The rule in plain words
Report each line of business using its number (e.g. 1 for Medical expenses insurance). If reporting multiple lines, list the numbers in ascending order, separated by commas (e.g. 1, 2)
The headline gives only the template and the kind of check, because the rule is too long to say in a headline. The plain words above say all of it.
What to do if your return fails it
- 01Open the table below and find the cells the rule reads.
- 02Compare the code or text in your return with the format the rule sets out, character by character, including any prefix and any spaces.
- 03It runs only when your filing indicators mark IR.21.04 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
Cyber underwriting risk - risk identification (IR.21.04.01.01)
Column
- C0050Line(s) of business
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 third-country branch (ARB) and annual solo (ARS) 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}.
matches({t: IR.21.04.01.01, c: C0050}, "^((1$|1,){0,1}(2$|2,){0,1}(3$|3,){0,1}(4$|4,){0,1}(5$|5,){0,1}(6$|6,){0,1}(7$|7,){0,1}(8$|8,){0,1}(9$|9,){0,1}(10$|10,){0,1}(11$|11,){0,1}(12$|12,){0,1}(13$|13,){0,1}(14$|14,){0,1}(15$|15,){0,1}(16$|16,){0,1}(17$|17,){0,1}(18$|18,){0,1}(19$|19,){0,1}(20$|20,){0,1}(21$|21,){0,1}(22$|22,){0,1}(23$|23,){0,1}(24$|24,){0,1}(25$|25,){0,1}(26$|26,){0,1}(27$|27,){0,1}(28$){0,1})$")Other rules on Cyber underwriting risk (IR.21.04)
- 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 format of a code or text (IR_bv2492)
- Cyber underwriting risk: the format of a code or text (IR_bv2491)
- Cyber underwriting risk: double, tailing or leading whitespaces are not allowed (IR_bv1681)Blocking
- 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.