the (Underwriting Fields description) table below. As the diagram above illustrates there is a typical one-to-many relationship between these two categories of data. Normally when reporting Bordereau the Bordereau header and the Risk detail are two separate documents; one is a summary and the other listing the detail. Due to Flood Re s automated process, we have combined these into one file and simply repeated the header values for each Risk ceded. The Bordereau header is made up of the first 10 fields in the Bordereau and every row of data should have repeated values in these 10 fields (see data sample file below) and Bordereau header values highlighted in Yellow below. Headers UWriting with Sample.csv Headers Claims with Sample.csv Document Name: Bordereaux Completion Guide V2 Page: 19 of 71

20 The items highlighted in BLUE below are a sample of the Risk detail section that captures the specific details of the risk. Document Name: Bordereaux Completion Guide V2 Page: 20 of 71

21 8 UNDERWRITING BRDEREAU HIGH LEVEL GUIDANCE This section provides field descriptions and gives guidance on the rules around how to produce the Underwriting Bordereau. Specific detail about data types, field lengths etc. are contained in the underwriting specification spreadsheet in the Underwriting Bordereau v3 document. 8.1 Material Transactions The underwriting Bordereau file used by Participants to cede risks by recording and submitting all material transactions to Flood Re. Flood Re have defined a material transaction as; Information which impacts or constitutes a change to any or all of the fields contained in the Bordereaux. All data contained in a Bordereau should be for previously unreported transactions occurring up to and including the current month. 8.2 Required Action and Reference data There are mandatory, optional and conditional fields in the Bordereau. The conditional fields may become mandatory depending on the type of submission being ceded. Required Action Mandatory (M) ptional () Conditional (C) Action description A required field which cannot be left blank A field that should be populated if the information is available otherwise it should be left blank. A field that becomes mandatory only if other fields are filled in. The list of these conditional fields and what makes them mandatory will be provided in a subsequent table in 10.1 in this document Reference Data For many fields in the Bordereau, only specific table values can be used. Reference data tables can be found in the Underwriting Bordereau document. If cases where Participants are unable to map their data to Flood Re s Bordereau reference data items then a Not Defined / Unknown option is available. 8.3 Policy Periods All policies ceded to Flood Re must have a 12 month policy duration. If a Participant writes business for periods shorter than this, the policy should be ceded for the full 12 months and then a Cancellation should be submitted by the Participant once the policy expires. Document Name: Bordereaux Completion Guide V2 Page: 21 of 71

22 8.4 Best Practice for providing address fields To maximise the success of submissions, the property addresses submitted in the Bordereau should match those held on the Property Data Hub. To avoid address matching issues, best practise is for the Participant to supply a valid FRid on the Bordereaux. Using the FRid will guarantee an address match and avoid any address rejections. If the Participant cannot supply the FRid then the Mandatory data should be supplied as accurately as possible, the Mandatory fields are: House No or House name Address Line 1 Post Code These fields are required as the minimum to base the address search on if the FRid is not supplied. That way the chance of address matching is improved. Document Name: Bordereaux Completion Guide V2 Page: 22 of 71

23 9 UNDERWRITING FIELDS DESCRIPTINS This section gives guidance on populating the underwriting Bordereau and should be read in conjunction with Underwriting Bordereau document. As mentioned in Bordereaux header data the Bordereau is split into three categories; The Bordereau header (a summary of transactions); The ceded Risk detail (list of transaction occurring within the period) The field header The colour codes used to denote these values are highlighted in the key below. Bordereau Header Ceded Risk Detail Narrative Narrative Participants may notice that the Field Names differ slightly from the.csv column header names, therefore the Underwriting Bordereau lists field names and all corresponding Column header names along with various kinds of technical details such as data types, field formats, pick lists etc. How to populate each field on the underwriting Bordereau is described below. Field Name Description Required Actions Bordereau header: Bordereau Date The Bordereau submission date M Notes Bordereau header: Bordereau Month The Month the data in the Underwriting Bordereau relates to. The value is case sensitive and can only contain one of M All data contained in a Bordereau should be for transactions occurring up to and including the current month under that month name. When re-submitting Document Name: Bordereaux Completion Guide V2 Page: 23 of 71

24 Field Name Description Required Actions the following: January, February, March, April, May, June, July, August, September, ctober, November, December Notes rejected items from previous months, the current month should still be used. Bordereau header: Bordereau Version Bordereau header: Bordereau Type Participants can submit multiple versions of the underwriting Bordereau within the same month by using the Version field in the Bordereau to indicate the version being uploaded. Any subsequent Bordereau, in the reporting month, will need to have their version number incremented. nce accepted that version number will be confirmed. M The version number should always be 2 numeric characters between 01 and up to 99. States whether the Bordereau is Underwriting or Claims M Underwriting and Claims Bordereau must be submitted separately Value must always equal 1 for underwriting and 2 for claims Bordereau header: Bordereau Line Count Bordereau header: Bordereau Total Payment Bordereau header: FR Insurers ID Bordereau header: Insurers Name Bordereau header: Insurer FCA Number The total number of transactions to be ceded (excluding Bordereau header record) listed in the Bordereau for a month and version. The sum of all 'Total Payable' (detailed below) listed in the Bordereau and ceded to Flood Re for this month and version. The identifier (ID) supplied to the Participant responsible for submitting the Bordereau to Flood Re during the on boarding phase. This must be the name of the Participant. If it is a Lloyd s member it should specify the Syndicate and Managing Agent. M M M M This number will be supplied to the Participant during the on-boarding process This field is limited to 30 characters The Insurer's FCA Number M r equivalent for passporting Insurer. Document Name: Bordereaux Completion Guide V2 Page: 24 of 71

25 Field Name Description Required Actions Bordereau header: Flood Re Treaty Reference Number The Reinsurance Treaty Reference provided by Flood Recovering the ceding period Notes Enter Flood Re Reinsurance Treaty 2015 V1 (this is subject to change in the future) Field Header: Insurer Brand An optional field that can be used by an insurer to further identify the source of the ceded policy Field Header: Insurer Policy Reference This will be the insurers own unique policy reference. M When an insurer has multiple risks (i.e. a 2 nd or holiday home in addition to their primary property) on a single household policy then each risk must be ceded to Flood Re separately with its own unique policy reference Type of Policy Transaction Ceded To Flood Re The type of transaction undertaken by the Insurer. M MTA Reason If Type of Policy Transaction Ceded To Flood Re = MTA we require an MTA reason C Condition: When MTA is selected from Type of Policy Transaction Ceded to Flood Re then an item from the list of MTA Reasons must be selected. The list of MTA reason codes are specified in Appendix B Underwriting Reference data If MTA reason codes are unavailable then use the Not Defined option. Please refer to Underwriting Scenarios section for different MTA scenarios Cancellation Reason Code Reason that the Participant cancelled the policy and where applicable may give an indication that a return premium is due or not C Condition: When CAN is selected from Type of Policy Transaction Ceded to Flood Re then an item from the list of Cancellation Reason Codes must be selected The list of CAN reason codes are specified in Appendix B Underwriting Reference data. Document Name: Bordereaux Completion Guide V2 Page: 25 of 71

26 Field Name Description Required Actions Notes If the CAN reason codes are unavailable then use Not Defined. Please refer to Underwriting Scenarios section for different CAN scenarios Reinstatement Reason Code If the type of policy transaction notified is reinstatement, we require a reason why the policy was previously cancelled C Condition: When RIN is selected from Type of Policy Transaction Ceded to Flood Re then an item from the list of Reinstatement Reason Codes must be selected The list of RIN reason codes are specified in Appendix B Underwriting Reference data. If the RIN reason codes are unavailable then use Not Defined. Please refer to Underwriting Scenarios section 8.5 for different RIN scenarios. Date Cover Commences This date will contain the Policy Term Effective Start Date. If the risk is submitted to Flood Re 121 days or more past the Policy Transaction Effective Start Date then use the date submitted to Flood Re. M Policy Term Effective Start Date The term start date for the underlying home insurance policy. M Policy Term Effective End Date The term end date of the underlying home Insurance policy M Policy Transaction Effective Start Date The start date for the transaction identified on the Bordereau. M If the transaction is an MTA then this will be the effective date of the MTA Policy Transaction Sequence Number A sequence number that is incremental during the life of the policy. This will be helpful when submitting an error file back to ensure the latest policy transaction sequence is applied in case error file is processed outside of the main monthly file. Earliest historical record should be set to 001. A rising number is required but this does not have to be sequential as Participants may have an MTA that is not ceded to Flood Re; as only material changes are of interest. M Where multiple transactions for one risk are submitted within a file, we expect those transactions to be reported in the correct order. The transaction sequence number must be sequential within the file. Document Name: Bordereaux Completion Guide V2 Page: 26 of 71

27 Field Name Description Required Actions FRid (Flood Re ID) Number f Units Unit 1. House Number Unit 1. House Name Unit 1. If Flat Provide Floor/Level The Flood Re unique identifier of "FRid" has been created by Flood Re for all of the 30 million UK residential properties and is stored on the online and offline version of the Property Data Hub. This unique field is a UUID, UUID is represented by 32 lowercase hexadecimal digits, displayed in five groups separated by hyphens, in the form for a total of 36 characters (32 alphanumeric characters and four hyphens). Default is 1. When a number of leasehold flats (in a single location i.e. block) are covered on one policy (max 3) then this field should be updated and the repeating address fields below completed. Unit 1 must always be the address of the freeholder. Insured 'House Number', this field is optional but at least one of either 'House number' or 'House Name' must be filled in. Insured House Name, this field is optional but at least one of either 'House number' or 'House name' must be filled in. M C C Notes It is highly recommended that Participants populate this field as this guarantees address matching. Should the property address change due to an MTA with a reason code of MNA (move to new address) then the FRid for the new property should be provided. The block should have a maximum of 3 units. For avoidance of doubt premium is calculated solely on the freeholder address. Condition: This field becomes Mandatory if House Name is not provided. At least House Number or House Name must be filled in Condition: This field becomes Mandatory if House Number is not filled in. At least House Number or House Name must be provided Floor level if property is a flat, valid values from -1 to 99. This rule assumes that most locations will be from ground level upwards. Unit 1. Address Line 1 Address line 1 - This is the first line of the address M Unit 1. Address Line 2 Address line 2 Unit 1. Address Line 3 Address line 3 Unit 1. Post Code Post Code M Document Name: Bordereaux Completion Guide V2 Page: 27 of 71

28 Field Name Description Required Actions Unit 1. Eligibility Category Unit 2. Address Unit 3. Address Eligibility Derivation Eligibility Period Indicator Council / Property tax band. If 'Property Use' = M (multiple) then the 'Property tax band' is that of the freeholder. Note that for Northern Ireland the value in this field must be between 1-8. England and Scotland A - H. Wales A - I. The address is for a unit or flat located within a block and therefore should contain the same address as Unit 1 with a changed House number or House Name. The address is for a unit or flat located within a block and therefore should contain the same address as Unit 1 with a changed House number or House Name. To denote if the tax band was obtained from the FR Property Tax Table or other source If the property is built pre 2009 the field value is Y, if not the value is N M C C M Notes The fields for Unit 2 should only be populated if a location for Unit 1 is entered. The fields for Unit 3 should only be populated if locations for Unit 1 and Unit 2 are entered. Property Type House, Flat etc. the type of building that is to be insured M As per reference data in Appendix B M Property Use Describes the use of residential property. If this is a secondary or holiday home this needs to be a separate policy. M When an insurer has multiple risks (i.e. a 2 nd or holiday home in addition to their primary property) on a single household policy then each risk must be ceded to Flood Re with its own unique policy reference. As per reference data in Appendix B Number of Storeys in the Property This field will capture the number of storeys in the property. It applies to all property types, excluding basement. If storeys not known 0 may be entered or left blank. Resilience Work Has any work been taken out on the property to protect against flooding, if unknown (U) may be entered or left blank Document Name: Bordereaux Completion Guide V2 Page: 28 of 71

29 Field Name Description Required Actions Basement If Basement Confirm Usage If Basement Confirm Level f Flood Protection Number of Bedrooms This field will capture whether the property has a basement. If the property has a basement, this field will capture its usage The number of bedrooms within the property insured. Where there are multiple units, this will reflect the total number of bedrooms in all units Used to validate / audit Participant sum insured limits. C Notes As per reference data in Appendix B Please default to U if unknown If the Participant wishes to indicate unknown for this field then a Zero 0 should be used. A zero can also be used to indicate a Studio Flat. Wall Construction What materials are used in the 'Wall Construction? M As per reference data in Appendix B Roof Construction What materials are used in the 'Roof Construction? M As per reference data in Appendix B Buildings Coverage Type Building Policy Sum Blanket Limit Building Specific Sum Insured Cover is included for Buildings. If the risk covers Buildings, then the value in this field is 'BLD'. If the risk ceded pertains to buildings then the field Building Coverage type is not optional and must contain the value BLD if it does not and any of the below Building fields are filled in, this line will be rejected with an error. Blanket limit set by the Participant. C If the Building Coverage Type value is equal to BLD, then at least one of the following three data items must contain a value > 0: Declared by Policyholder Rebuilding Cost This value is a true representation of the risk C C -Building Policy Sum Blanket Limit -Building Specific Sum Insured -Rebuilding Cost If the Participant is unable to supply data for the remaining fields above a default value of zero "0" must be entered. Data may be contained in more than 1 of these fields. Zero amounts must also be entered where no other values exist. Document Name: Bordereaux Completion Guide V2 Page: 29 of 71

30 Field Name Description Required Actions Rebuilding Basis Indicator How was the 'Rebuilding Cost' derived C Condition: Required if Rebuilding Cost is populated. As per reference data in Appendix B Notes Building Transaction Rating Date The date on which the rating of Building cover is based. This will determine which version of 'Flood Re Property Tax ' table is used. C Condition: If Buildings Coverage Type is equal to BLD then this field becomes Mandatory Buildings Excess Amount Insurer Buildings Excess amount C Numeric only. Please do not supply currency symbols or comma separation. A value of zero 0 is permissible. Condition: If Buildings Coverage Type is equal to BLD then this field becomes Mandatory In case of a combined policy excess split excess equally between buildings and contents. Buildings New Annual Flood Re annual Buildings cover premium linked to tax band C Numeric only. Please do not supply currency symbols or comma separation. For NBS and REN transactions this should match both the premium in the Lookup Table and that on the Bordereau in Buildings Transaction. Condition: If Buildings Coverage Type is equal to BLD then this field becomes Mandatory. Buildings Transaction This field contains the amount payable (riginal, Additional or Return premium - positive or negative) for that transaction purely related to Buildings cover. C Numeric only. Please do not supply currency symbols or comma separation. For NBS and REN transactions this should match both the premium in the Lookup Table and that on the Bordereau in Buildings New Annual. Document Name: Bordereaux Completion Guide V2 Page: 30 of 71

31 Field Name Description Required Actions Notes Condition: If Buildings Coverage Type is equal to BLD then this field becomes Mandatory Building Alternative Accommodation Limit This is the limit amount of alternative accommodation costs as a monetary value. If this value is unlimited or a percentage of Sum Insured then the insurer must translate to a monetary value. C Numeric only - please do not supply currency symbols or comma separation. A value of zero "0" is permissible. Condition: If Buildings Coverage Type is equal to BLD then this field becomes Mandatory If an insurer offers unlimited cover put in Contents Coverage Type States that cover is included for Contents. If the risk covers Contents, then the value in this field is 'CNT'. If the risk ceded has more than 1 unit then Contents cover cannot be provided and this field should be left blank. High Value Fine Art Items Insured on riginal Policy High Value Fine Art items are defined here as a single fine art item worth or valued at more than 25,000 If high value art items are insured use Y, otherwise use N Contents Blanket Sum Insured Contents Actual Sum Insured Contents Transaction Rating Date Blanket limit set by the Insurer C Condition: If the Contents coverage type value is equal to CNT, then This value of the contents covered, declared by the policyholder The date on which the rating of Contents cover is based. This will determine which version of 'Flood Re Property Tax ' table is used. C C at least one of the following two data items must be contain a value > 0: - Contents blanket sum insured - Contents actual sum insured If the Insurer is unable to supply data for the remaining item above a default value of zero "0" may be entered. Condition: If Contents Coverage Type is equal to CNT then this field becomes Mandatory Document Name: Bordereaux Completion Guide V2 Page: 31 of 71

32 Field Name Description Required Actions Contents Excess Amount Insurer Contents Excess amount C Numeric only - please do not supply currency symbols or comma separation. A value of zero "0" is permissible. Notes Condition: If Contents Coverage Type is equal to CNT then this field becomes Mandatory In case of a combined policy excess split excess equally between buildings and contents. Contents New Annual Flood Re annual Contents cover premium linked to tax band C Condition: If Contents Coverage Type is equal to CNT then this field becomes Mandatory Contents Transaction This field contains the amount payable (riginal, Additional or Return premium - positive or negative) for that transaction purely related to Contents cover. C For NBS and REN transactions this should match both the premium in the Lookup Table and that on the Bordereau in Contents New Annual. Condition: If Contents Coverage Type is equal to CNT then this field becomes Mandatory Contents Alternative Accommodation Limit This is the limit amount of alternative accommodation costs as a monetary value. If the value is unlimited or a percentage of Sum Insured then the Participant must translate to a monetary value. C Numeric only - please do not supply currency symbols or comma separation. A value of zero "0" is permissible. Condition: If Contents Coverage Type is equal to CNT then this field becomes Mandatory If an insurer offers unlimited cover put in Document Name: Bordereaux Completion Guide V2 Page: 32 of 71

33 9.1 Rating risks and change of annual rates Each year Flood Re will issue a new rating table with rates for Building, Contents and Combined risks for England and Scotland, Wales and Northern Ireland (see below). These rates will be published each April and will attach to risks written in the respective year. Therefore, if a risk is ceded in January 2016 then the rates for 2015 (1 st April st March 2016) will apply. If the risk ceded in January 2016 was Buildings only, then in May 2016 (after the rate change) Contents is added, then the contents section should be rated using the current 2016 rating table. All additional transactions made to the Contents section will use the 2016 rates. Table 1 Household Premises in England and Scotland Valuation Band Combined Policy Buildings policy Contents policy A B C D E F G H Table 2 Household Premises in Wales Valuation Band Combined Policy Buildings policy Contents policy A B C D E F G H I Document Name: Bordereaux Completion Guide V2 Page: 33 of 71

34 Table 3 Household Premises in Northern Ireland Flood Re category Combined Policy Buildings policy Contents policy For the purposes of Table 3 above, the Flood Re categories are defined as follows: Values of Properties at 1st January 2005 Flood Re Category Values not exceeding 72,500 1 Values exceeding 72,500 but not exceeding 92,500 2 Values exceeding 92,500 but not exceeding 125,000 3 Values exceeding 125,000 but not exceeding 160,000 4 Values exceeding 160,000 but not exceeding 205,000 5 Values exceeding 205,000 but not exceeding 260,000 6 Values exceeding 260,000 but not exceeding 450,000 7 Values exceeding 450, Restating Cover for transactions When submitting additional transactions for an existing policy, the riginal (premium first charged for section) must be restating in the Buildings New Annual and/or Contents New Annual section(s). Unless either; The additional transaction relates to a change of address which holds a different eligibility category The additional transaction occurs subsequent to an increase in premium rates and the transaction requires reference to the premium table. If there is no additional or return premium applicable to the section, the Buildings Transactional and/or Contents Transactional should contain a zero. Document Name: Bordereaux Completion Guide V2 Page: 34 of 71