The rule in plain words
For the Gross estimated ultimate premium (IR.19.02.01.22), for each Line of Business (Z0010) reported, there must be a Currency (Z0030) = ‘Total/NA’ reported
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.
- 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 IR.19.02 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
Non-life general liability claim development: gross estimated ultimate premium (absolute amount) (IR.19.02.01.22)
Rows
- R0100Prior
- R0110N-14
- R0120N-13
- R0130N-12
- R0140N-11
- R0150N-10
- R0160N-9
- R0170N-8
- R0180N-7
- R0190N-6
- R0200N-5
- R0210N-4
- R0220N-3
- R0230N-2
- R0240N-1
- R0250N
Columns
- C0570Gross earned premium up to and including the reporting reference date
- C0580Estimate of future gross earned premium at the reporting reference date
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}.
if count({t: IR.19.02.01.22, r: R0100; R0110; R0120; R0130; R0140; R0150; R0160; R0170; R0180; R0190; R0200; R0210; R0220; R0230; R0240; R0250, c: C0570; C0580, z: Z0001, filter: [s2c_dim:OC] != [s2c_CU:x0]}) >= 1 then count({t: IR.19.02.01.22, r: R0100; R0110; R0120; R0130; R0140; R0150; R0160; R0170; R0180; R0190; R0200; R0210; R0220; R0230; R0240; R0250, c: C0570; C0580, z: Z0001, filter: [s2c_dim:OC] = [s2c_CU:x0]}) >= 1 else true()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.