The rule in plain words
For the reported premiums there must be exposure reported for corresponding peril
What to do if your return fails it
- 01Open the tables below and find the cells the rule reads.
- 02The check applies only when its first part holds in your return. When it does, the second part must hold too: fix the second part, or correct the first.
- 03It runs only when your filing indicators mark S.27.03 as reported.
- 04This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.
The cells it reads
Catastrophe data - exposure and premium data: insurance exposure (sum insured value) - reporting for gross direct business (S.27.03.01.01)
Column
- C0130Exposure
Catastrophe data - exposure and premium data: insurance premium and expenses - reporting for gross direct business (S.27.03.01.02)
Column
- C0170Gross written premium for direct business - all asset type
Which returns it applies to
Line4 Check runs it on annual solo (ARS) return on EIOPA taxonomy 2.10.0. EIOPA applies it to annual solo (ARS) and annual ECB solo (AES) returns, as a blocking check.
EIOPA’s own words and formula
The plain words above are EIOPA’s own, word for word, from its list of validations.
Show the formulaShowHide
EIOPA's formula. Cells are written as {t: table, r: row, c: column}.
if not(isnull({t: S.27.03.01.02, c: C0170})) then not(isnull({t: S.27.03.01.01, c: C0130, z: Z0001})) else true()Other rules on Catastrophe data - exposure and premium data (S.27.03)
- Catastrophe data - exposure and premium data: a value must not be less than another (BV2578)Blocking
- Catastrophe data - exposure and premium data: a value must not be less than another (BV2577)Blocking
- Catastrophe data - exposure and premium data: a value must not be less than another (BV2581)Blocking
- All columns reported in S.27.03 must contain values greater than or equal to zero (BV2576)Blocking
- Catastrophe data - exposure and premium data: a conditional check (BV2582)
- Columns "Exposure" and "Number of risks" must be reported (BV2575)Blocking
- Catastrophe data - exposure and premium data: a check on its values (BV2574)Blocking
- Catastrophe data - exposure and premium data: a conditional check (BV2573)
Every Solvency II rule on S.27.03
Checks like this one, run at the point of submission, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.
