Tide has three different Bordereau Types that relate to risk and premium reporting (there is an additional Claims Bordereau Type). These are:

Risk - This Bordereau contains details of the risks that have been written. The Gross Premium field indicates the total Gross Premium of the policy issued to the Insured.

Premium - This Bordereau contains details of payments that are to be made in relation to risks that have been written. The Gross Premium field indicates the Gross Premium that is going to be paid.

Risk & Premium - This Bordereau contains details of the risks that have been written AND that are to be paid in full. The Gross Premium field therefore indicates BOTH the total Gross Premium of the policy issued to the insured and the Gross Premium that is going to be paid.

It is crucial that Bordereau submissions are a correct fit for each type, so that the data is consistently interpreted by all users of Tide.

The division between Risk and Premium data fields

In Tide, there is a single set of field names used for both Risk and Premium reporting. Some of these fields relate to Risk and Premium reporting, some just Risk, and some just Premium. This can be seen in the below diagram, where ‘Risk Inception Date’ is used in both Risk and Premium Reporting, ‘Number of Vehicles’ is just used for Risk, and ‘Net Premium (Coverholder Settlement Currency)’ is just used for Premium reporting.