bordereaux completion guide version 3 - flood re · about how to cede particular risks and report...

Bordereaux Completion Guide

Version 3

Flood Re

Document Name: Bordereaux Completion Guide V3 Commercial in confidence Page: 2 of 72

1 TABLE OF CONTENTS

1 Table of Contents ........................................................................................................................ 2

2 Purpose/Objectives of this Document ...................................................................................... 5

3 Intended Audience ...................................................................................................................... 6

4 Top Tips for Bordereaux Completion ....................................................................................... 7

4.1 CSV Formatting ............................................................................................................................ 7

4.2 12 month policy duration ............................................................................................................... 7

4.3 Policy status .................................................................................................................................. 7

4.4 Multiple monthly underwriting Bordereaux submissions............................................................... 7

4.5 Single monthly claims Bordereaux submission ............................................................................ 7

4.6 Underwriting risks validated and accepted by Flood Re before claims can be submitted. .......... 8

4.7 Insurer policies with multiple properties (such as Holiday / 2nd homes) ...................................... 8

4.8 Policy Excess ................................................................................................................................ 8

4.9 120 day rule .................................................................................................................................. 8

4.10 ‘Insurer Name’ Bordereau field ..................................................................................................... 8

4.11 Multiple units (up to a maximum of 3) ........................................................................................... 8

4.12 MTA premium calculation ............................................................................................................. 8

4.13 Restating policy details at MTA .................................................................................................... 9

4.14 CSV Headers ................................................................................................................................ 9

4.15 Ceding Mid Term .......................................................................................................................... 9

4.16 Policy Transaction Sequence Number ......................................................................................... 9

4.17 Zeros and Blanks ........................................................................................................................ 10

4.18 Recommendation for Resubmission of Errors ............................................................................ 10

4.19 Excess Applicable to Indemnity Payments Only ........................................................................ 10

4.20 Claims Movement Number ......................................................................................................... 10

4.21 Ex Gratia/FOS Payments ........................................................................................................... 10

4.22 Accounting for Recoveries .......................................................................................................... 11

4.23 Event Catastrophe Code ............................................................................................................ 11

4.24 Interim Payments ........................................................................................................................ 11

4.25 Fees Payable on Rejected Claims .............................................................................................. 11

4.26 Multiple Movements within a Single MTA Transaction ............................................................... 11

4.27 Web Portal .................................................................................................................................. 11

4.28 Unlimited Sum Insureds

5 Flood Re Bordereaux Process Overview ............................................................................... 13

5.1 Underwriting Bordereau (Diagram 1) .......................................................................................... 13


5.2 Claims Bordereau ....................................................................................................................... 14

6 Flood Re - Monthly Submission Process ............................................................................... 16

7 Bordereau Preparation for Monthly Submission Process.................................................... 17

7.1 Preparing Underwriting and Claims Bordereaux ........................................................................ 17

7.2 Bordereaux Submission Timing .................................................................................................. 17

7.3 Claims Bordereau Submission Sequence .................................................................................. 17

7.4 Bordereaux Versioning ............................................................................................................... 17

7.5 CSV and JSON Column Headers ............................................................................................... 18

7.6 Bordereaux header data ............................................................................................................. 19

8 Underwriting Bordereau – High Level Guidance ................................................................... 21

8.1 Material Transactions.................................................................................................................. 21

8.2 Required Action and Reference data .......................................................................................... 21

8.3 Policy Periods ............................................................................................................................. 21

8.4 Best Practice for providing address fields................................................................................... 22

9 Underwriting Fields Descriptions ........................................................................................... 23

9.1 Rating risks and change of annual rates .................................................................................... 33

9.2 Restating Cover for transactions ................................................................................................ 34

10 How to record Underwriting Transactions ............................................................................. 35

10.1 New Business (NBS) .................................................................................................................. 36

10.2 Mid-Term Adjustments (MTAs) that materially affect the policy premium: ................................. 37

10.3 Adding/Deleting Sections (MAD) ................................................................................................ 38

10.4 Move to New Address (MNA) ..................................................................................................... 39

10.5 Mid-Term Adjustments that DO NOT materially affect the policy premium ................................ 41

10.6 Mid-Term Adjustments to cede a policy mid-term ...................................................................... 42

10.7 Renewal Transaction (REN) ....................................................................................................... 43

10.8 Void from Inception (VFI) ............................................................................................................ 43

10.9 Cancellations (CAN) ................................................................................................................... 44

10.10 Reinstatements (RIN) ................................................................................................................. 45

11 Useful Underwriting Information ............................................................................................. 46

11.1 Calculation of Pro-Rata Premiums ............................................................................................. 46

11.2 Example 1: Mid Term Adjustment – Change in Eligibility Category .......................................... 47

11.3 Example 2: Mid Term Adjustment – Change in Eligibility Category for a previously un-ceded policy ........................................................................................................................................... 48

11.4 Example 3: Mid Term Adjustment – Change in Eligibility Category followed by removal of Contents Cover ........................................................................................................................... 49


11.5 Example 4: Mid Term Adjustments – Change in Eligibility Category followed by removal of Contents Cover, and then Cancellation ...................................................................................... 50

12 How to record Claims Transactions ....................................................................................... 52

12.1 Claims Restatement Completion ................................................................................................ 52

12.2 Claims Bordereau field descriptions ........................................................................................... 53

12.3 Claims Bordereau Fields............................................................................................................. 63

12.4 Useful Claims Information ........................................................................................................... 66

13 Underwriting and Claims Scenarios ....................................................................................... 67

13.1 Underwriting Scenarios ............................................................................................................... 67

13.2 Claims Scenarios ........................................................................................................................ 68

14 Appendix B – Underwriting Reference Data .......................................................................... 69

15 Appendix C – Claims Reference Data ..................................................................................... 71

16 Contact Support ........................................................................................................................ 72


2 PURPOSE/OBJECTIVES OF THIS DOCUMENT

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 non-

technical 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 (v5)

Technical Specification (v5)

Web Portal & Connectivity guide (v2.0)

Underwriting Bordereaux (v5)

Claims Bordereaux (v5)


3 INTENDED AUDIENCE

This document is intended for the industry ‘Participant(s)’ who will submit Bordereau to Flood

Re.


4 TOP TIPS FOR BORDEREAUX COMPLETION

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 2001-01-20 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.

4.2 12 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

Bordereau 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.


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’.

4.9 120 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.

4.10 ‘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.

4.11 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.

4.12 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


should be referenced and when recalculating new cover the current premium table should be

referenced.

4.13 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.

4.14 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.

4.15 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.

4.16 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


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.

4.17 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.

4.18 Recommendation for Resubmission of Errors

Entire Bordereaux 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.

4.19 Excess Applicable to Indemnity Payments Only

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).

4.20 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.

4.21 Ex Gratia/FOS 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 FOS 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

FOS 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 FOS award relating to poor


service.

iv) Flood Re will reimburse a FOS fee regardless of the final outcome. This is in order that a

challenge is not deterred.

4.22 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.

4.23 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.

4.24 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.

4.25 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.

4.26 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 line must include at least the

change associated with the MTA code selected. For example, if MAA is selected then the line

must at least contain a change to the Alternative Accommodation limits otherwise the line will

be rejected.

4.27 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)

Firefox (version 40 or later)


4.28 Unlimited Sum Insureds

If the Sum Insured for Buildings, Contents or Alternative Accommodation are unlimited,

Participants are required to enter a value of 0.01 in to the respective fields within the

bordereau.


5 FLOOD RE BORDEREAUX PROCESS OVERVIEW

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.

Make Payment Confirm correct or Request amendment

Validate Bordereau Submit to Flood Re

Prepare Underwriting Bordereau

- Add new risks to Bordereau

- Provide correct address and FRid for all risks

- Notify MTAs, Cancellations and Renewals

- Specify Transactional Premium

- Validation performed on format/schema

- Data in address matched

- Validation performed on business rules

- Validation performed on Premium 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

- Create .CSV or .JSON format for insurers

- Provide appropriate file naming convention

- Submit to Flood Re for validation

- Once bordereau has been accepted, a single transaction will be created for each bordereau and payment requested

Document Name: Bordereaux Completion Guide V3 Commercial in confidence

Page: 14 of 72

5.2 Claims Bordereau

This process is designed to mimic the underwriting Bordereau submission as familiarity within the system helps support Participants.

Make Payment Confirm correct or Request amendment

Validate Bordereau Submit to Flood Re

Prepare Claim Bordereaux

- Add new claims to Bordereau

- 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

- 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

- Create .CSV or .JSON format for insurers

- Provide appropriate file naming convention

- Submit to Flood Re for validation

- Once bordereau has been accepted, a single transaction will be created for each bordereau and payment requested


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.

The End-to-End process is straightforward and consists of a few basic steps:

Steps Description

1 The Participant will create monthly Bordereaux

2 The Bordereaux will be submitted to Flood Re electronically via Web Portal or ‘System-to-System’

3

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 re-submitting the Bordereau

4 Once the Bordereau has been validated the Participant will receive appropriate confirmation

5 Flood Re request premium and/or settle claim reimbursement (or refund if appropriate)

1. Prepare Bordereaux

2. Submit Bordereaux to

Flood Re

3. Flood Re Validate

4. Flood Re Confirm

acceptance

5. Premium and/or Claim

payments


6 FLOOD RE - MONTHLY SUBMISSION PROCESS

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 Description

A The process begins with the production of underwriting risks being ceded via the underwriting Bordereau.

B The Participant will create either a .CSV or .JSON file, which can be uploaded via the Flood Re Web Portal.

C There is also an option to submit Bordereaux ‘System-to-system’ process as described in the Technical specification.

D Following Bordereau submission, the file will undergo technical and business rules validation.

D1 Validation failures will generate feedback of error messages back to the Participant and also to the Flood Re Service Desk.

E Participant will receive appropriate confirmation of successful Bordereaux validation and acceptance.


7 BORDEREAU PREPARATION FOR MONTHLY SUBMISSION PROCESS

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 .JSON 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 transactions 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 2015. Once 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 2015 - version 2), they cannot submit any

further versions for May 2015.

7.4 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. Once accepted that version


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 rows were submitted as V1 but 3 were rejected and the Participant opts to submit the

7 valid items, they are accepted by Flood Re as V1. The remaining 3 rows are resubmitted as V2

once they have been corrected.

7.5 CSV and JSON Column Headers

When submitting Bordereau to Flood Re, users have the option of either submitting a .CSV or a

.JSON 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

‘MONTH’ listed along the first line of the file as per image below.

.JSON and .CSV files both have Column/Field Name headers but are submitted differently. The .CSV

file is more versatile than .JSON 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 .JSON 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 BLOCK CAPITALS.


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


The items highlighted in BLUE below are a sample of the ‘Risk detail’ section that captures the

specific details of the risk.


8 UNDERWRITING BORDEREAU – 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 v5’ 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

Bordereau”.

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 Action description

Mandatory (M) A required field which cannot be left blank

Optional (O) A field that should be populated if the information is available otherwise it should be left blank.

Conditional (C) 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.


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.


9 UNDERWRITING FIELDS DESCRIPTIONS

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 Narrative

Ceded Risk Detail 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

Notes

Bordereau header: Bordereau Date

The Bordereau submission date M

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 the following: January, February, March, April, May, June,

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



Notes

July, August, September, October, November, December rejected items from previous months, the current month should still be used.

Bordereau header: Bordereau Version

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. Once accepted that version number will be confirmed.

M The version number should always be 2 numeric characters between 01 and up to 99.

Bordereau header: Bordereau Type

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

The total number of transactions to be ceded (excluding Bordereau header record) listed in the Bordereau for a month and version.

M

Bordereau header: Bordereau Total Premium Payment

The sum of all 'Total Premium Payable' (detailed below) listed in the Bordereau and ceded to Flood Re for this month and version.

M

Bordereau header: FR Insurers ID

The identifier (ID) supplied to the Participant responsible for submitting the Bordereau to Flood Re during the on boarding phase.

M This number will be supplied to the Participant during the on-boarding process

Bordereau header: Insurers Name

This must be the name of the Participant. If it is a Lloyd’s member it should specify the Syndicate and Managing Agent.

M This field is limited to 30 characters

Bordereau header: Insurer FCA Number

The Insurer's FCA Number M Or equivalent for passporting Insurer.



Notes

Bordereau header: Flood Re Treaty Reference Number

The Reinsurance Treaty Reference provided by Flood Recovering the ceding period

O 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

O

Field Header:

Insurer Policy Reference

This will be the insurers own unique policy reference. M When an insurer has multiple risks (i.e. a 2nd

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.

If the ‘CAN’ reason codes are unavailable then use ‘Not Defined’. Please refer to Underwriting Scenarios section



Notes

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.

FRid (Flood Re ID) The Flood Re unique identifier of "FRid" has been created O It is highly recommended that Participants populate this



Notes

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 8-4-4-4-12 for a total of 36 characters (32 alphanumeric characters and four hyphens).

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.

Number Of Units 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.

M The block should have a maximum of 3 units. For avoidance of doubt premium is calculated solely on the freeholder address.

Unit 1. House Number Insured 'House Number', this field is optional but at least one of either 'House number' or 'House Name' must be filled in.

C Condition: This field becomes Mandatory if ‘House Name’ is not provided. At least ‘House Number’ or ‘House Name’ must be filled in

Unit 1. House Name Insured House Name, this field is optional but at least one of either 'House number' or 'House name' must be filled in.

C Condition: This field becomes Mandatory if ‘House Number’ is not filled in. At least ‘House Number’ or ‘House Name’ must be provided

Unit 1. If Flat Provide Floor/Level

Floor level if property is a flat, valid values from -1 to 99. O 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 O

Unit 1. Address Line 3 Address line 3 O

Unit 1. Post Code Post Code M

Unit 1. Eligibility Category

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

M



Notes

between 1-8. England and Scotland A - H. Wales A - I.

Unit 2. Address 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’.

C The fields for Unit 2 should only be populated if a location for Unit 1 is entered.

Unit 3. Address 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’.

C The fields for Unit 3 should only be populated if locations for Unit 1 and Unit 2 are entered.

Eligibility Derivation To denote if the tax band was obtained from the FR Property Tax Table or other source

M

Eligibility Period Indicator

If the property is built pre 2009 the field value is Y, if not the value is N

M

Property Type House, Flat etc. the type of building that is to be insured M As per reference data in Appendix B

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 2nd

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.

O

Resilience Work Has any work been taken out on the property to protect against flooding, if unknown (U) may be entered or left blank

O

Basement This field will capture whether the property has a basement. O

If Basement Confirm Usage

If the property has a basement, this field will capture its usage

C As per reference data in Appendix B



Notes

If Basement Confirm Level Of Flood Protection

O Please default to ‘U’ if unknown

Number of Bedrooms 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.

O 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

Cover is included for Buildings. If the risk covers Buildings, then the value in this field is 'BLD'.

O 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.

Building Policy Sum Blanket Limit

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:

-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.

If cover is unlimited, 0.01 should be entered.

Building Specific Sum Insured

Declared by Policyholder C

Rebuilding Cost This value is a true representation of the risk C

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 Premium' 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 Premium

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 Premium Lookup Table and that on the Bordereau in ‘Buildings Transaction Premium’.

Condition: If ‘Buildings Coverage Type’ is equal to ‘BLD’ then this field becomes Mandatory.

Buildings Transaction Premium

This field contains the amount payable (Original, 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 Premium Lookup Table and that on the Bordereau in Buildings New Annual Premium.

Condition: If ‘Buildings Coverage Type’ is equal to ‘BLD’ then this field becomes Mandatory



Notes

Building Alternative Accommodation Limit

This is the limit amount of alternative accommodation costs as a monetary value. If this value is 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


Contents Coverage Type

States that cover is included for Contents. If the risk covers Contents, then the value in this field is 'CNT'.

O

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 Original Policy

High Value Fine Art items are defined here as a single fine art item worth or valued at more than £25,000

O If high value art items are insured use Y, otherwise use N

Contents Blanket Sum Insured

Blanket limit set by the Insurer C Condition: If the Contents coverage type value is equal to ‘CNT’, then 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.


Contents Actual Sum Insured

This value of the contents covered, declared by the policyholder

C

Contents Transaction Rating Date

The date on which the rating of Contents cover is based. This will determine which version of 'Flood Re Property Tax Premium' table is used.

C Condition: If ‘Contents Coverage Type’ is equal to ‘CNT’ then this field becomes Mandatory

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 Premium

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 Premium

This field contains the amount payable (Original, 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 Premium Lookup Table and that on the Bordereau in Contents New Annual Premium. 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 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



9.1 Rating risks and change of annual rates

Each year Flood Re will issue a new Premium 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 (1st April 2015 – 31

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 £210 £132 £78

B £210 £132 £78

C £246 £148 £98

D £276 £168 £108

E £330 £199 £131

F £408 £260 £148

G £540 £334 £206

H £1200 £800 £400

Table 2

Household Premises in Wales

Valuation Band Combined Policy Buildings policy Contents policy

A £210 £132 £78

B £210 £132 £78

C £210 £132 £78

D £246 £148 £98

E £276 £168 £108

F £330 £199 £131

G £408 £260 £148

H £540 £334 £206

I £1200 £800 £400


Table 3

Household Premises in Northern Ireland

Flood Re category Combined Policy Buildings policy Contents policy

1 £210 £132 £78

2 £210 £132 £78

3 £246 £148 £98

4 £276 £168 £108

5 £330 £199 £131

6 £408 £260 £148

7 £540 £334 £206

8 £1200 £800 £400

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


3


4

Values exceeding £160,000 but not exceeding £205,000 5



Values exceeding £450,000 8

9.2 Restating Cover for transactions

When submitting additional transactions for an existing policy, the ‘Original Premium’ (premium

first charged for section) must be restating in the ‘Buildings New Annual Premium’ and/or

‘Contents New Annual Premium’ 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

Premium’ and/or ‘Contents Transactional Premium’ should contain a zero.


10 HOW TO RECORD UNDERWRITING TRANSACTIONS

This section sets out the rules for recording the transactions that should appear on an

underwriting Bordereau. Please refer to the Flood Re Technical Specification; Property Data

Hub & Bordereau and Additional Services for a more technical specification.

For each of the transaction types, key fields will be highlighted in the following sections for each

scenario. The full Bordereau is not explained each time but scenario examples are provided in

the Appendix A – Bordereau Scenarios, which can be used as an additional guide.

Please note that the sections below will not list all fields that are required for each transaction

as this information can be determined from the Bordereau Fields section above. Instead, there

will be an explanation of how certain fields need to be populated for the specific transaction.


10.1 New Business (NBS)

Purpose:

To advise of a new 12 month policy and premium that is to be ceded to Flood Re.

Transaction information:

All premiums are determined using the eligibility criteria annual premium lookup table (Council

Tax band or equivalent) to identify the correct premium for the property.

NBS Key Fields Notes

Date Cover Commences

These fields should all contain the same date for a New Business transaction




If the building coverage type value is equal to ‘BLD’, then at least one of these data items must contain a value > 0.

If the Participant is unable to supply data for the remaining items above a default value of zero "0" should be recorded.

Building specific Sum Insured

Rebuilding Cost

Rebuilding Basis Indicator

Should be completed if a value is recorded in the Rebuilding Cost field.


Record the full annual premium for a Flood Re buildings premium for the appropriate eligibility category.




If the contents coverage type value is equal to ‘CNT’, then at least one of these data items must contain a value > 0.

If the Participant is unable to supply data for the other item above a default value of zero "0" should be recorded.



Record the full annual premium for a Flood Re contents premium for the appropriate eligibility category.


Record the full annual premium value for adding the contents section for the appropriate eligibility category.

Total Premium Payable

Should be the sum of Buildings Transaction Premium and Contents Transaction Premium


Key points

NBS transactions should be used when a new policy is taken up with a Participant and the

property is eligible to be ceded with Flood Re.

NBS transactions should not be used to declare policies that are in force for unceded

properties. However, on change of address if an insurer determines that the risk should be

ceded to FR the MTA code should be used. In addition, the policy term effective start date

should reflect the start date of the underlying policy. For clarification in this scenario an

MTA with a reason code of MNA (Move to New Address) should be used for the initial

transaction.

Where only one section of cover is ceded all fields related to the other section must be left

blank.

10.2 Mid-Term Adjustments (MTAs) that materially affect the policy premium:

Purpose:

To provide Flood Re with changes to a previously ceded policy which materially affect the

premium. These changes must be declared using the MTA transaction type and a relevant

reason code from the following list:

Key Description

MNA New Address

MAD Addition or Deletion of Sections

The MTA process always involves reversing out the original premium and applying 100% of the

new premium (Pro-Rata). All premiums will be rounded up or down: 0-5 down, 6-9 up. Whilst

the process involves two separate calculations, the new transactional premium will reflect the

net position and will be represented by a single entry in the underwriting Bordereau.

Participants will calculate their own MTA values, and the system will validate these. MTA

examples can be found in Calculations of Pro-Rata Premium

The following assumptions apply to how the Managing Agent will process MTAs:

If the ‘New Address’ has been selected as the ‘MTA Reason’ then the premium calculation

will refer to both the original and the new corresponding address

If the MTA relates to a single section then the calculation will be applied to just the premium

for that section


If the policy existed previously but had not been ceded to Flood Re which has resulted in

the policy reference not existing in the Flood Re system, then this line is rejected unless the

Participant supplies a MTA reason code of ‘MNA’ (Change of Address). If the Participant

cannot supply the MTA reason code and they believe this risk should be ceded, they

should follow the exception process and contact the Service Desk

Throughout the calculation within each scenario, Participants should note where 'Policy

Term' is noted, this will refer to the number of days between the 'Policy Term Effective Start

Date' and the 'Policy Term Effective End Date'

Throughout the calculation, within each scenario, Participants should also note that where

MTA date is used this is the ‘Policy Transaction Effective Start Date’ from the Bordereaux

When performing the MTA calculation you should always refer to the current annual

premium look-up table.

All policy transactions must be processed and submitted in the right policy transaction

sequence.

10.3 Adding/Deleting Sections (MAD)

This MTA reason code should be used to add or remove a Buildings or Contents section

to/from an existing policy.

Adding a section:

When adding a section to the policy, either the Buildings Coverage Type field or the Contents

Coverage Type fields should be populated with the relevant indicator value (“BLD or “CNT”).

This will trigger the conditional required fields for the appropriate sections:

Transaction information

For Buildings cover:

BLD Fields Notes


If the building coverage type value is equal to ‘BLD’, then at least one of these data items must contain a value > 0.

If the Participant is unable to supply data for the remaining item above a default value of zero "0" should be recorded.

Building specific Sum Insured

Rebuilding Cost




Record the pro-rata premium value for adding or removing the buildings section for the remainder of the policy term.

For Contents cover:


CNT Fields Notes


If the contents coverage type value is equal to ‘CNT’, then at least one of these data items must contain a value > 0.




Record the full annual premium for a Flood Re contents premium for the appropriate eligibility category.


Record the pro-rata premium value for adding or removing the contents section for the remainder of the policy term.

10.4 Move to New Address (MNA)

This section covers the use of the MNA reason code when a ceded policyholder moves from

one address to another that is eligible for Flood Re cover.

Transaction Information

Updating the Address Info:

The Participant should provide a transaction to advise of the new address details only:

Address Fields Notes

FRid (Flood Re ID) Each property has a unique FRid so when a policyholder moves address the new FRid should be quoted (if known) otherwise a breakdown of the address details.

The existing FRid for the policy must not be provided.

House Number Provide details for each of the units for the new address

House Name

If Flat Provide Floor/Level

Address Line 1

Address Line 2

Address Line 3

Post Code

Eligibility Category

In addition to the address-specific fields, the MNA declaration should provide the risk values

and transactional premium details:

Transaction Fields Notes

Buildings Policy Sum Blanket Limit

For Buildings cover, at least one of these three data items should contain a value > 0.

If the Participant is unable to supply data for the remaining items Building specific Sum Insured


Rebuilding Cost above a default value of zero "0" should be recorded.


Record the full annual premium for a Flood Re buildings premium for the appropriate eligibility category relating to the new address.


Record the pro-rata premium value for the new property for the remainder of the policy term.


If the Contents coverage type value is equal to ‘CNT’, then at least one of these data items must contain a value > 0.




Record the full Flood Re contents premium for the appropriate eligibility category relating to the new address.


Record the pro-rata premium value for the new property for the remainder of the policy term.


Total premium to be collected or refunded for the transaction.

Key points

When the MTA relates to a single section then the calculation will be applied to just the

premium for that section

Adding a section to a policy will require additional premium to be paid. Deleting a section

from a policy will require premium to be returned.

It is possible that when a policyholder moves to a new address they also add or remove a

section to the policy. In these circumstances the Participant must provide a single

transaction on a Bordereau for the MNA and include/remove the appropriate section

details/premium along with the new address information.

When a policyholder moves to a new address then the change of eligibility category or a

move after a premium rate increase, will determine if there should be additional premium or

returned premium due. It is also possible that there will be no premium change as the

eligibility category may remain the same. In this case the transaction premium should be

supplied as ‘0’.

All policy transactions must be processed in the right policy transaction sequence.

If the Participant is unable to specify the MTA reason code, MND (Not Defined) must be

used.


10.5 Mid-Term Adjustments that DO NOT materially affect the policy premium

Purpose:

To provide Flood Re with changes to a previously ceded policy for information only purposes

and which will not materially affect the premium. These changes must be declared using the

MTA transaction type and a relevant reason code from the following list:

Key Description

MAA Change to Alternative Accommodation Limit

MCB Change to Building Sum Insured

MCC Change to Contents Sum Insured


When submitting transactions that do not affect the policy premium the original policy details

should be supplied but the fields shown in the table below should be updated:

MTA Transaction Reason Code

Notes

MAA Provide updated values for at least one of the following:

Building Alternative Accommodation Limit

Contents Alternative Accommodation Limit

MCB Provide updated values for at least one of the following:

Building Policy Blanket Sum insured

Building Specific Sum Insured

MCC Provide updated values for at least one of the following:

Contents Blanket Sum insured


Key points

The New Annual Premium fields for the relevant sections should be restated as per the

original transaction.

The Transaction Premium fields should have ‘0’ values as the transaction is not changing

the premium for the policy.

For the avoidance of doubt an insurer does not need to send a MTA to Flood Re when

there is no change to any of the Flood Re Bordereau fields. For example, when an insurer

processes a MTA for a policyholder name change.

All policy transactions must be processed in the right policy transaction sequence.


If one of the specific codes above is selected then that change must be included within the

transaction. For example, by selecting MAA you must include a change to the Alternative

Accommodation Limit.

If the Participant is unable to specify the MTA Reason Code, the Non Defined MND code

should be used.

10.6 Mid-Term Adjustments to cede a policy mid-term

Purpose

To define when a previously unceded policy can be ceded to Flood Re at MTA.

Transaction information

Address and transaction information should be provided as outlined above in the MNA section,

however, the Bordereau dates need to be provided in the following manner:

Date Fields Notes

Date Cover Commences

This should be the date that the MTA is applied


This is the policy term effective start date of the underlying insurer policy


This is the policy term effective end date of the underlying insurer policy


This is the date that the new risk comes on cover with Flood Re

Key Points:

For this scenario the policy must not have previously been ceded to Flood Re.


10.7 Renewal Transaction (REN)

Purpose

A Renewal transaction should be used when ceding a policy that an insurer is renewing with

their original insured. This is not an indication of a renewed ceding with Flood Re. i.e. this

category could be used for ceding a policy to Flood Re for the first time.

The ‘REN’ transaction should be declared in the same way as a New Business transaction.

Key Points:

When a policy is renewed where possible the insurer should try to use the existing policy

reference to renew and simply adjust the Policy Term Effective Start and End Date.

10.8 Void from Inception (VFI)

Purpose

‘Void From Inception’ transactions are to be used for situations where a policy is cancelled

when misrepresentation has been discovered. The VFI transaction together with the

Cancellation Reasons codes (MCN or MCP) indicates to Flood Re whether or not a full refund

of the 12 month premium is due.


Field Notes


Policy Transaction Effective Start Date for the cancellation


Should be set to the original premium


Record the full buildings premium value for the eligibility category, but as a negative value to represent a Returned Premium where MCP has been selected or record ‘0’ when MCN applied.


Should be set to the original premium


Record the full contents premium value for the eligibility category, but as a negative value to represent a Returned Premium where MCP has been selected or record ‘0’ when MCN applied.


Total premium to be refunded for the transaction.

Cancellation Reason Select a reason for the VFI either MCN or MCP


Key Points:

VFI transactions may result in no premium being refunded in circumstances where the

Participant voids the policy due to misrepresentation by the policyholder.

Two codes apply for void from inception transactions; MCN and MCP and these should be

filled in under the ‘Cancellation Reason’ field. If any other code is selected, the line will be

rejected.

10.9 Cancellations (CAN)

Cancellation should be used to cancel an entire policy transaction and must be accompanied

by the relevant Cancellation Reason Code as per Appendix B. The cancellation transaction

should be used to advise Flood Re that a policy is cancelling early and that a return premium

should be paid. The returned premium amount should be determined using the standard

method for calculation of pro-rata premiums. However, in a scenario where a claim has been

made against the policy then no refund will be paid for that term.

Key Fields

Field Notes


Should be the date that the policy is cancelled.


If applicable, should be set to the original premium


If applicable, record the pro-rata returned premium as a negative value.


If applicable, should be set to the original premium


If applicable, record the pro-rata returned premium as a negative value.


Total premium to be refunded for the transaction.

Cancellation Reason Select from option of cancellation reasons in ‘Underwriting Bordereaux’ document.

Key Points:

Cancellation transactions apply to all sections of an active policy, so if a policy has both

buildings and contents cover then the cancellation will apply to both.

If you wish to cancel a single section on a risk that covers both Buildings and Contents, you

must submit a MTA transaction. A cancellation transaction in this scenario would

erroneously cancel the entire risk.


10.10 Reinstatements (RIN)

Reinstatements should be used to reverse a cancellation transaction and must be

accompanied by the relevant Reinstatement Reason Code as per Appendix B.

Key Fields for this transaction:

Field Notes


Should be the date that the policy was cancelled as the reinstatement should apply from that date.


If applicable, record the full annual premium for Buildings recorded on the original policy and at the time of cancellation.


If applicable, record the buildings pro-rata premium – this should be a reversal of the cancellation transaction previously submitted.


If applicable, record the full annual premium for Contents recorded on the original policy and at the time of cancellation.


If applicable, record the contents pro-rata premium – this should be a reversal of the cancellation transaction previously submitted.


Total premium for the transaction.

Reinstatement Reason Select from option of cancellation reasons in ‘Underwriting Bordereaux’ document

Key Points:

Reinstatements can only be used to reverse a cancellation and the policy must be on the

same terms.

It is not possible to submit a Reinstatement in order to reverse a VFI.

If the policy has been cancelled there should be no other transaction between cancelling

and reinstating.


11 USEFUL UNDERWRITING INFORMATION

This section provides additional information that is relevant to providing the Bordereau data in a

range of scenarios.

11.1 Calculation of Pro-Rata Premiums

A standard process should be used when calculating the premium value for transactions that

generate additional or returned premium;

1. Refund the entire premium from previous transactions

2. Calculate the pro-rata premiums to be applied for each of the separate periods within the

policy term

3. Sum the results from steps 1 and 2 in order to determine the premium for the transaction

With regard to step two above, the standard method for calculating a pro-rata premium is as

follows:

Premium for Eligibility Category * Pro-Rata Number of Days / Total Days in Policy Term

Below are some illustrations of how to use this process in order to calculate transaction values

for pro-rata premiums in a variety of situations.


11.2 Example 1: Mid Term Adjustment – Change in Eligibility Category

In this example a policy running from 01/01 – 31/12 has been ceded to Flood Re for combined

building and contents cover on a category A property. Annual Premiums for this eligibility

category are £132 for buildings and £78 for contents, resulting in a combined annual premium

of £210 (£132 + £78).

The original NBS transaction has the following key fields:

Type of Policy Transaction Ceded to Flood Re








NBS 01/01/2016 31/12/2016 01/01/2016 132 132 78 78

An MTA for a change in eligibility to category C is received which is effective from 01/05. The

premium for category C property is £148 for buildings and £98 for contents.

Step 1

The first step for calculating the pro-rata premium for the MTA is to refund the entire premium.

Buildings Transaction Premium = -132

Contents Transaction Premium = -78

Step 2

The next step is to calculate the premium for the individually priced periods within the policy

term.

The Category A Premium is applied from 01/01 – 30/04, a period of 120 days.

Cat A Buildings Transaction Premium = 132 * 120/365 = 43.40

Cat A Contents Transaction Premium = 78 * 120/365 = 25.64

The Category C Premium is applied from 01/05 – 31/12, a period of 245 days.

Cat C Buildings Transaction Premium = 148 * 245/365 = 99.34

Cat C Contents Transaction Premium = 98 * 245/365 = 65.78

Step 3

The final step in the process is to sum the results from steps 1 and 2 in order to calculate the

additional or returned premium due.

Buildings Transaction Premium = -132 + 43.40 + 99.34 = 10.74

Contents Transaction Premium = -78 + 25.64 + 65.78 = 13.42


The key fields for the MTA transaction are as follows:









MTA/MAD 01/01/2016 31/12/2016 01/05/2016 148 10.74 98 13.42

11.3 Example 2: Mid Term Adjustment – Change in Eligibility Category for a previously un-

ceded policy

This example illustrates how to calculate the premium for a policy that is ceded mid-term due to

a change in circumstances making the policy eligible for Flood Re cover. The policy runs from

01/01 – 31/12 and on 01/05 an MTA is received because the policyholder has moved to a

property that is eligible in category C. Category C premiums are £148 for buildings and £98 for

contents.

There will not have been a previous NBS transaction for the risk but the same steps apply in

calculating the pro-rata premium.

Step 1

The first step for calculating the pro-rata premium for the MTA is to refund the entire premium.

Buildings Transaction Premium = 0

Contents Transaction Premium = 0

Step 2


term. In this case it is only once the MTA is applied that the policy has premium.

The Category C Premium is applied from 01/05 – 31/12, a period of 245 days.



Step 3



Buildings Transaction Premium = 0 + 99.34 = 99.34

Contents Transaction Premium = 0 + 65.78 = 65.78











MTA/MNA 01/01/2015 31/12/2015 01/05/2015 148 99.34 98 65.78

11.4 Example 3: Mid Term Adjustment – Change in Eligibility Category followed by removal

of Contents Cover

In this example a policy running from 01/01 – 31/12 has been ceded to Flood Re for combined

building and contents cover on a category A property. Annual Premiums for this eligibility

category are £132 for buildings and £78 for contents, resulting in a combined annual premium

of £210 (£132+ £78.) On 01/05 an MTA is applied which changes the eligibility category from A

to C. A subsequent MTA is applied on 01/11, which removes the contents cover for the

remainder of the policy term.

This scenario follows on from example 1 so please refer above for details on how to calculate

the premium for the change in eligibility. To recap, the key fields for the NBS and MTA would

appear on the Bordereau as follows:









NBS 01/01/2015 31/12/2015 01/01/2015 132 132 78 78

MTA/MAD 01/01/2015 31/12/2015 01/05/2015 148 10.74 98 13.42

When the contents cover is subsequently removed on 01/11 then an MTA should be submitted

on the Bordereau. The standard process should be used in order to calculate the transactional

value for the contents cover.

Step 1

Refund the entire contents premium

Contents Transaction Premium = -78 + -13.42 = -91.42

Step 2

The next step is to calculate the contents premium for the individually priced periods within the

policy term.



The Category C Premium is now applied from 01/05 – 31/10, a period of 184 days.



There is no contents cover from 01/11 onwards.

Step 3



Contents Transaction Premium = -91.42 + 25.64 + 49.40 = -16.38










MTA/MAD 01/01/2015 31/12/2015 01/05/2015 148 0 98 -16.38

11.5 Example 4: Mid Term Adjustments – Change in Eligibility Category followed by removal

of Contents Cover, and then Cancellation

This scenario further builds on the previous example in which a ceded policy is running from

01/01 – 31/12 and has MTAs applied on 01/05, to change eligibility category, and 01/11, to

remove the contents cover for the remainder of the policy term. This example sets out the

calculations required to apply a cancellation to the policy as at 01/12.

Please refer to Examples 1 and 3 for details on changing the eligibility or removing the contents

cover. To recap, the Bordereau transactions for the NBS and two MTA transactions were:









NBS 01/01/2015 31/12/2015 01/01/2015 132 132 78 78

MTA/MAD 01/01/2015 31/12/2015 01/05/2015 148 10.74 98 13.42

MTA/MAD 01/01/2015 31/12/2015 01/05/2015 148 0 98 -16.38

The cancellation of the entire policy takes effect from 01/12, which is after the contents cover

has already been removed. As before, the standard steps should be followed in order to

generate the transactional premium values.

Step 1

Refund entire premium.

Buildings Transaction Premium = -132 + -10.74 = -142.74

Contents Transaction Premium = -78 + -13.42 + 16.38 = -75.04


Step 2


term.

Buildings Premium


Cat A Buildings Transaction Premium = 132 * 120/365 = 43.40



There is no buildings cover from 01/12 onwards.

Contents Premium





There is no contents cover from 01/11 onwards.

Step 3



Buildings Transaction Premium = -142.74 + 43.40 + 86.77 = -12.57

Contents Transaction Premium = -75.04 + 25.64 + 49.40 = 0

The key fields for the Cancellation transaction are as follows:









CAN 01/01/2015 31/12/2015 01/12/2015 148 -12.57 98 0


12 HOW TO RECORD CLAIMS TRANSACTIONS

Like underwriting there are various steps that the Participant must undertake to correctly

prepare the Bordereau. This section provides an understanding of how to create, populate and

validate the Claims Bordereau.

12.1 Claims Restatement Completion

Whilst the underwriting Bordereau is transactional, the claims Bordereau should be provided on

a restatement basis.

The Claims Bordereau must contain a month end snapshot of all new and existing open claims

and in addition all claims which have been closed during the relevant reporting period.

Unlike submission of the monthly Underwriting Bordereaux, which can contain many

transactions for a single policy reference, the claim Bordereau should only contain one line with

the unique claim reference. The ‘restatement’ or ‘snapshot’ entry will reflect the most up-to-date

detail of the claim for all data fields. Once a valid line is received for a claim, no further updates

for that claim will be accepted for that reporting month.

If the claim is not updated during the reporting period but has not yet been reported to us as

‘closed’, a restatement of the current claims values still needs to be included on the Bordereau.


12.2 Claims Bordereau field descriptions

As mentioned above (Bordereau Report header data) the report is split into two categories;

The Report header (a summary of transactions) and;

The Risk detail section (list of transaction occurring within the period)

The colour codes used to denote these values are highlighted in the key below.

Header Data: Narrative

Risk Detail: Narrative

Participants may notice that the ‘Field Names’ differ slightly from the .CSV column header names; in Appendix A below (Bordereau specification/definition -

Claims) there is a spreadsheet detailing data types, field formats, pick list references and also has the corresponding ‘Column header’ names.

We will now go through each field on the underwriting Bordereau to understand how to populate the values.

Field Description Required Actions

Notes

Report Header: Bordereau Date

The claims Bordereau submission date M

Report Header: Bordereaux Month

The month the data in the Claims Bordereau relates to. The value is case sensitive and can only contain one of the following: January, February, March, April, May, June, July, August, September, October, November, December

M All data contained in a Bordereau should only be for a single month. Other month’s Bordereau should be contained in a separate submission.



Notes

Report Header: Bordereau Version

As Bordereau can be submitted a number of times this field is an incremented count of submissions within a monthly.

M The version number should always be 2 numeric characters between 01 and up to 99. To be used for resubmissions within the Bordereaux Month.

‘01’ will be the standard first submission.

Report Header: Bordereau Type

States if the Bordereau is for Claims or Underwriting. M Underwriting and Claims Bordereau should be submitted separately.

Claims should only be submitted following the policy being accepted by Flood Re.

Value must always equal ‘2’ for claims

Report Header: Bordereau Line Count

The total number of claims transactions to be submitted. M

Report Header: Bordereau Overall Total Requested This Time

The sum of all 'Total Requested this Time' (detailed below) for transactions listed in the Bordereau and ceded to Flood Re for this month and version.

M

Report Header: FR Insurers ID

The identifier (ID) supplied to the Participant responsible for submitting the Bordereau to Flood Re during the on-boarding phase.

M This number will be supplied to the Participant during the on-boarding process

Report Header: Insurers Name

This is the name of the Insurer. If it is a Lloyd’s member, it should specify the Syndicate and Managing Agent.

M

Report Header: Insurer FCA Number

Insurer FCA Number M Or equivalent for passporting Insurer

Report Header: Flood Re Treaty Reference Number

The Reinsurance Treaty Reference covering the reporting period provided by Flood Re

O Enter ‘Flood Re Reinsurance Treaty 2015 V1’ (this is subject to change in the future)



Notes

FRid (Flood Re - ID) The Flood Re unique identifier of "FRid" is being created by the Managing Agent for all of the 30 million UK properties that will be stored on the online and offline version of the Property Data Hub. The unique field is a UUID ,UUID is represented by 32 lowercase hexadecimal digits, displayed in five groups separated by hyphens, in the form 8-4-4-4-12 for a total of 36 characters (32 alphanumeric characters and four hyphens).

O

Insurer Brand An optional field that can be used by an insurer to further identify the Brand Source of the ceded policy

O

Insurer Policy Reference

This will be the insurers own policy reference M

Insurer Claim Number This is the unique number allocated to the claim on the insurers system and is linked to the policy. It is used to uniquely identify individual Claims. It must be the insurer’s reference and not a supplier’s reference (for example it is not the loss adjusters reference). This number should remain for the life of the claim.

M

Insurer Claim Movement Number (Latest)

Additional reference provided by the Insurer to denote the current position of the Insurers claim as at the Bordereau creation date. A rising number is required but it does not have to be sequential.

O

Date of Loss This is the first date that flooding occurred at the property M

Time of Loss The time the loss occurred where known. This is a 24 Hour format

O The date element of the Time of Loss must be the same as the date within Date of Loss

Date of Notification This is the First Notification of Loss to the Insurer. M



Notes

Initial Reserve The reserve is the gross claim reserve and must not include any deductions (for example excess or potential recovery).

At first notification the reserve may be a system allocated standard reserve, a case specific reserve or an estimate provided by the policyholder. Reserves should include fees. This Initial Reserve remains for the life of the claim.

M This figure should also be the sum of Buildings Initial Reserve and Contents Initial Reserve if those fields are populated with values.

Initial Reserve Type Denotes whether the estimate of damage was provided by the policyholder or the Insurer

M Options as per reference data in ‘Claims Bordereaux’

Claim Status Current Status of the overall claim M Options as per reference data in ‘Claims Bordereaux’

Claim Reopened Reason Code

Code applied to establish the reason for re-opening a closed claim, this is conditional upon 'Claim Status'.

C Options as per reference data in ‘Claims Bordereaux’

Claim Repudiation Code

Reason the claim has been repudiated by the insurer C Options as per reference data in ‘Claims Bordereaux’

Claim Settlement Date Date the claim was settled with policyholder and/or third party

C It is at this point that an insurer can request reimbursement from Flood Re

Claim Closed Date Date all activity complete and Insurer closes the claim, all outstanding reserves except for initial reserves should be set to zero

C

Cat Event Code In the event of a catastrophic loss the industry will provide a market CAT event code applied to claim

O Options as per reference data in ‘Claims Bordereaux’

No current codes exist but this is expected to grow over time as Flood events occur and codes are created.

Buildings Excess Applied

Has Insurer applied a Policy or Building excess C Y=Yes

N=No



Notes

Buildings Excess Amount

This is the excess applied by the Insurer to the policyholders Buildings claim (not the Flood Re excess).

C

Contents Excess Applied

Has Insurer applied a Policy or Contents excess C Y=Yes

N=No

Contents Excess Amount

This is the excess applied by the Insurer to the policyholders Contents claim (not the Flood Re excess).

C

Combined Excess Amount

This field should only be completed where the policy on risk is for both Buildings and Contents and the insurer has offered a combined excess.

The value in this field must equal at least the value of the lower of either the Buildings or Contents Excess held in in the underwriting Bordereau.

C

Type of Flooding Description of the type of flooding that has caused the damage

O Options as per reference data in ‘Claims Bordereaux’

Flood Height at the Property

Estimate of the height of flood water in feet. O Options as per reference data in ‘Claims Bordereaux’

BLD Initial Reserve The reserve should be the gross Buildings reserve and not include any deductions (for example excess or potential recovery).

At first notification the reserve may be a system allocated standard reserve, a case specific reserve or an estimate provided by the policyholder. Reserves should include fees. This Buildings Initial Reserve remains for the life of the claim

O



Notes

BLD Current Paid The Paid to Date figure for Buildings in respect of Indemnity damage.

O If indemnity cannot be split between the policyholder and third parties then we expect all indemnity payments to be reported in this field.

BLD Alternative Accommodation Paid

The Paid to Date figure for Alternative Accommodation on the Buildings section

O

BLD Loss Adjuster Fees Paid

The Paid to Date figure for Loss Adjuster Fees on the Buildings section

O

BLD Specialist Fees Paid

The Paid to Date figure for Specialist Fees on the Buildings section

O If BLD Specialist Fees Paid cannot be split, we expect them to be included within BLD Loss Adjusters Fees Paid.

BLD Third Party Paid The Paid to Date figure for Third Party Indemnity settlements on the Buildings section

O

BLD FOS Paid The Paid to Date figure for FOS payments on the Buildings section

O FOS payments must be authorised by Flood Re prior to submission

BLD Current Outstanding

The Outstanding current Indemnity reserve for Buildings Damage.

O If indemnity cannot be split between the policyholder and third parties then we expect all indemnity outstanding reserves to be reported in this field.

BLD Alternative Accommodation Outstanding

The Outstanding current reserve for Alternative Accommodation on the Buildings section

O

BLD Loss Adjuster Fees Outstanding

The Outstanding current reserve for Loss Adjuster Fees on the Buildings Section

O

BLD Specialist Fees Outstanding

The Outstanding current reserve for Specialist fees on the Buildings section

O If BLD Specialist Fees Outstanding cannot be split, we expect them to be included within BLD Loss Adjusters Fees Outstanding.



Notes

BLD Third Party Outstanding

The Outstanding current reserve for Third Party on the Buildings section

O

BLD FOS Outstanding The Outstanding current reserve for FOS on the Buildings section

O

BLD Recovery Indication of whether there is a recovery potential on the Buildings section

O Y= Yes

N= No

P= Potential

BLD Recovery Amount Received

Recovery amount received on the Buildings section by the Insurer

O A negative value is expected.

BLD Recovery Amount Outstanding

Anticipated Recovery amount outstanding on the Building section


High Value Fine Art Item Excluded

Confirmation that any High Value Fine Art Items noted on the Policy that have been damaged in the flood, have been excluded from reported payments

O Y= Yes

N= No

CNT Initial Reserve The reserve should be the gross Contents reserve and not include any deductions (for example excess or potential recovery).

At first notification the reserve may be a system allocated standard reserve, a case specific reserve or an estimate provided by the policyholder. Reserves should include fees. This Contents Initial Reserve remains for the life of the claim

O

CNT Current Paid The Paid to Date figure for Contents damage. If indemnity cannot be split between the policyholder and third parties then we expect all indemnity payments to be reported in this field.

O



Notes

CNT Alternative Accommodation Paid

The Paid to Date figure for Alternative Accommodation on the Contents section

O If CNT Alternative Accommodation Paid cannot be split, we expect the paid figure to be applied to the BLD Alternative Accommodation Paid and a zero to be applied here.

CNT Loss Adjuster Fees Paid

The Paid to Date figure for Loss Adjuster Fees on the Contents section

O If CNT Loss Adjuster Fees Paid cannot be split, we expect the paid figure to be applied to the BLD Loss Adjuster Fees Paid and a zero to be applied here.

CNT Specialist Fees Paid

The Paid to Date figure for Specialist Fees on the Contents section

O If CNT Specialist Fees Paid cannot be split, we expect the paid figure to be applied to the CNT Loss Adjuster Fees Paid and a zero to be applied here.

CNT Third Party Paid The Paid to Date figure for Third Party settlements on the Contents section

O

CNT FOS Paid The Paid to Date figure for FOS payments on the Contents section

O FOS payments must be authorised by Flood Re prior to submission

CNT Current Outstanding

The Outstanding current reserve for Contents damage. If indemnity cannot be split between the policyholder and third parties then we expect all indemnity outstanding reserves to be reported in this field.

O

CNT Alternative Accommodation Outstanding

The Outstanding current reserve for Alternative Accommodation on the Contents section

O If CNT Alternative Accommodation Outstanding cannot be split, we expect the Outstanding figure to be applied to the BLD Alternative Accommodation Outstanding and a zero to be applied here.

CNT Loss Adjuster Fees Outstanding

The Outstanding current reserve for Loss Adjuster Fees on the Contents Section

O If CNT Loss Adjuster Fees Outstanding cannot be split, we expect the Outstanding figure to be applied to the BLD Loss Adjuster Fees Outstanding and a zero to be applied here.

CNT Specialist Fees Outstanding

The Outstanding current reserve for Specialist fees on the Contents section

O If CNT Specialist Fees Outstanding cannot be split, we expect the Outstanding figure to be applied to the CNT



Notes

Loss Adjuster Fees Outstanding and a zero to be applied here.

CNT Third Party Outstanding

The Outstanding current reserve for Third Party on the Contents section

O

CNT FOS Outstanding The Outstanding current reserve for FOS on the Contents section

O

CNT Recovery Indication of whether there is a recovery potential on the Contents section

O Y=Yes

N=No

P=Potential

If the CNT Recovery cannot be split from the claim recovery, then we expect CNT Recovery values to be applied to the BLD Recovery fields and N populated here.

CNT Recovery Amount Received

Recovery amount received on the Contents section by the Insurer


CNT Recovery Amount Outstanding

Anticipated Recovery amount outstanding on the Contents section


Total Incurred Sum of all Paids, all Recoveries Received and all Outstandings

M

Total Requested this Time

The net settlement amount that the Insurer wishes to recover from Flood Re once the Insurer has settled the claim and fees

O This figure must exclude any exceptional interim payments that have been agreed and previously paid by Flood Re and take in to account any additional excess applied to reflect the Flood Re excess of £250 (where Insurer excess applied is < £250)

Is Payment Final Indication of whether the 'Total Requested this Time' value is the final anticipated claim payment

C Y=Yes

N=No


Flood Re will reimburse the insurer when the insurer has made the final indemnity payment to the claimant. In some scenarios a claim may remain open due

to outstanding recovery amounts even after final payment has been made to the claimant.


Below is a table listing all of the fields that contain data relating to the recording and payment of claims.

12.3 Claims Bordereau Fields

The table below represent payment mapping in the event an insurer claims system does not match directly with Flood Re’s claims system.

Key:

The fields in which are coloured either BLUE OR GREEN are the fields that must contain details for the section

Claims Bordereau Field name

.CSV Header Name Field Description

BLD Current Paid BUILDING_CURRENT_RESERVE_PAID In the event of a Buildings claim, this field should contain Payments that have been made to the policyholder relating to Indemnity damage to Buildings

BLD Alternative Accommodation Paid

BUILDING_ALTERNATIVE_ACCOMMODATION_PAID If unable to identify specific Payments, include in BLD Current Paid

BLD Third Party Paid BUILDING_THIRD_PARTY_PAID If unable to identify specific Payments, include in BLD Current Paid

BLD FOS Paid BUILDING_FOS_PAID If unable to identify specific Payments, include in BLD Current Paid

BLD Loss Adjuster Fees Paid BUILDING_LOSS_ADJUSTER_FEES_PAID

BLD Specialist Fees Paid BUILDING_SPECIALIST_FEES_PAID If unable to identify specific Payments, include in BLD Loss Adjuster Fees Paid

BLD Current Outstanding BUILDING_CURRENT_RESERVE_OUTSTANDING In the event of a Buildings claim, this field should contain the anticipated Outstanding reserve for Indemnity damage to Buildings

Buildings Claims data

Contents Claims data

Breakdown items




BLD Alternative Accommodation Outstanding

BUILDING_ALTERNATIVE_ACCOMMODATION_OUTSTANDING If unable to identify specific Outstanding’s, include in BLD Current Outstanding

BLD Third Party Outstanding

BUILDING_THIRD_PARTY_OUTSTANDING If unable to identify specific Outstanding’s, include in BLD Current Outstanding

BLD FOS Outstanding BUILDING_FOS_OUTSTANDING If unable to identify specific Outstandings, include in BLD Current Outstanding

BLD Loss Adjuster Fees Outstanding

BUILDING_LOSS_ADJUSTER_FEES_OUTSTANDING

BLD Specialist Fees Outstanding

BUILDING_SPECIALIST_FEES_OUTSTANDING If unable to identify specific Outstandings, include in BLD Loss Adjuster Fees Outstanding

BLD Recovery Amount Received

BUILDING_RECOVERY_AMOUNT_RECEIVED This field is to be used to record ALL Recovery Amounts Received in respect of Buildings. There is no requirement to split Recovery by Payment Type. A negative value is expected

BLD Recovery Amount Outstanding

BUILDING_RECOVERY_AMOUNT_OUTSTANDING This field is to be used to record ALL Recovery Amounts Outstanding in respect of Buildings. There is no requirement to split Recovery by Reserve Type. A negative value is expected

CNT Current Paid CONTENTS_CURRENT_PAID In the event of a Contents claim, this field should contain Payments that have been made to the policyholder relating to Indemnity damage to Contents

CNT Alternative Accommodation Paid

CONTENTS_ALTERNATIVE_ACCOMMODATION_PAID If unable to identify specific Payments, include in CNT Current Paid

CNT Third Party Paid CONTENTS_THIRD_PARTY_PAID If unable to identify specific Payments, include in CNT Current Paid

CNT FOS Paid CONTENTS_FOS_PAID If unable to identify specific Payments, include in CNT Current Paid

CNT Loss Adjuster Fees Paid CONTENTS_LOSS_ADJUSTER_FEES_PAID

CNT Specialist Fees Paid CONTENTS_SPECIALIST_FEES_PAID If unable to identify specific Payments, include in CNT Loss Adjuster




Fees Paid

CNT Current Outstanding CONTENTS_CURRENT_RESERVE_OUTSTANDING In the event of a Contents claim, this field should contain the anticipated Outstanding reserve for Indemnity damage to Contents

CNT Alternative Accommodation Outstanding

CONTENTS_ALTERNATIVE_ACCOMMODATION_OUTSTANDING If unable to identify specific Outstandings, include in CNT Current Outstanding

CNT Third Party Outstanding

CONTENTS_THIRD_PARTY_OUTSTANDING If unable to identify specific Outstandings, include in CNT Current Outstanding

CNT FOS Outstanding CONTENTS_FOS_OUTSTANDING If unable to identify specific Outstandings, include in CNT Current Outstanding

CNT Loss Adjuster Fees Outstanding

CONTENTS_LOSS_ADJUSTER_FEES_OUTSTANDING

CNT Specialist Fees Outstanding

CONTENTS_SPECIALIST_FEES_OUTSTANDING If unable to identify specific Outstandings, include in CNT Loss Adjuster Fees Outstanding

CNT Recovery Amount Received

CONTENTS_RECOVERY_AMOUNT_RECEIVED This field is to be used to record ALL Recovery Amounts Received in respect of Contents. There is no requirement to split Recovery by Payment Type. A negative value is expected

CNT Recovery Amount Outstanding

CONTENTS_RECOVERY_AMOUNT_OUTSTANDING This field is to be used to record ALL Recovery Amounts Outstanding in respect of Contents. There is no requirement to split Recovery by Outstanding Type. A negative value is expected.

Total Incurred This field is the total sum of all of the above fields


12.4 Useful Claims Information

Any ex-gratia payments must first be agreed by Flood Re

In the event that a claim is rejected by an insurer, Flood Re may reimburse any professional

fees that may have arisen.


13 UNDERWRITING AND CLAIMS SCENARIOS

This section outlines the fields required to be filled for various Underwriting and Claims

scenarios by providing examples that have been tested through the solution and have passed

validation. Please see the spreadsheet attachments in the Appendix section for the actual

examples Underwriting Scenarios.

For examples of each scenario listed below please refer to the ‘Bordereau Functional design’

document.

13.1 Underwriting Scenarios

New Business Contents Only

An example of a New Business policy ceded to Flood Re with Contents only cover.

New Business Buildings and Contents

An example of a New Business policy ceded to Flood Re with Buildings and Contents cover.

MTA Addition of Contents to a Buildings only Policy

An example of a Mid Term Adjustment to add contents cover to a buildings only policy that has

already been ceded to Flood Re.

MTA Addition of Buildings to a Contents only Policy

An example of a Mid Term Adjustment to add buildings cover to a contents only policy that has

already been ceded to Flood Re.

MTA Removal of Buildings from a Combined Buildings and Contents Policy

An example of a Mid Term Adjustment to remove buildings cover from a combined buildings

and contents policy that has already been ceded to Flood Re.

MTA Removal of Contents from a Building and Contents Policy

An example of a Mid Term Adjustment to remove contents cover from a combined buildings and

contents policy that has already been ceded to Flood Re.

MTA to Cede a Policy Mid-Term

An example of a policy which was previously not eligible for reinsurance but there has been a

change in circumstances and the policy is now eligible. This specific example is due to the

policyholder moving address to a property that is eligible and can only be achieved through

using the MTA and change of address code.


Cancellation of a Contents and Building Policy

An example of a transaction to advice of the Cancellation of a combined buildings and contents

policy.

Reinstatement of a Contents and Buildings Policy

An example of a transaction to advise of the Reinstatement of a cancelled combined buildings

and contents policy.

Void From Inception No Premium Due

An example of a transaction to advise that a policy was made Void as at the inception date but

no premium needs to be refunded.

Void from Inception Full Premium Due

An example of a transaction to advise that a policy was made Void as at the inception date and

the full premium should be refunded to the Participant.

Renewal of Buildings and Contents Policy

An example of a transaction to advise of the renewal of a combined buildings and contents

policy that was ceded to Flood Re in the previous year of account.

13.2 Claims Scenarios

Submission of a new claim

An example of a new claim being registered with Flood Re

Restatement of an existing claim with no changes

An example of an existing claim being restated on the Bordereau with no changes to the claim.

Restatement of an existing claim – partial payment

An example of an existing claim being restated on the Bordereau and a partial payment having

been made.

Restatement of an existing claim – full payment

An example of an existing claim being restated on the Bordereau and full payment having been

made.


14 APPENDIX B – UNDERWRITING REFERENCE DATA

Key Type of policy transaction ceded to

Flood Re

NBS New Business

MTA Mid Term Adjustment

REN Renewal

CAN Cancellation

RIN Reinstatement

VFI Void from Inception

Key Property Type

DH Detached house

ETH End terraced house

H House

MTH Mid terrace house

SDH Semi-detached house

TH Terraced house

BF Basement flat

FT Flat

GF Ground Floor Flat

OF Other Floor Flat

B Bungalow

MTB Mid Terraced Bungalow

DB Detached Bungalow

ETB End terrace bungalow

SDB Semi-detached bungalow

TB Terraced bungalow

MNS Maisonette

BUC Building Under Construction

CH Chalet

HR Halls of Residence

HB House Boat

M Mansion

PH Park Home

RC Residential Caravan

R Rooms

SF Service Flat Within Employers Premises

SH Show House

UNK Unknown

Key Wall Construction

ALM Aluminium

ASB Asbestos

BR Brick

BG Bungaroosh

CLA Clay-Lump/Adobe

CLU Clunch

COB Cob Construction

CON Concrete

CI Corrugated Iron

EC Essex Construction

FG Fibreglass Construction

FLN Flint

GLS Glass

LAP Lathe And Plaster

MTL Metal

MB Mundic Block

PST Plastic

PC Prefabricated Building - Combustible Materials

PN Prefabricated Building - Non Combustible Materials

STN Standard Construction

SF Steel Frame

SFB Steel Frame/Brick

SFR Steel Frame/Render Or Pebbledash

SFT Steel Frame/Tile

SFW Steel Frame/Wood Shiplap

STO Stone

STM Stramit Construction

SB Straw Bale

SIP Structurally Insulated Panels (SIPs)

TBR Timber

TBF Timber Frame

TFB Timber Frame/Brick

TLP Timber Frame/Lathe And Plaster

TFS Timber Frame/Stone

TFT Timber Frame/Timber

TP Timber/Plaster

WAD Wattle And Daub Construction

WW Woodwall

WC Woodwork Construction

UNK Not Covered By Any Other Item On The List

Key Reinstatement Reason Code

CE Cancelled in Error

PR Premium Received

ND Not Defined


Key Roof Construction

ALM Aluminium

ASB Asbestos

ASP Asphalt

CON Concrete

COP Copper

CI Corrugated Iron

EPD Ethylene Propylene Diene Monomer EPDM

FOT Felt On Timber

FBR Fibreglass

GLS Glass

GR Green Roofs

LED Lead

MTL Metal

PST Plastic

POL Polycarbonate

PVC Reinforced PVC

SHG Shingle

SA Shingle - Asphalt

SP Shingle - Pine/Spruce/Cedar

SLT Slate

STN Standard Construction

STM Stramit

TF Thatch - Fibre

TR Thatch - Reed

TLE Tile

TBR Timber

TRN Turnerised

WC Woodwork Construction

ZNC Zinc

UNK Not Covered By Any Other Item On The List

Key Cancellation Reason Code

CSR Section removed from Policy

CNC Policy Cancelled any time during policy period

CCP Cancelation within cooling off Period

CPV Policy no longer valid for Flood Re reinsurance

MCN Mis-Representation No Premium Due

MCP Mis-Representation Full Premium Due

PNP No Premium Paid

CND Not Defined

Key MTA Reasons

MNA New Address

MAD Addition or Deletion of Building or Contents

MAA Change to Alternative Accommodation Limit

MCB Change to Building Sum Insured

MCC Change to Contents Sum Insured

MND Not Defined

Key Transaction Validation Code

1 Valid

2 Invalid

Key If Basement Confirm Usage

S Storage

D Dwelling

U Unknown

Key Error Code

TBC Technical Errors

TBC Business Errors

Key Property tax band derivation

1 FR Property Tax Table

2 Alternative source

Key Property Usage

P Policy Holder Residence

H Holiday Home/Second Home??

M Multiple

N Not Defined

Key Rebuilding basis indicator

I Insured declared estimate

C Calculated by Insurer

S Provided by Surveyor

U Unknown


15 APPENDIX C – CLAIMS REFERENCE DATA

Key Claim Status

CO Open

CC Closed

CR Re-Opened

Key Claim Reopened Reason Code

MI More Information

ND Not Defined

Key Claim Repudiation code

NC Not Covered

MIS Misrepresentation

PNF Policy Not in Force

ND Not Defined

Key Claims Event Code

Type of Event

Key Type of Flooding

RV River

CS Coastal

RO Run-off

GW Ground Water

NC Flood - Non-Coastal

BD Flood - Backing up of Drains

RD Reservoir

Key Flood height at the property (FT)

1 < 1

2 1-2 ft

3 3 - 5 ft

4 5- 7 ft

5 8-10 ft

6 10-15 ft

Key Transaction Validation Code

1 Valid

2 Invalid

Key Error Code

Supplied By Landmark to Insurer

Split between technical and business errors

Key Initial Reserve Type

P Policyholder

I Insurer

U Unknown


16 CONTACT SUPPORT

Should you have any questions regarding this document or need support with any other Flood

Re issue, please contact the service desk using one of the following methods:

Telephone: +44 (0)330 024 3131

Email: [email protected]

Once you have on-boarded with Flood Re you will be provided with logon details which will

allow you to log your query through the online technical service desk:

Online technical service desk - www.floodre-zendesk.com

Write to us:

Flood Re 75 King William Street London EC4N 7BE

http://www.floodre-zendesk.com/

bordereaux completion guide version 3 - flood re · about how to cede particular risks and report...

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