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Financial Sector (Collection of Data) (reporting standard) determination No. 2 of 2021
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Financial Sector (Collection of Data) (reporting standard) determination No. 2 of 2021
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 2 of 2021.
| General Nature of Loss | Code |
|---|---|
| Bodily injury or death | B |
| Property damage only | P |
| Financial loss only (no physical damage or bodily injury) | F |
| Both property damage and bodily injury | L |
| Both bodily injury and financial loss | X |
| Both property damage and financial loss | Y |
| Property damage, bodily injury and financial loss | Z |
If a claim is comprised of more than one general nature of loss field type (i.e. P (property damage) and B (bodily injury)), then a claim may only be coded as L, X, Y or Z if the relevant component is greater than 15% of the claim amount.