From 4bb2c7400479e0ca1074c2b08908a3c6464e8069 Mon Sep 17 00:00:00 2001 From: Joh Carter Date: Wed, 10 Jul 2024 12:52:50 +0100 Subject: [PATCH] #194 added ids to coverages and explanatory notes for classes of business --- Docs/Notes.rst | 43 +++++++++++++++++++++++++++++ OpenExposureData/CoverageValues.csv | 17 ++++++++++++ 2 files changed, 60 insertions(+) create mode 100644 OpenExposureData/CoverageValues.csv diff --git a/Docs/Notes.rst b/Docs/Notes.rst index 761b16bc..ea010102 100644 --- a/Docs/Notes.rst +++ b/Docs/Notes.rst @@ -41,6 +41,49 @@ Examples of combining peril codes: | +Coverage Values +############### + +| + +There are explicit coverage codes in OED for property and cyber classes of business. + +**Property** + +For property insurance policies, 1Building, 2Other, 3Contents and 4BI are covered under a policy if a value greater than zero is entered into the fields BuildingTIV, OtherTIV, ContentsTIV, BITIV, respectively. + +Any deductibles and limits that apply to these coverages are specified using the financial fields with the coverage codes embedded in the field names. e.g. PolDed1Building. + +**Cyber** + +For cyber insurance policies, coverage should be specified using the 'PolCoverage' field. Multiple coverages are indicated by entering a semi-colon-separated list as shown in the examples table. + +| + +**Examples** +| + +.. csv-table:: + :widths: 30,25 + :header: "Example", "PolCoverage" + + "Single coverage","EXT" + "Multiple coverages", "BI;CBI;DIAS;EXT;REG" + "All cyber coverages", "CYB" + + +| + +If the PolCoverage field is not present, the default value is 'CYB', i.e. the policy covers all cyber coverages. + +Any deductibles and limits that apply to specific coverages are specified using the financial fields with the coverage codes embedded in the field names. e.g. PolDedEXT. + +**Liability** + +Liability insurance policies do not have explicit coverage codes in OED. Instead the liability coverage should be described using the CoverageClassDescription field, which is a required feild. The coverage of defense costs may be specified using the DefenceCost field. + +| + Conditionally Required (CR) fields ################################## diff --git a/OpenExposureData/CoverageValues.csv b/OpenExposureData/CoverageValues.csv new file mode 100644 index 00000000..e0109b4c --- /dev/null +++ b/OpenExposureData/CoverageValues.csv @@ -0,0 +1,17 @@ +"CoverageID","CoverageCode","Description","Type","1st/3rd party" +"1","1Building","Structure","Property","n/a" +"2","2Other","Other structure","Property","n/a" +"3","3Contents","Contents","Property","n/a" +"4","4BI","Business interruption or time element (property)","Property","n/a" +"5","5PD","Property Damage (1-3 combined)","Property","n/a" +"6","6All","All property coverages (1-4 combined)","Property","n/a" +"7","BI","Business Interruption (non-property)","Cyber","1st" +"8","CBI","Contingent Business Interruption","Cyber","1st" +"9","DIAS","Digital Assets (data, software and/or hardware recovery/replacement)","Cyber","1st" +"10","EXT","Extortion (ransom amounts, negotiation fees, reward payments)","Cyber","1st" +"11","FIN","Financial Fraud - Theft of electronic funds, goods, services","Cyber","1st" +"12","INRE","Incident Response (IT Forensics, response obligations assessment, public relations, notifications and customer relations, monitoring services)","Cyber","1st" +"13","LIAB","Liability - 3rd party cyber liability (e.g. Network security, privacy, media) and directly associated costs (e.g legal defence costs)","Cyber","3rd" +"14","REG","Regulatory and payment card industry (PCI) fines and proceedings","Cyber","3rd" +"15","ENO","Errors & Omissions/Professional indemnity liability","Cyber","E&O" +"16","CYB","All Cyber coverages","Cyber","n/a"