[Property] Clarify value in BITIV as annualised in field description

[johcarter]

Description

The proposal is to update the BITIV field description to make clear the TIV is an annualised figure. The Period Of Indemnity 'BIPOI' default value is 365, meaning that the maximum sum insured is equal to the annualised BITIV. The BIPOI may be entered differently, but BITIV would remain as the annualised figure.
New description:
“Business Interruption (BI) Annualised Value, if POI is not 365 days please enter a valid value in BIPOI”

Reasons for change

This will make the relationship between BITIV and BIPOI clearer in the spec, as the BITIV could currently be interpreted as an annualised figure or a limit for a different POI.

Scope of change

• Location File
• Accounts File
• Reinsurance Scope
• Reinsurance Info
• [ X] Specification

Impact of change

None - this is just a field description update.

[aiste-kalinauskaite]

Good update to make the documentation clearer. Apologies for missing this in the first iteration of OED.

[johcarter]

thanks - will move to agreed and ready in OED v4

[johcarter]

Changed description to "Business Interruption (BI) Total Insured Value. Enter an annualized amount, and use LocDed4BI and LocLimit4BI fields for non-annualized values". as this is what people need to know to model the values correctly.