[Property] MRI new codes

[IPE-Pierre]

Description

MRI is a property LOB in France Residential standing for MultiRisque Immeuble or All Risk "building"

It's for flats, there are 3 covers :

1. Renter covering Contents essentially
2. CoPropropriétaire as CoOwners for Flats covering mainly Building cover (and some contents) but up to a certain amount
3. CoPropriété as Group of Coowners covering mainly Common Areas / Roof and main building structure.

TO DATE WE MAPPED ALL EXPOSURE TO FOLLOWING CODE :

There is a unique Code while there massive heterogeneity of exposure also not covered by crossing Construction.

1. MONO vs MULTI : a contract covering a single block vs a contract covering several blocks sometimes more than 10.

Reasons for change

MULTI are indeed very high SI bringing very high loss

Scope of change

• [X ] Location File

Impact of change

NEW OCCUPANCY CODE FOR MULTI BLOCKS

[MattDonovan82]

@IPE-Pierre to avoid duplication, are you sure your requirements cannot be covered by the current occupancy codes - such as 1057 for "renter" and 1055 for "apartments/condo" and as you mentioned 1058 that you are already using?

Although adding new codes is fine in theory, these are specific to France and we don't want to start adding too many country-specific occupancy codes because of duplication and possible ambiguity.

Thoughts @johcarter @aiste-kalinauskaite @benhayes21 ?

[IPE-Pierre]

All other residential codes are used... It's really for MRI whether they are blocks of buildings or single unit. Not sure it's a french specific...

[MattDonovan82]

so how many new occ codes are you suggesting? @IPE-Pierre

[IPE-Pierre]

I think I could deal with adding one... The current would be maintained as single or small block the new one being for large or medium/large block

[MattDonovan82]

ok. As long as no current codes can support this, it shouldn't be a problem adding one new code.

[MattDonovan82]

any other comments here? @johcarter @benhayes21?

[johcarter]

Yes, could we have a detailed proposal please, with code and description as it should appear in the spec.

[MattDonovan82]

@IPE-Pierre can you please propose the additional field(s) here so we know what to include in the update?

[IPE-Pierre]

Hello That would results in a modifying 1058 as well

id : 1058
name : Single Unit Residential Apartment/Condo Asso, Common Areas
description : Common areas of a Single Unit Apartment/ Condominium that is shared with all the other residents, like the roof, elevator, basement, courtyards or walkways, pools, common gym or event space, parks etc.

id : new ID
name: Large or Multiple Unit Residential Apartment/Condo Asso, Common Areas
description : Common areas of a Large or Multiple Unit Apartment/ Condominium that is shared with all the other residents, like the roof, elevator, basement, courtyards or walkways, pools, common gym or event space, parks etc.

[MattDonovan82]

Hi @IPE-Pierre we are reluctant to modify existing codes as this will result in a 'major' update and be very disruptive. I think even modifying the descriptions would result in some disruption and potentially cause some confusion with other users between codes for similar single occupancy dwellings such as 1051 and 1055. Adding new codes are only 'minor' updates and not disruptive so this would be the preferred option at this stage.

I'm not sure your new suggested code is that different to the current 1058 for 'Residential Apartment/Condo Asso, Common Areas'. The description you propose above is very similar so I still question the need for this new code - are you sure MRI just cant fall within 1058?

Thoughts @johcarter ?