The rule in plain words
Double, tailing or leading whitespaces are not allowed
This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.
The cells it reads
Cyber underwriting risk - risk identification (IR.21.04.01.01)
Columns
- C0010Product Group Code
- C0040Cyber coverage
- C0050Line(s) of business
- C0080Sum(s) insured
- C0090Premium(s)
- C0100Sum(s) reinsured
- C0110Number of Claims settled with Payment
- C0120Amount of Gross Claims Paid - Total
- C0121Amount of Gross Claims Paid - First Party
- C0122Amount of Gross Claims Paid - Third Party
- C0123Amount of Gross Claims Paid - Costs & Expenses
- C0130Number of Claims settled without payment
- C0140Gross undiscounted best estimate provision for claims outstanding - Total
- C0141Gross undiscounted best estimate provision for claims outstanding - First Party
- C0142Gross undiscounted best estimate provision for claims outstanding - Third Party
- C0143Gross undiscounted best estimate provision for claims outstanding - Costs & Expenses
Which returns it applies to
Line4 Check runs it on quarterly solo (QRS), quarterly group (QRG), annual solo (ARS), annual group (ARG) and annual third-country branch (ARB) returns on Bank of England taxonomy 2.2.0. The Bank of England applies it to quarterly solo (QRS), annual third-country branch (ARB), annual solo (ARS), quarterly group (QRG) and annual group (ARG) returns, as a blocking check.
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}.
not(matches(dim($v0,$[boec_dim:NJ]), "((^ )|( )|( $))+"))Other rules on Cyber underwriting risk (IR.21.04)
- 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)
- Cyber underwriting risk: a conditional check (IR_bv3024_03)
- Cyber underwriting risk: the Sum(s) insured (C0080) should typically be greater than or equal to the Sum(s) reinsured (C100) (IR_bv0115)
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.