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    PRA Publishes Public Working Draft of XBRL Taxonomy 1.2.0 for Insurers

    July 13, 2020

    PRA published a public working draft, or PWD, of version 1.2.0 of the BoE Insurance XBRL taxonomy, along with the related technical artefacts. The update supports National Specific Templates, Internal Model Outputs, Market Risk Sensitivities, and Standard Formula reporting. BoE invites feedback, particularly from firms and software vendors, on the public working draft technical artefacts by July 27, 2020. BoE will aim to publish the final version of the taxonomy and data point model (DPM) in September 2020.

    The taxonomy, DPM dictionary, annotated templates, and validation rules represent the requirements within the Occasional Consultation Paper CP3/20. The taxonomy is aligned to EIOPA Solvency II Taxonomy 2.5 PWD. In CP3/20, PRA sets out the proposals to make minor amendments to PRA rules, supervisory statements, National Specific Templates and associated LOG files, and the market risk sensitivities data item and associated instructions. Release notes to this public working draft of the insurance taxonomy outline the following changes:

    • A new entry point "qls" has been added, splitting Quarterly Lloyd’s Solo reporting requirements from Annual Lloyd’s Solo reporting requirements. The "als" entry point has therefore also been updated.
    • A notation change has been made to document hierarchies, which include the root value across BoE taxonomies. This has no material impact and the label change has been highlighted in NS.11.01.01.
    • Only changes in the data dictionary where the owner is "boec," "boehd," or "boemd" have been highlighted using color coding. The full list of changes since UK Insurance Taxonomy 1.1 can be found in the published change log.
    • Color coding has been added to the validation rules Excel spreadsheet, with a key given on the "Note" worksheet. This color coding highlights the specific change made and should be reviewed alongside the "Last Change" column.
    • Internal Model Output validations boe_bv34 and boe_bv35 have been deleted and replaced with validations boe_bv226, boe_bv227, boe_bv228, and boe_bv229. As there is no one-to-one mapping this has not been indicated in the "Replaces" column.
    • Internal Model Output validations boe_bv148, boe_bv149, boe_bv150, boe_bv151, boe_bv152, and boe_bv153 have been re-expressed within the taxonomy package with the intention of reducing processing time. The function of these rules remains unchanged.
    • The arithmetic approach used for each validation rule is now indicated within the validations spreadsheet.


    Related Links

    Comment Due Date: July 27, 2020

    Keywords: Europe, UK, Insurance, Reporting, Solvency II, XBRL, Taxonomy 1.2.0, DPM, National Specific Templates, Technical Artefacts, CP3/20, PRA

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