Asset Related Details

The following sections describe the OED specification for the asset value, usage, construction, and other modifiers that can influence the susceptibility of an asset to damage from a peril. Coverage total insurable value (TIV)

Total insurable value (TIV) for each property is captured in four location level fields:

• BuildingTIV: The total insurable value of the buildings.

• ContentsTIV: The total insurance value of contents and stock.

• BITIV: The total business interruption, or other time related, total insurable value.

• OtherTIV: The total insurable value for elements other than the main building / contents / time elements. Typically used to represent the TIV for outbuildings / ap

Total insurable value is not peril dependent. The currency of the TIV is specified in the LocCurrency field.

Occupancy Type

Occupancy codes are stored in the OccupancyCode field. The occupancy type list is predominantly a one to one mapping from the AIR CEDE occupancy codes, although some extra codes have been added. The broad categories of code and the number ranges are shown in the table below.

OED Occupancy Code Range	Broad Category of Occupancy
1000	Unknown
1050 – 1099	Residential
1100 – 1149	Commercial
1150 – 1199	Industrial
1200 – 1249	Religion / Government / Education
1250 – 1299	Transportation
1300 – 1349	Utilities
1350 – 1399	Miscellaneous
2000 – 2799	Industrial Facility
3000 – 3999	Offshore

Although the code ranges above infer an extremely long list of codes there are less than 200 distinct occupancy codes in total. Yachts and automobiles are included under construction type codes rather than occupancy codes. Some users may have translated from a different (original) occupancy code to the OED occupancy code but would like to store the original occupancy code information. This can be done using the OrgOccupancyScheme and OrgOccupancyCode fields.

Construction Type

Construction codes are stored in the ConstructionCode field. The construction type list is predominantly a one to one mapping from the AIR CEDE construction codes, although some extra codes have been added. The broad categories of code and the number ranges are shown in table below.

OED Construction Code Range	Broad Category of Construction
5000	Unknown
5050 – 5099	Wood
5100 – 5149	Masonry
5150 – 5199	Concrete
5200 – 5249	Steel
5250 – 5299	Composite
5300 – 5349	Special
5350 – 5399	Mobile Homes
5400 – 5449	Bridges
5450 – 5499	Roads, Railroads, Runways
5500 – 5549	Dams
5550 – 5599	Tunnels
5600 – 5649	Storage Tanks
5650 – 5699	Pipelines
5700 – 5749	Chimneys
5750 – 5799	Towers
5800 – 5849	Equipment
5850 – 5899	Automobiles
5900 – 5949	Yachts
5950 – 5999	Miscellaneous
6000 – 6099	Marine Cargo General
6100 – 6149	Marine Cargo Combustible
6150 – 6199	Marine Cargo Non-Combustible
7000 - 7999	Offshore

Although the code ranges above infer a very long list of codes there are less than 200 construction codes in total. Some users may have translated from a different (original) construction code scheme to the OED construction code scheme but would like to store the original construction code information. This can be done using the OrgConstructionScheme and OrgConstructionCode fields.

Other Common Modifiers

While different catastrophe models will use different modifiers to adjust the vulnerability of an asset, the following are the most commonly used modifiers:

• YearBuilt: the year the building was built. YearUpgraded, RoofYearBuil are also modifiers that allow the user to add additional information.

• NumberOfStoreys: The total number of storeys in a building. BuildingHeight is also available for the user to add in the precise height of the building if this is known. FloorsOccupied allows the specific floors in the building that are occupied to be specified.

• NumberOfBuildings: The number of buildings represented by this location. This is commonly used to indicate the presence of aggregated data. If, instead, a user has specific details about different locations, but wants to denote a linkage of some kind between each location then the LocGroup field can be used to link individual locations (either for reporting purposes or to define a reinsurance ‘risk’ level). CorrelationGroup can be used to denote a correlation in secondary uncertainty between groups of locations.

• FloorArea & FloorAreaUnit: The total floor area occupied, summing the area of multiple floors.

Other modifiers, either peril specific or less commonly used by models, are available and are listed in the specification spreadsheet. They can be identified by filtering on the SecMod column in the ‘OED Input Fields’ sheet in the specification spreadsheet.

Flexi-tables

Despite the wide range of fields available in OED, there is always the possibility that a user needs to enter or store information without a corresponding OED field. This can be achieved through the flexi-table functionality within OED, which essentially provides a key-value pair back end table at the main hierarchical levels. To enter additional field / values, a user can enter additional columns: FlexiLocZZZ, FlexPolZZZ, FlexiAccZZZ, where ‘ZZZ’ contains the name of the new field. For example, if a user wants to store information on house colour, they could add an additional column to the location input file with the fieldname FlexiLocHouseColour.