Overview

For an individual policy held by an insured, there can be one or many risks reported in a Bordereau. There may be a single row representing the total reporting of the risk, or there can be multiple rows which detail all of the locations/interests/coverage that are covered by the insured's policy. A frequent example is where multiple rows are reported for each of the locations covered by an insureds policy.

Below is an example of how a Bordereau may lay out the different risk entries. There are two risks with two different Risk References. Each has multiple locations represented by different records in the Bordereau. Certain fields, such as the Insured Name, are repeated, and differences, such as the address vary. In this example there is a Location ID field to uniquely identify each location, but this is often not provided.

In Tide, we term multiple records of the same Risk Reference as Sub-Risks, whether they are locations, ships, sections or any other breakdown of the insured's policy. When processing Bordereau data which contain Sub-Risks, it is important that they are correctly identified, so that when updates (such as an endorsement) are received they are allocated to the correct Sub-Risk for update.

Recording Sub-Risks in Tide

Sub-Risks in Tide are identified by using the field Sub-Risk Identifier. The field is populated through answering the question 'Are multiple risks reported for each insured's policy?', which is in step 4 of the Risk and Premium Questionnaires, and the question 'Are there column(s) in the bordereau that specify Sub-Risks of the insured's policy?', which is in step 7 of the Claim Questionnaire.

If you answer Yes to either of the above questions, then you are asked to specify which Bordereau column(s) uniquely identify each Sub-Risk. This would ideally be an ID field, such as Location ID. But if this isn't provided in the Bordereau, then any other column or columns (you can select multiple columns when answering this question) can be selected to do this. For example, you might select the street address columns.

Updating Sub-Risks in Tide

If the Sub-Risk field is populated, then Tide will always use this when identifying the correct record to update. For example, if an Endorsement is received in relation to a record in the above Bordereau example, then Tide will find the record to update by matching both the Risk Reference and Sub-Risk Identifier (Location ID in the above example).