Financial Sector (Collection of Data) determination No. 30 of 2005
Appendix C: Data ValidationAppendix C: Data Validation
Start here
Get a plain-English read of Appendix C: Data Validation
Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) determination No. 30 of 2005.
Appendix C: Data Validation
As well as unit record validation, overall reasonability checks will be carried out on each insurer’s data.
With each half-yearly data submission
Various comparisons between the current reporting period and the previous period will be carried out in order to monitor data reasonability and consistency. These may include:
- Change in the aggregate Gross Earned Premium, split by two digit ANZSIC code or single character occupation code;
- Changes in the total numbers of policies and claims;
- Counts of claims by various measures; causes of loss, severity or litigation status; and
- Changes in the average and total claims paid.
As well, various reasonability checks will be carried out within each period submission, including;
- Overuse of the various ‘Other’ categories and codes; and
- Comparison of the various premium fields against each other.
Other reasonability checks may be carried out on an ad hoc basis.