The rule in plain words
The Sum(s) insured (C0080) should typically be greater than or equal to the Sum(s) reinsured (C100)
What to do if your return fails it
- 01Open the table below and find the cells the rule reads.
- 02Compare the values in your return. If the first is smaller than it may be, one of them is wrong: check both before you change either.
- 03It runs only when your filing indicators mark IR.21.04 as reported.
- 04This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it.
The cells it reads
Cyber underwriting risk - risk identification (IR.21.04.01.01)
Columns
- C0080Sum(s) insured
- C0100Sum(s) reinsured
Which returns it applies to
Line4 Check runs it on annual solo (ARS) and annual third-country branch (ARB) returns on Bank of England taxonomy 2.2.0. The Bank of England applies it to annual solo (ARS) and annual third-country branch (ARB) returns, as a warning.
The Bank’s own words and formula
The plain words above are the Bank of England’s own, word for word, from its list of validations.
Show the formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
{t: IR.21.04.01.01, c: C0080} >= {t: IR.21.04.01.01, c: C0100}Other rules on Cyber underwriting risk (IR.21.04)
- Cyber underwriting risk: a conditional check (IR_bv0084)
- Cyber underwriting risk: double, tailing or leading whitespaces are not allowed (IR_bv1681)Blocking
- Cyber underwriting risk: the format of a code or text (IR_bv2491)
- Cyber underwriting risk: the format of a code or text (IR_bv2492)
- Cyber underwriting risk: the format of a code or text (IR_bv3007)Blocking
- Cyber underwriting risk: values reported in the columns should be greater than or equal to zero (IR_bv3023)
- Cyber underwriting risk: if Product Group Code (C0010) is reported then Line(s) of business (C0050) should be reported (IR_bv3024_01)
- Cyber underwriting risk: a conditional check (IR_bv3024_02)
Every Solvency UK rule on IR.21.04
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.