Risk and Risk & Premium Bordereaux contain both initial records (i.e. a New or Renewal Risk), as well as updates (e.g. Endorsements or Cancellations).
It is essential that update records are applied in a logically correct order. In Tide, if a Transaction Type is supplied, then certain life-cycle validation checks are performed.
In the below table, each of these validation rules are set out. The Error Name is the title of the error screen where any validation errors are presented.
| Validation Rule | Rule Definition | Error Name |
| Cancellation(s) must update an existing risk |
Validate that a Cancellation record has an existing risk to cancel. A valid risk will have a latest Transaction Type of New, Renewal, Endorsement, or Reinstatement. |
Cancellation(s) which do not have entries to update |
| Reinstatement(s) must update an existing cancelled risk |
Validate that a Reinstatement record has an existing risk to reinstate. A valid risk will have a latest Transaction Type of Cancellation. |
Reinstatement(s) which do not have Cancellation entries to update |
| Endorsement(s) must update an existing risk |
Validate that an Endorsement record has an existing risk to update. A valid risk will have a latest Transaction Type of New, Renewal, Endorsement, or Reinstatement. |
Endorsement(s) which do not have New or Renewal entries to update |
| A New or Renewal record cannot be received against the same risk more than once. |
Validate that no duplicate New or Renewal risks have been received. Once a risk has been reported as New or Renewal, then it can only be updated subsequently using an Endorsement, Cancellation, or Reinstatement record. |
New or Renewal entries which already exist |
| Life-cycle error due to change in use of Risk Inception Date in life-cycle validation |
Risk Inception Date was previously used in life-cycle validation (e.g. an Endorsement against a risk not previously received) when processing against this Contract. Subsequently, Risk Inception Date was changed to not be used, and as a result, Tide has duplicate records that this update could relate to. |
Life-cycle error due to change in use of Risk Inception Date in life-cycle validation |