RAC Cover File & Data Processes

3.1 Transaction flags As we are asking you to send us delta files, we need to ensure that we can interpret the transactions that each line on the file represents. The table below details the transaction flags that should be sent, and when each should be used, including any additional information or accompanying data that is specific to each type of transaction.

Transaction Description

Flag

Should be used when...

Accompanying Data

Retail Sold Price should ALWAYS be sent with an “A” transaction The cover start date should ALWAYS be presented as the original cover start (inception) date of the asset

Notifying RAC of a new asset to go on cover

A

Add

Notifying RAC of an update or amendment to an existing asset – one that you have previously sent us an “A” record for. The “A” record can be contained in the same cover file, as long as it precedes the “U” in terms of row order. Notifying RAC of a cancellation that is to take immediate effect and that, where appropriate, will invoke any cancellation rights

U

Update

D

Delete

N/A

Retail Sold Price should ALWAYS be sent with an “R” transaction

Notifying RAC that an existing policy and its associated asset(s) should be renewed.

R

Renew

All of the Above

Should only be used when sending us a DELTA cover file

Full Refresh Files - Did You Know...

Delta files are our preferred type of cover files. If you cannot send us delta files, we can accept full refresh files: • Full refresh files should contain all the assets covered at the file creation date. • Each asset should only appear once with a corresponding UAI • LAIs should be used to indicate all assets covered under multi-asset policy

• The “Transaction Flag” field should not be used See Section 8 for examples of total refresh cover files

9

Go Home