{"id":"F2005L01665","name":"Financial Sector (Collection of Data) determination No. 25 of 2005","slug":"financial-sector-collection-of-data-determination-no-25-of-2005","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":35696,"registerId":"commonwealth-F2005L01665-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard GRS 420.0 (2005)","sectionType":"part","heading":"Reporting Standard GRS 420.0 (2005)","content":"## Reporting Standard GRS 420.0 (2005)","sortOrder":0},{"sectionNumber":"Premium Revenue by State and Territory o","sectionType":"part","heading":"Premium Revenue by State and Territory of Australia","content":"# Premium Revenue by State and Territory of Australia\n\n### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers (foreign insurers) operating in Australia through branch operations, to report to APRA, generally on an annual basis, information on the diversification of underwriting business within each State and Territory of Australia.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with:\n\n-   Form GRF 420.0 Premium Revenue by State and Territory of Australia (Form GRF 420.0) and the associated instructions (all of which are attached and form part of this reporting standard).\n\n# Purpose\n\n1.  Data collected in Form GRF 420.0 is used by APRA on behalf of the Australian Bureau of Statistics (ABS). APRA will use this information to monitor the source and diversification/concentration of underwriting business in the States and Territories of Australia.\n\n# Application and commencement\n\n2. This reporting standard applies to all insurers, other than authorised reinsurers, and shall begin to apply to those entities on the later of 1 July 2005 and the date of registration on the Federal Register of Legislative Instruments.\n\n# Information required\n\n3. An insurer must provide APRA with the information required by Form GRF 420.0 for each reporting period.\n\n# Forms and method of submission\n\n4. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or\n\n(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.\n\nNote: the Direct to APRA application software and paper forms may be obtained from APRA.\n\n# Reporting periods and due dates\n\n5. Subject to paragraph 6, an insurer must provide the information required by this reporting standard in respect of each financial year (within the meaning of the Corporations Act 2001) of the insurer.\n\nNote: APRA proposes to determine exemptions, under section 7 of the Insurance Act 1973 (Insurance Act), from the obligations under Part IV Division 4 of the Insurance Act in respect of the auditing of information provided under this reporting standard.\n\n6. APRA may, by notice in writing, change the reporting periods, or specified reporting periods for a particular insurer to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the insurer, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the insurer); or\n\n(b) less frequently (if, having regard to the particular circumstances of the insurer and the extent to which it requires prudential supervision, APRA considers it unnecessary to require the insurer to provide the information as frequently as provided by paragraph 5).\n\n7. The information required by paragraph 3 of this reporting standard must be provided to APRA 4 months after the end of the reporting period to which the information relates.\n\n8. APRA may grant an insurer an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\n# Authorisation\n\n9. The information provided by an insurer under this reporting standard must be subject to processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n10. If an insurer submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the insurer to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the insurer who have authority from the insurer to transmit the data to APRA.\n\n11. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer (whatever his or her official title may be).\n\n# Minor alterations to forms and instructions\n\n12. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n> 13. If APRA makes such a variation it must notify general insurers in writing.\n\nTransitional\n\n14. If a reporting period of an insurer ended on 30 June 2005, or ends after that date, the insurer must report under this reporting standard in respect of that reporting period.\n\n  \nInterpretation\n\n15. In this reporting standard:\n\nauthorised reinsurer means an insurer whose business consists only of undertaking liability by way of reinsurance;\n\napproved auditor means an auditor who has been approved by APRA under section 40 of the Insurance Act;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of the Insurance Act;\n\nNote: In the forms and instructions, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer.\n\n# Principal Executive Officer means the principal executive officer of the insurer for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;\n\n# reporting period means a period mentioned in paragraph 5 or, if applicable, paragraph 6.","sortOrder":1},{"sectionNumber":"Objective of this reporting standard","sectionType":"division","heading":"Objective of this reporting standard","content":"### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers (foreign insurers) operating in Australia through branch operations, to report to APRA, generally on an annual basis, information on the diversification of underwriting business within each State and Territory of Australia.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with:\n\n-   Form GRF 420.0 Premium Revenue by State and Territory of Australia (Form GRF 420.0) and the associated instructions (all of which are attached and form part of this reporting standard).","sortOrder":2},{"sectionNumber":"Purpose","sectionType":"part","heading":"Purpose","content":"# Purpose\n\n1.  Data collected in Form GRF 420.0 is used by APRA on behalf of the Australian Bureau of Statistics (ABS). APRA will use this information to monitor the source and diversification/concentration of underwriting business in the States and Territories of Australia.","sortOrder":3},{"sectionNumber":"Application and commencement","sectionType":"part","heading":"Application and commencement","content":"# Application and commencement\n\n2. This reporting standard applies to all insurers, other than authorised reinsurers, and shall begin to apply to those entities on the later of 1 July 2005 and the date of registration on the Federal Register of Legislative Instruments.","sortOrder":4},{"sectionNumber":"Information required","sectionType":"part","heading":"Information required","content":"# Information required\n\n3. An insurer must provide APRA with the information required by Form GRF 420.0 for each reporting period.","sortOrder":5},{"sectionNumber":"Forms and method of submission","sectionType":"part","heading":"Forms and method of submission","content":"# Forms and method of submission\n\n4. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or\n\n(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.\n\nNote: the Direct to APRA application software and paper forms may be obtained from APRA.","sortOrder":6},{"sectionNumber":"Reporting periods and due dates","sectionType":"part","heading":"Reporting periods and due dates","content":"# Reporting periods and due dates\n\n5. Subject to paragraph 6, an insurer must provide the information required by this reporting standard in respect of each financial year (within the meaning of the Corporations Act 2001) of the insurer.\n\nNote: APRA proposes to determine exemptions, under section 7 of the Insurance Act 1973 (Insurance Act), from the obligations under Part IV Division 4 of the Insurance Act in respect of the auditing of information provided under this reporting standard.\n\n6. APRA may, by notice in writing, change the reporting periods, or specified reporting periods for a particular insurer to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the insurer, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the insurer); or\n\n(b) less frequently (if, having regard to the particular circumstances of the insurer and the extent to which it requires prudential supervision, APRA considers it unnecessary to require the insurer to provide the information as frequently as provided by paragraph 5).\n\n7. The information required by paragraph 3 of this reporting standard must be provided to APRA 4 months after the end of the reporting period to which the information relates.\n\n8. APRA may grant an insurer an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.","sortOrder":7},{"sectionNumber":"Authorisation","sectionType":"part","heading":"Authorisation","content":"# Authorisation\n\n9. The information provided by an insurer under this reporting standard must be subject to processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n10. If an insurer submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the insurer to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the insurer who have authority from the insurer to transmit the data to APRA.\n\n11. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer (whatever his or her official title may be).","sortOrder":8},{"sectionNumber":"Minor alterations to forms and instructi","sectionType":"part","heading":"Minor alterations to forms and instructions","content":"# Minor alterations to forms and instructions\n\n12. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n> 13. If APRA makes such a variation it must notify general insurers in writing.\n\nTransitional\n\n14. If a reporting period of an insurer ended on 30 June 2005, or ends after that date, the insurer must report under this reporting standard in respect of that reporting period.\n\n  \nInterpretation\n\n15. In this reporting standard:\n\nauthorised reinsurer means an insurer whose business consists only of undertaking liability by way of reinsurance;\n\napproved auditor means an auditor who has been approved by APRA under section 40 of the Insurance Act;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of the Insurance Act;\n\nNote: In the forms and instructions, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer.","sortOrder":9},{"sectionNumber":"Principal Executive Officer means the pr","sectionType":"part","heading":"Principal Executive Officer means the principal executive officer of the insurer for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;","content":"![](image.001.png)\n\n## Reporting Standard GRS 420.0 (2005)\n\n# Premium Revenue by State and Territory of Australia\n\n### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers (foreign insurers) operating in Australia through branch operations, to report to APRA, generally on an annual basis, information on the diversification of underwriting business within each State and Territory of Australia.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with:\n\n-   Form GRF 420.0 Premium Revenue by State and Territory of Australia (Form GRF 420.0) and the associated instructions (all of which are attached and form part of this reporting standard).\n\n# Purpose\n\n1.  Data collected in Form GRF 420.0 is used by APRA on behalf of the Australian Bureau of Statistics (ABS). APRA will use this information to monitor the source and diversification/concentration of underwriting business in the States and Territories of Australia.\n\n# Application and commencement\n\n2. This reporting standard applies to all insurers, other than authorised reinsurers, and shall begin to apply to those entities on the later of 1 July 2005 and the date of registration on the Federal Register of Legislative Instruments.\n\n# Information required\n\n3. An insurer must provide APRA with the information required by Form GRF 420.0 for each reporting period.\n\n# Forms and method of submission\n\n4. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or\n\n(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.\n\nNote: the Direct to APRA application software and paper forms may be obtained from APRA.\n\n# Reporting periods and due dates\n\n5. Subject to paragraph 6, an insurer must provide the information required by this reporting standard in respect of each financial year (within the meaning of the Corporations Act 2001) of the insurer.\n\nNote: APRA proposes to determine exemptions, under section 7 of the Insurance Act 1973 (Insurance Act), from the obligations under Part IV Division 4 of the Insurance Act in respect of the auditing of information provided under this reporting standard.\n\n6. APRA may, by notice in writing, change the reporting periods, or specified reporting periods for a particular insurer to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the insurer, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the insurer); or\n\n(b) less frequently (if, having regard to the particular circumstances of the insurer and the extent to which it requires prudential supervision, APRA considers it unnecessary to require the insurer to provide the information as frequently as provided by paragraph 5).\n\n7. The information required by paragraph 3 of this reporting standard must be provided to APRA 4 months after the end of the reporting period to which the information relates.\n\n8. APRA may grant an insurer an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\n# Authorisation\n\n9. The information provided by an insurer under this reporting standard must be subject to processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n10. If an insurer submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the insurer to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the insurer who have authority from the insurer to transmit the data to APRA.\n\n11. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer (whatever his or her official title may be).\n\n# Minor alterations to forms and instructions\n\n12. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n> 13. If APRA makes such a variation it must notify general insurers in writing.\n\nTransitional\n\n14. If a reporting period of an insurer ended on 30 June 2005, or ends after that date, the insurer must report under this reporting standard in respect of that reporting period.\n\n  \nInterpretation\n\n15. In this reporting standard:\n\nauthorised reinsurer means an insurer whose business consists only of undertaking liability by way of reinsurance;\n\napproved auditor means an auditor who has been approved by APRA under section 40 of the Insurance Act;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of the Insurance Act;\n\nNote: In the forms and instructions, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer.\n\n# Principal Executive Officer means the principal executive officer of the insurer for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;\n\n# reporting period means a period mentioned in paragraph 5 or, if applicable, paragraph 6.","sortOrder":10},{"sectionNumber":"reporting period means a period mentione","sectionType":"part","heading":"reporting period means a period mentioned in paragraph 5 or, if applicable, paragraph 6.","content":"![](image.001.png)\n\n## Reporting Standard GRS 420.0 (2005)\n\n# Premium Revenue by State and Territory of Australia\n\n### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers (foreign insurers) operating in Australia through branch operations, to report to APRA, generally on an annual basis, information on the diversification of underwriting business within each State and Territory of Australia.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with:\n\n-   Form GRF 420.0 Premium Revenue by State and Territory of Australia (Form GRF 420.0) and the associated instructions (all of which are attached and form part of this reporting standard).\n\n# Purpose\n\n1.  Data collected in Form GRF 420.0 is used by APRA on behalf of the Australian Bureau of Statistics (ABS). APRA will use this information to monitor the source and diversification/concentration of underwriting business in the States and Territories of Australia.\n\n# Application and commencement\n\n2. This reporting standard applies to all insurers, other than authorised reinsurers, and shall begin to apply to those entities on the later of 1 July 2005 and the date of registration on the Federal Register of Legislative Instruments.\n\n# Information required\n\n3. An insurer must provide APRA with the information required by Form GRF 420.0 for each reporting period.\n\n# Forms and method of submission\n\n4. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or\n\n(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.\n\nNote: the Direct to APRA application software and paper forms may be obtained from APRA.\n\n# Reporting periods and due dates\n\n5. Subject to paragraph 6, an insurer must provide the information required by this reporting standard in respect of each financial year (within the meaning of the Corporations Act 2001) of the insurer.\n\nNote: APRA proposes to determine exemptions, under section 7 of the Insurance Act 1973 (Insurance Act), from the obligations under Part IV Division 4 of the Insurance Act in respect of the auditing of information provided under this reporting standard.\n\n6. APRA may, by notice in writing, change the reporting periods, or specified reporting periods for a particular insurer to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the insurer, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the insurer); or\n\n(b) less frequently (if, having regard to the particular circumstances of the insurer and the extent to which it requires prudential supervision, APRA considers it unnecessary to require the insurer to provide the information as frequently as provided by paragraph 5).\n\n7. The information required by paragraph 3 of this reporting standard must be provided to APRA 4 months after the end of the reporting period to which the information relates.\n\n8. APRA may grant an insurer an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\n# Authorisation\n\n9. The information provided by an insurer under this reporting standard must be subject to processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n10. If an insurer submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the insurer to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the insurer who have authority from the insurer to transmit the data to APRA.\n\n11. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer (whatever his or her official title may be).\n\n# Minor alterations to forms and instructions\n\n12. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n> 13. If APRA makes such a variation it must notify general insurers in writing.\n\nTransitional\n\n14. If a reporting period of an insurer ended on 30 June 2005, or ends after that date, the insurer must report under this reporting standard in respect of that reporting period.\n\n  \nInterpretation\n\n15. In this reporting standard:\n\nauthorised reinsurer means an insurer whose business consists only of undertaking liability by way of reinsurance;\n\napproved auditor means an auditor who has been approved by APRA under section 40 of the Insurance Act;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of the Insurance Act;\n\nNote: In the forms and instructions, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer.\n\n# Principal Executive Officer means the principal executive officer of the insurer for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;\n\n# reporting period means a period mentioned in paragraph 5 or, if applicable, paragraph 6.","sortOrder":11},{"sectionNumber":"Reporting Form GRF 420.0","sectionType":"part","heading":"Reporting Form GRF 420.0","content":"## Reporting Form GRF 420.0\n\n## Premium Revenue by State and Territory of Australia\n\n### Instruction Guide\n\n#### Introduction\n\nThis form captures data required by the Australian Bureau of Statistics. Premium revenue inside Australia is to be reported by, class of business for each state or territory of Australia, based on where the risk is located.\n\nAudit requirements\n\nThe information provided under the form is not required to be audited and has been exempted from the definition of ‘yearly statutory accounts’.\n\n# Reporting entities\n\nThis form is to be completed by:\n\n1.  Branch operations of a foreign parent insurer/reinsurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations); and\n2.  Authorised insurance (and reinsurance) entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity).\n\nUnit of measurement\n\nThis form is to be presented in Australian currency, rounded to thousands of dollars, with no decimal place.\n\n## Basis of preparation\n\nInsurers are requested to follow the recognition and measurement basis required by the APRA forms for the reporting of premium revenue in this form. Specifically premium revenue that is recognised in GRF 310.1 Premium Revenue and Reinsurance Expense.\n\nWhere the insurers operations are wholly within Australia, total premium revenue per this form should agree to the aggregate of premium revenue disclosed in GRF 310.1 Premium Revenue and Reinsurance Expense.\n\nDo not follow the recognition and measurement requirements for premium revenue contained in AASB 1023 ‘Financial Reporting for General Insurance Activities’.\n\n  \nReporting period\n\nInsurers are required to report the information in the reporting form on an annual basis.\n\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.\n\n## Reporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in the Reporting Requirements table.\n\n###   \nSpecific instructions\n\n###### Premium Revenue - Each State and Territory\n\nReport premium revenue Inside Australia according to where the risk is located.\n\nThis is the premium revenue as required by the APRA forms (refer to instructions GRF 310.1 Premium Income and Reinsurance Expense). In this context premium revenue will be recognised fully when written. Premium revenue is not to be reported in accordance with AASB 1023 ‘Financial Reporting of General Insurance Activities’ (i.e. earned and unearned components).\n\nPremium revenue is to be recognised in line with the following:\n\n-   Premium revenue is to be recognised fully upfront when the business is written (i.e. at the attachment date) as soon as the amount can be reliably measured. For reasons of practicality, attachment date may be determined in accordance with the provisions of AASB 1023 i.e. many insurers may use a basis of recognition that attempts to approximate this date. These bases are predicated on assumptions; for example, a direct insurer may assume that risk attaches to all policies from the middle of the month in which they are written, and a reinsurer may assume, in relation to premiums ceded to it, that risk attaches from the assumed attachment date of the underlying direct insurance policies or of the indemnity periods. Such bases are acceptable provided that they do not result in the recognition of a materially different amount of premium revenue in a particular financial year than would be the case if recognition occurred from the date of attachment of risk for each policy;\n-   Premium revenue will need to be discounted where premium revenue under an insurance contract is to be received beyond the current year of cover. In these instances use discount rates as required in measuring claims liabilities in accordance with GPS 210 Liability Valuation for General Insurers;\n-   Premiums written is only to be recognised as revenue when the insurer is on risk for the insurance cover provided (i.e. contract for insurance);\n-   Premium revenue includes the value of future premium receipts under existing insurance contracts through to the end of the period insurance covered and is to reflect the probability of lapses or cancellations by policyholders and a measurement of cash flows from future renewals but only to the extent that the inclusion of renewals are uncancelable and are unfavourable to the insurer;\n-   Premium revenue excludes cash flows from future insurance contracts and investment returns from current or future investments;\n-   Premium revenue excludes amounts collected on behalf of third parties i.e. government stamp duty and taxes;\n-   Levies charged to customers are to be included as premium revenue such as fire service levies. Such levies are expenses of the insurer rather than government charges directly upon those insured. The amount paid by the insurer to government authorities does not depend on the amounts collected from those insured in relation to the levies and charges;\n-   Premiums refunds and rebates are to be deducted from premium revenue;\n-   For installment premium policies, the amount of the annualised premium is to be used;\n-   Where premium is calculated on an adjustment basis, the estimated annual premium is to be brought to account, with the estimated premium being replaced by the actual amount as it becomes known. Where premium is accepted on a deposit basis the full annual premium is to be brought to account; and\n-   Premium revenue must be gross of reinsurance expense.\n\nClasses of Insurance Business\n\n1.  Direct Business\n\nThe classes of business for companies that are not specialist reinsurers are as follows:\n\n(I). Houseowners/Householders (H & H)\n\nThis class covers the common H & H policies inclusive of:\n\n-   Contents;\n-   Personal property;\n-   Arson; and\n-   Burglary.\n\nPublic liability normally attaching to these products are to be separated and included in Public and Product Liability class of business – item 8.\n\n(II). Commercial Motor Vehicle\n\nMotor vehicle insurance (including third party property damage) other than insurance covering vehicles defined below under Domestic Motor Vehicle. It includes long and medium haul trucks, cranes and special vehicles and policies covering fleets.\n\n(III). Domestic Motor Vehicle\n\nMotor vehicle insurance (including third party property damage) covering private use motor vehicles including utilities and lorries, motor cycles, private caravans, box and boat trailers and other vehicles not normally covered by business or commercial policies.\n\n  \n\n(IV). Travel\n\nInsurance against losses associated with travel including loss of baggage and personal effects, losses on flight cancellations and overseas medical costs.\n\n(V). Fire and Industrial Special Risks (ISR)\n\nFire\n\nIncludes all policies normally classified as 'Fire' and includes:\n\n-   sprinkler leakage;\n-   subsidence;\n-   windstorm;\n-   hailstone;\n-   crop;\n-   arson; and\n-   loss of profits and any extraneous risk normally covered under fire policies, e.g. flood.\n\nISR\n\nStandard policy wordings exist for this type of policy. All policies which contain such standard wordings or where the wording is substantially similar are to be classified as ISR.\n\n(VI). Marine\n\nIncludes Marine Hull (including pleasure craft), Marine Cargo (including sea and inland transit insurance).\n\n(VII). Aviation\n\nAviation (including aircraft hull and aircraft liability).\n\n(VIII). Mortgage\n\nInsurance against losses arising from the failure of debtors to meet financial obligations to creditors or under which payment of debts is guaranteed. It includes lease guarantee.\n\n(IX). Consumer Credit (CCI)\n\nInsurance to protect a consumer's ability to meet the loan repayments on personal loans and credit card finance in the event of death or loss of income due to injury, illness or unemployment.\n\n(X). Other Accident\n\nIncludes the following types of insurance:\n\n-   Miscellaneous accident (involving cash in transit, theft, loss of money);\n-   All risks (baggage, sporting equipment, guns);\n-   Engineering when not part of ISR or Fire policy;\n-   Plate glass when not part of packaged policy (e.g. houseowners /householders)\n-   Guarantee (Insurance Bonds);\n-   Live Stock;\n-   Pluvius; and\n-   Sickness and Accident (which provides stated benefits where the insured is killed or suffers loss of specific parts of the body or is prevented from carrying out the insured’s normal occupation. In addition, regular benefits may be paid over a short period of time (typically less than 3 years), noting that continuous disability policies are now considered to be Life Insurance Policies and should not be provided by general insurance companies).\n\n(XI). Other\n\nAll other insurance business not specifically mentioned elsewhere. It includes, for example:\n\n-   All guarantees (e.g. fidelity Guarantee)\n-   Trade Credit;\n-   Extended Warranty (includes insurance by a third party for a period in excess of the manufacturer's or seller’s normal warranty);\n-   Kidnap and Ransom; and\n-   Contingency.\n\n(XII). Compulsory Third Party Motor Vehicle (CTP)\n\nThis class consists only of CTP business.\n\n(XIII). Public and Product Liability\n\n-   Public Liability covers legal liability to the public in respect of bodily injury or property damage arising out of the operation of the insured's business. Product Liability includes policies that provide for compensation for loss and or injury caused by, or as a result of, the use of goods and also environmental clean-up caused by pollution spills where not covered by Fire and ISR policies.\n-   Also will include builders warranty insurance.\n\n(XIV). Professional Indemnity (PI)\n\nIncludes Directors' and Officers' liability insurance plus legal expense insurance. Cover for legal expenses general included in this type of policy.\n\n(XV). Employers' Liability (EL)\n\nIncludes:\n\n-   Workers' compensation;\n-   Seamen's compensation; and\n-   Domestic workers compensation.\n\n2. Inwards Treaty\n\nIncludes the value of all reinsurance business in this line item.","sortOrder":12},{"sectionNumber":"Instruction Guide","sectionType":"division","heading":"Instruction Guide","content":"## Reporting Form GRF 420.0\n\n## Premium Revenue by State and Territory of Australia\n\n### Instruction Guide\n\n#### Introduction\n\nThis form captures data required by the Australian Bureau of Statistics. Premium revenue inside Australia is to be reported by, class of business for each state or territory of Australia, based on where the risk is located.\n\nAudit requirements\n\nThe information provided under the form is not required to be audited and has been exempted from the definition of ‘yearly statutory accounts’.\n\n# Reporting entities\n\nThis form is to be completed by:\n\n1.  Branch operations of a foreign parent insurer/reinsurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations); and\n2.  Authorised insurance (and reinsurance) entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity).\n\nUnit of measurement\n\nThis form is to be presented in Australian currency, rounded to thousands of dollars, with no decimal place.\n\n## Basis of preparation\n\nInsurers are requested to follow the recognition and measurement basis required by the APRA forms for the reporting of premium revenue in this form. Specifically premium revenue that is recognised in GRF 310.1 Premium Revenue and Reinsurance Expense.\n\nWhere the insurers operations are wholly within Australia, total premium revenue per this form should agree to the aggregate of premium revenue disclosed in GRF 310.1 Premium Revenue and Reinsurance Expense.\n\nDo not follow the recognition and measurement requirements for premium revenue contained in AASB 1023 ‘Financial Reporting for General Insurance Activities’.\n\n  \nReporting period\n\nInsurers are required to report the information in the reporting form on an annual basis.\n\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.\n\n## Reporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in the Reporting Requirements table.\n\n###   \nSpecific instructions\n\n###### Premium Revenue - Each State and Territory\n\nReport premium revenue Inside Australia according to where the risk is located.\n\nThis is the premium revenue as required by the APRA forms (refer to instructions GRF 310.1 Premium Income and Reinsurance Expense). In this context premium revenue will be recognised fully when written. Premium revenue is not to be reported in accordance with AASB 1023 ‘Financial Reporting of General Insurance Activities’ (i.e. earned and unearned components).\n\nPremium revenue is to be recognised in line with the following:\n\n-   Premium revenue is to be recognised fully upfront when the business is written (i.e. at the attachment date) as soon as the amount can be reliably measured. For reasons of practicality, attachment date may be determined in accordance with the provisions of AASB 1023 i.e. many insurers may use a basis of recognition that attempts to approximate this date. These bases are predicated on assumptions; for example, a direct insurer may assume that risk attaches to all policies from the middle of the month in which they are written, and a reinsurer may assume, in relation to premiums ceded to it, that risk attaches from the assumed attachment date of the underlying direct insurance policies or of the indemnity periods. Such bases are acceptable provided that they do not result in the recognition of a materially different amount of premium revenue in a particular financial year than would be the case if recognition occurred from the date of attachment of risk for each policy;\n-   Premium revenue will need to be discounted where premium revenue under an insurance contract is to be received beyond the current year of cover. In these instances use discount rates as required in measuring claims liabilities in accordance with GPS 210 Liability Valuation for General Insurers;\n-   Premiums written is only to be recognised as revenue when the insurer is on risk for the insurance cover provided (i.e. contract for insurance);\n-   Premium revenue includes the value of future premium receipts under existing insurance contracts through to the end of the period insurance covered and is to reflect the probability of lapses or cancellations by policyholders and a measurement of cash flows from future renewals but only to the extent that the inclusion of renewals are uncancelable and are unfavourable to the insurer;\n-   Premium revenue excludes cash flows from future insurance contracts and investment returns from current or future investments;\n-   Premium revenue excludes amounts collected on behalf of third parties i.e. government stamp duty and taxes;\n-   Levies charged to customers are to be included as premium revenue such as fire service levies. Such levies are expenses of the insurer rather than government charges directly upon those insured. The amount paid by the insurer to government authorities does not depend on the amounts collected from those insured in relation to the levies and charges;\n-   Premiums refunds and rebates are to be deducted from premium revenue;\n-   For installment premium policies, the amount of the annualised premium is to be used;\n-   Where premium is calculated on an adjustment basis, the estimated annual premium is to be brought to account, with the estimated premium being replaced by the actual amount as it becomes known. Where premium is accepted on a deposit basis the full annual premium is to be brought to account; and\n-   Premium revenue must be gross of reinsurance expense.\n\nClasses of Insurance Business\n\n1.  Direct Business\n\nThe classes of business for companies that are not specialist reinsurers are as follows:\n\n(I). Houseowners/Householders (H & H)\n\nThis class covers the common H & H policies inclusive of:\n\n-   Contents;\n-   Personal property;\n-   Arson; and\n-   Burglary.\n\nPublic liability normally attaching to these products are to be separated and included in Public and Product Liability class of business – item 8.\n\n(II). Commercial Motor Vehicle\n\nMotor vehicle insurance (including third party property damage) other than insurance covering vehicles defined below under Domestic Motor Vehicle. It includes long and medium haul trucks, cranes and special vehicles and policies covering fleets.\n\n(III). Domestic Motor Vehicle\n\nMotor vehicle insurance (including third party property damage) covering private use motor vehicles including utilities and lorries, motor cycles, private caravans, box and boat trailers and other vehicles not normally covered by business or commercial policies.\n\n  \n\n(IV). Travel\n\nInsurance against losses associated with travel including loss of baggage and personal effects, losses on flight cancellations and overseas medical costs.\n\n(V). Fire and Industrial Special Risks (ISR)\n\nFire\n\nIncludes all policies normally classified as 'Fire' and includes:\n\n-   sprinkler leakage;\n-   subsidence;\n-   windstorm;\n-   hailstone;\n-   crop;\n-   arson; and\n-   loss of profits and any extraneous risk normally covered under fire policies, e.g. flood.\n\nISR\n\nStandard policy wordings exist for this type of policy. All policies which contain such standard wordings or where the wording is substantially similar are to be classified as ISR.\n\n(VI). Marine\n\nIncludes Marine Hull (including pleasure craft), Marine Cargo (including sea and inland transit insurance).\n\n(VII). Aviation\n\nAviation (including aircraft hull and aircraft liability).\n\n(VIII). Mortgage\n\nInsurance against losses arising from the failure of debtors to meet financial obligations to creditors or under which payment of debts is guaranteed. It includes lease guarantee.\n\n(IX). Consumer Credit (CCI)\n\nInsurance to protect a consumer's ability to meet the loan repayments on personal loans and credit card finance in the event of death or loss of income due to injury, illness or unemployment.\n\n(X). Other Accident\n\nIncludes the following types of insurance:\n\n-   Miscellaneous accident (involving cash in transit, theft, loss of money);\n-   All risks (baggage, sporting equipment, guns);\n-   Engineering when not part of ISR or Fire policy;\n-   Plate glass when not part of packaged policy (e.g. houseowners /householders)\n-   Guarantee (Insurance Bonds);\n-   Live Stock;\n-   Pluvius; and\n-   Sickness and Accident (which provides stated benefits where the insured is killed or suffers loss of specific parts of the body or is prevented from carrying out the insured’s normal occupation. In addition, regular benefits may be paid over a short period of time (typically less than 3 years), noting that continuous disability policies are now considered to be Life Insurance Policies and should not be provided by general insurance companies).\n\n(XI). Other\n\nAll other insurance business not specifically mentioned elsewhere. It includes, for example:\n\n-   All guarantees (e.g. fidelity Guarantee)\n-   Trade Credit;\n-   Extended Warranty (includes insurance by a third party for a period in excess of the manufacturer's or seller’s normal warranty);\n-   Kidnap and Ransom; and\n-   Contingency.\n\n(XII). Compulsory Third Party Motor Vehicle (CTP)\n\nThis class consists only of CTP business.\n\n(XIII). Public and Product Liability\n\n-   Public Liability covers legal liability to the public in respect of bodily injury or property damage arising out of the operation of the insured's business. Product Liability includes policies that provide for compensation for loss and or injury caused by, or as a result of, the use of goods and also environmental clean-up caused by pollution spills where not covered by Fire and ISR policies.\n-   Also will include builders warranty insurance.\n\n(XIV). Professional Indemnity (PI)\n\nIncludes Directors' and Officers' liability insurance plus legal expense insurance. Cover for legal expenses general included in this type of policy.\n\n(XV). Employers' Liability (EL)\n\nIncludes:\n\n-   Workers' compensation;\n-   Seamen's compensation; and\n-   Domestic workers compensation.\n\n2. Inwards Treaty\n\nIncludes the value of all reinsurance business in this line item.","sortOrder":14},{"sectionNumber":"Introduction","sectionType":"subdivision","heading":"Introduction","content":"#### Introduction\n\nThis form captures data required by the Australian Bureau of Statistics. Premium revenue inside Australia is to be reported by, class of business for each state or territory of Australia, based on where the risk is located.\n\nAudit requirements\n\nThe information provided under the form is not required to be audited and has been exempted from the definition of ‘yearly statutory accounts’.","sortOrder":15},{"sectionNumber":"Reporting entities","sectionType":"part","heading":"Reporting entities","content":"# Reporting entities\n\nThis form is to be completed by:\n\n1.  Branch operations of a foreign parent insurer/reinsurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations); and\n2.  Authorised insurance (and reinsurance) entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity).\n\nUnit of measurement\n\nThis form is to be presented in Australian currency, rounded to thousands of dollars, with no decimal place.","sortOrder":16},{"sectionNumber":"Basis of preparation","sectionType":"part","heading":"Basis of preparation","content":"## Basis of preparation\n\nInsurers are requested to follow the recognition and measurement basis required by the APRA forms for the reporting of premium revenue in this form. Specifically premium revenue that is recognised in GRF 310.1 Premium Revenue and Reinsurance Expense.\n\nWhere the insurers operations are wholly within Australia, total premium revenue per this form should agree to the aggregate of premium revenue disclosed in GRF 310.1 Premium Revenue and Reinsurance Expense.\n\nDo not follow the recognition and measurement requirements for premium revenue contained in AASB 1023 ‘Financial Reporting for General Insurance Activities’.\n\n  \nReporting period\n\nInsurers are required to report the information in the reporting form on an annual basis.\n\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.","sortOrder":17},{"sectionNumber":"Reporting lag","sectionType":"part","heading":"Reporting lag","content":"## Reporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in the Reporting Requirements table.","sortOrder":18},{"sectionNumber":"Specific instructions","sectionType":"division","heading":"Specific instructions","content":"## Reporting Form GRF 420.0\n\n## Premium Revenue by State and Territory of Australia\n\n### Instruction Guide\n\n#### Introduction\n\nThis form captures data required by the Australian Bureau of Statistics. Premium revenue inside Australia is to be reported by, class of business for each state or territory of Australia, based on where the risk is located.\n\nAudit requirements\n\nThe information provided under the form is not required to be audited and has been exempted from the definition of ‘yearly statutory accounts’.\n\n# Reporting entities\n\nThis form is to be completed by:\n\n1.  Branch operations of a foreign parent insurer/reinsurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations); and\n2.  Authorised insurance (and reinsurance) entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity).\n\nUnit of measurement\n\nThis form is to be presented in Australian currency, rounded to thousands of dollars, with no decimal place.\n\n## Basis of preparation\n\nInsurers are requested to follow the recognition and measurement basis required by the APRA forms for the reporting of premium revenue in this form. Specifically premium revenue that is recognised in GRF 310.1 Premium Revenue and Reinsurance Expense.\n\nWhere the insurers operations are wholly within Australia, total premium revenue per this form should agree to the aggregate of premium revenue disclosed in GRF 310.1 Premium Revenue and Reinsurance Expense.\n\nDo not follow the recognition and measurement requirements for premium revenue contained in AASB 1023 ‘Financial Reporting for General Insurance Activities’.\n\n  \nReporting period\n\nInsurers are required to report the information in the reporting form on an annual basis.\n\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer. See the Reporting Requirements table for details.\n\n## Reporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in the Reporting Requirements table.\n\n###   \nSpecific instructions\n\n###### Premium Revenue - Each State and Territory\n\nReport premium revenue Inside Australia according to where the risk is located.\n\nThis is the premium revenue as required by the APRA forms (refer to instructions GRF 310.1 Premium Income and Reinsurance Expense). In this context premium revenue will be recognised fully when written. Premium revenue is not to be reported in accordance with AASB 1023 ‘Financial Reporting of General Insurance Activities’ (i.e. earned and unearned components).\n\nPremium revenue is to be recognised in line with the following:\n\n-   Premium revenue is to be recognised fully upfront when the business is written (i.e. at the attachment date) as soon as the amount can be reliably measured. For reasons of practicality, attachment date may be determined in accordance with the provisions of AASB 1023 i.e. many insurers may use a basis of recognition that attempts to approximate this date. These bases are predicated on assumptions; for example, a direct insurer may assume that risk attaches to all policies from the middle of the month in which they are written, and a reinsurer may assume, in relation to premiums ceded to it, that risk attaches from the assumed attachment date of the underlying direct insurance policies or of the indemnity periods. Such bases are acceptable provided that they do not result in the recognition of a materially different amount of premium revenue in a particular financial year than would be the case if recognition occurred from the date of attachment of risk for each policy;\n-   Premium revenue will need to be discounted where premium revenue under an insurance contract is to be received beyond the current year of cover. In these instances use discount rates as required in measuring claims liabilities in accordance with GPS 210 Liability Valuation for General Insurers;\n-   Premiums written is only to be recognised as revenue when the insurer is on risk for the insurance cover provided (i.e. contract for insurance);\n-   Premium revenue includes the value of future premium receipts under existing insurance contracts through to the end of the period insurance covered and is to reflect the probability of lapses or cancellations by policyholders and a measurement of cash flows from future renewals but only to the extent that the inclusion of renewals are uncancelable and are unfavourable to the insurer;\n-   Premium revenue excludes cash flows from future insurance contracts and investment returns from current or future investments;\n-   Premium revenue excludes amounts collected on behalf of third parties i.e. government stamp duty and taxes;\n-   Levies charged to customers are to be included as premium revenue such as fire service levies. Such levies are expenses of the insurer rather than government charges directly upon those insured. The amount paid by the insurer to government authorities does not depend on the amounts collected from those insured in relation to the levies and charges;\n-   Premiums refunds and rebates are to be deducted from premium revenue;\n-   For installment premium policies, the amount of the annualised premium is to be used;\n-   Where premium is calculated on an adjustment basis, the estimated annual premium is to be brought to account, with the estimated premium being replaced by the actual amount as it becomes known. Where premium is accepted on a deposit basis the full annual premium is to be brought to account; and\n-   Premium revenue must be gross of reinsurance expense.\n\nClasses of Insurance Business\n\n1.  Direct Business\n\nThe classes of business for companies that are not specialist reinsurers are as follows:\n\n(I). Houseowners/Householders (H & H)\n\nThis class covers the common H & H policies inclusive of:\n\n-   Contents;\n-   Personal property;\n-   Arson; and\n-   Burglary.\n\nPublic liability normally attaching to these products are to be separated and included in Public and Product Liability class of business – item 8.\n\n(II). Commercial Motor Vehicle\n\nMotor vehicle insurance (including third party property damage) other than insurance covering vehicles defined below under Domestic Motor Vehicle. It includes long and medium haul trucks, cranes and special vehicles and policies covering fleets.\n\n(III). Domestic Motor Vehicle\n\nMotor vehicle insurance (including third party property damage) covering private use motor vehicles including utilities and lorries, motor cycles, private caravans, box and boat trailers and other vehicles not normally covered by business or commercial policies.\n\n  \n\n(IV). Travel\n\nInsurance against losses associated with travel including loss of baggage and personal effects, losses on flight cancellations and overseas medical costs.\n\n(V). Fire and Industrial Special Risks (ISR)\n\nFire\n\nIncludes all policies normally classified as 'Fire' and includes:\n\n-   sprinkler leakage;\n-   subsidence;\n-   windstorm;\n-   hailstone;\n-   crop;\n-   arson; and\n-   loss of profits and any extraneous risk normally covered under fire policies, e.g. flood.\n\nISR\n\nStandard policy wordings exist for this type of policy. All policies which contain such standard wordings or where the wording is substantially similar are to be classified as ISR.\n\n(VI). Marine\n\nIncludes Marine Hull (including pleasure craft), Marine Cargo (including sea and inland transit insurance).\n\n(VII). Aviation\n\nAviation (including aircraft hull and aircraft liability).\n\n(VIII). Mortgage\n\nInsurance against losses arising from the failure of debtors to meet financial obligations to creditors or under which payment of debts is guaranteed. It includes lease guarantee.\n\n(IX). Consumer Credit (CCI)\n\nInsurance to protect a consumer's ability to meet the loan repayments on personal loans and credit card finance in the event of death or loss of income due to injury, illness or unemployment.\n\n(X). Other Accident\n\nIncludes the following types of insurance:\n\n-   Miscellaneous accident (involving cash in transit, theft, loss of money);\n-   All risks (baggage, sporting equipment, guns);\n-   Engineering when not part of ISR or Fire policy;\n-   Plate glass when not part of packaged policy (e.g. houseowners /householders)\n-   Guarantee (Insurance Bonds);\n-   Live Stock;\n-   Pluvius; and\n-   Sickness and Accident (which provides stated benefits where the insured is killed or suffers loss of specific parts of the body or is prevented from carrying out the insured’s normal occupation. In addition, regular benefits may be paid over a short period of time (typically less than 3 years), noting that continuous disability policies are now considered to be Life Insurance Policies and should not be provided by general insurance companies).\n\n(XI). Other\n\nAll other insurance business not specifically mentioned elsewhere. It includes, for example:\n\n-   All guarantees (e.g. fidelity Guarantee)\n-   Trade Credit;\n-   Extended Warranty (includes insurance by a third party for a period in excess of the manufacturer's or seller’s normal warranty);\n-   Kidnap and Ransom; and\n-   Contingency.\n\n(XII). Compulsory Third Party Motor Vehicle (CTP)\n\nThis class consists only of CTP business.\n\n(XIII). Public and Product Liability\n\n-   Public Liability covers legal liability to the public in respect of bodily injury or property damage arising out of the operation of the insured's business. Product Liability includes policies that provide for compensation for loss and or injury caused by, or as a result of, the use of goods and also environmental clean-up caused by pollution spills where not covered by Fire and ISR policies.\n-   Also will include builders warranty insurance.\n\n(XIV). Professional Indemnity (PI)\n\nIncludes Directors' and Officers' liability insurance plus legal expense insurance. Cover for legal expenses general included in this type of policy.\n\n(XV). Employers' Liability (EL)\n\nIncludes:\n\n-   Workers' compensation;\n-   Seamen's compensation; and\n-   Domestic workers compensation.\n\n2. Inwards Treaty\n\nIncludes the value of all reinsurance business in this line item.","sortOrder":19},{"sectionNumber":"Premium Revenue - Each State and Territo","sectionType":"section","heading":"Premium Revenue - Each State and Territory","content":"###### Premium Revenue - Each State and Territory\n\nReport premium revenue Inside Australia according to where the risk is located.\n\nThis is the premium revenue as required by the APRA forms (refer to instructions GRF 310.1 Premium Income and Reinsurance Expense). In this context premium revenue will be recognised fully when written. Premium revenue is not to be reported in accordance with AASB 1023 ‘Financial Reporting of General Insurance Activities’ (i.e. earned and unearned components).\n\nPremium revenue is to be recognised in line with the following:\n\n-   Premium revenue is to be recognised fully upfront when the business is written (i.e. at the attachment date) as soon as the amount can be reliably measured. For reasons of practicality, attachment date may be determined in accordance with the provisions of AASB 1023 i.e. many insurers may use a basis of recognition that attempts to approximate this date. These bases are predicated on assumptions; for example, a direct insurer may assume that risk attaches to all policies from the middle of the month in which they are written, and a reinsurer may assume, in relation to premiums ceded to it, that risk attaches from the assumed attachment date of the underlying direct insurance policies or of the indemnity periods. Such bases are acceptable provided that they do not result in the recognition of a materially different amount of premium revenue in a particular financial year than would be the case if recognition occurred from the date of attachment of risk for each policy;\n-   Premium revenue will need to be discounted where premium revenue under an insurance contract is to be received beyond the current year of cover. In these instances use discount rates as required in measuring claims liabilities in accordance with GPS 210 Liability Valuation for General Insurers;\n-   Premiums written is only to be recognised as revenue when the insurer is on risk for the insurance cover provided (i.e. contract for insurance);\n-   Premium revenue includes the value of future premium receipts under existing insurance contracts through to the end of the period insurance covered and is to reflect the probability of lapses or cancellations by policyholders and a measurement of cash flows from future renewals but only to the extent that the inclusion of renewals are uncancelable and are unfavourable to the insurer;\n-   Premium revenue excludes cash flows from future insurance contracts and investment returns from current or future investments;\n-   Premium revenue excludes amounts collected on behalf of third parties i.e. government stamp duty and taxes;\n-   Levies charged to customers are to be included as premium revenue such as fire service levies. Such levies are expenses of the insurer rather than government charges directly upon those insured. The amount paid by the insurer to government authorities does not depend on the amounts collected from those insured in relation to the levies and charges;\n-   Premiums refunds and rebates are to be deducted from premium revenue;\n-   For installment premium policies, the amount of the annualised premium is to be used;\n-   Where premium is calculated on an adjustment basis, the estimated annual premium is to be brought to account, with the estimated premium being replaced by the actual amount as it becomes known. Where premium is accepted on a deposit basis the full annual premium is to be brought to account; and\n-   Premium revenue must be gross of reinsurance expense.\n\nClasses of Insurance Business\n\n1.  Direct Business\n\nThe classes of business for companies that are not specialist reinsurers are as follows:\n\n(I). Houseowners/Householders (H & H)\n\nThis class covers the common H & H policies inclusive of:\n\n-   Contents;\n-   Personal property;\n-   Arson; and\n-   Burglary.\n\nPublic liability normally attaching to these products are to be separated and included in Public and Product Liability class of business – item 8.\n\n(II). Commercial Motor Vehicle\n\nMotor vehicle insurance (including third party property damage) other than insurance covering vehicles defined below under Domestic Motor Vehicle. It includes long and medium haul trucks, cranes and special vehicles and policies covering fleets.\n\n(III). Domestic Motor Vehicle\n\nMotor vehicle insurance (including third party property damage) covering private use motor vehicles including utilities and lorries, motor cycles, private caravans, box and boat trailers and other vehicles not normally covered by business or commercial policies.\n\n  \n\n(IV). Travel\n\nInsurance against losses associated with travel including loss of baggage and personal effects, losses on flight cancellations and overseas medical costs.\n\n(V). Fire and Industrial Special Risks (ISR)\n\nFire\n\nIncludes all policies normally classified as 'Fire' and includes:\n\n-   sprinkler leakage;\n-   subsidence;\n-   windstorm;\n-   hailstone;\n-   crop;\n-   arson; and\n-   loss of profits and any extraneous risk normally covered under fire policies, e.g. flood.\n\nISR\n\nStandard policy wordings exist for this type of policy. All policies which contain such standard wordings or where the wording is substantially similar are to be classified as ISR.\n\n(VI). Marine\n\nIncludes Marine Hull (including pleasure craft), Marine Cargo (including sea and inland transit insurance).\n\n(VII). Aviation\n\nAviation (including aircraft hull and aircraft liability).\n\n(VIII). Mortgage\n\nInsurance against losses arising from the failure of debtors to meet financial obligations to creditors or under which payment of debts is guaranteed. It includes lease guarantee.\n\n(IX). Consumer Credit (CCI)\n\nInsurance to protect a consumer's ability to meet the loan repayments on personal loans and credit card finance in the event of death or loss of income due to injury, illness or unemployment.\n\n(X). Other Accident\n\nIncludes the following types of insurance:\n\n-   Miscellaneous accident (involving cash in transit, theft, loss of money);\n-   All risks (baggage, sporting equipment, guns);\n-   Engineering when not part of ISR or Fire policy;\n-   Plate glass when not part of packaged policy (e.g. houseowners /householders)\n-   Guarantee (Insurance Bonds);\n-   Live Stock;\n-   Pluvius; and\n-   Sickness and Accident (which provides stated benefits where the insured is killed or suffers loss of specific parts of the body or is prevented from carrying out the insured’s normal occupation. In addition, regular benefits may be paid over a short period of time (typically less than 3 years), noting that continuous disability policies are now considered to be Life Insurance Policies and should not be provided by general insurance companies).\n\n(XI). Other\n\nAll other insurance business not specifically mentioned elsewhere. It includes, for example:\n\n-   All guarantees (e.g. fidelity Guarantee)\n-   Trade Credit;\n-   Extended Warranty (includes insurance by a third party for a period in excess of the manufacturer's or seller’s normal warranty);\n-   Kidnap and Ransom; and\n-   Contingency.\n\n(XII). Compulsory Third Party Motor Vehicle (CTP)\n\nThis class consists only of CTP business.\n\n(XIII). Public and Product Liability\n\n-   Public Liability covers legal liability to the public in respect of bodily injury or property damage arising out of the operation of the insured's business. Product Liability includes policies that provide for compensation for loss and or injury caused by, or as a result of, the use of goods and also environmental clean-up caused by pollution spills where not covered by Fire and ISR policies.\n-   Also will include builders warranty insurance.\n\n(XIV). Professional Indemnity (PI)\n\nIncludes Directors' and Officers' liability insurance plus legal expense insurance. Cover for legal expenses general included in this type of policy.\n\n(XV). Employers' Liability (EL)\n\nIncludes:\n\n-   Workers' compensation;\n-   Seamen's compensation; and\n-   Domestic workers compensation.\n\n2. Inwards Treaty\n\nIncludes the value of all reinsurance business in this line item.","sortOrder":20}],"analysis":{"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"The instrument’s scope aligns with its stated objective: collect premium revenue by State/Territory from general insurers for APRA/ABS use. It expressly excludes authorised reinsurers (para 2), sets reporting units and measurement rules (Basis of preparation / Specific instructions), and preserves APRA discretion over frequency, form variations and lodgement timing (paras 6, 12–13). No internal text indicates a change from that original collection-purpose scope."},"complexity_factors":["Scope and exclusions: applies to all general insurers but excludes authorised reinsurers (paragraph 2).","Reporting frequency and APRA discretion: standard annual reporting with APRA able to require more or less frequent reports for particular insurers (paragraphs 5–6).","Form and data linkage: mandatory use of Form GRF 420.0 and cross-reference to GRF 310.1 for recognition and measurement (information required / Basis of preparation).","Recognition rules divergence: instructs premium revenue recognition upfront on writing (attachment date) and explicitly disapplies AASB 1023 for this reporting purpose (Specific instructions / Basis of preparation).","Submission and authorisation mechanics: electronic (D2A with APRA digital certificates) or paper submission, requiring officer signatures and board/senior management controls (paragraphs 4, 9–11).","Timing and extensions: fixed 4‑month lodgement lag with APRA power to grant extensions (paragraphs 7–8).","Audit and assurance: exempts the form from audit / ‘yearly statutory accounts’ and notes APRA proposals re audit exemptions under the Insurance Act (Instruction Guide / Reporting periods note).","APRA operational discretion: power to make minor variations to forms/instructions and to notify insurers (paragraphs 12–13), creating implementation variation risk."],"plain_english_summary":"This instrument requires general insurers (including foreign insurers operating through Australian branches) to submit Form GRF 420.0 to APRA—generally annually—showing premium revenue by State and Territory. APRA collects the data on behalf of the ABS to monitor where underwriting business is sourced and how concentrated it is. Insurers must follow specified recognition rules (not AASB 1023), use APRA’s electronic or paper channels, and ensure board-level authorisation of submitted data."},"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":3248},"content_quality":"ok","complexity_score":5,"scope_assessment":{"changed":false,"description":"The instrument remains tightly focused on its original objective: collecting granular geographic breakdowns of general insurance premium data for prudential supervision and statistical purposes. The detailed insurance class definitions and specific accounting treatments serve this core data collection purpose without expanding into broader regulatory territory."},"complexity_factors":["Cross-references to multiple external standards and Acts (AASB 1023, GPS 210, Insurance Act 1973, Corporations Act 2001, Financial Sector (Collection of Data) Act 2001)","Technical accounting overrides requiring insurers to disregard standard 'earned premium' accounting (AASB 1023) for this specific form while still using it for attachment date approximations","15 distinct insurance business classes with specific definitional boundaries (e.g., separating public liability from householder policies, defining Industrial Special Risks by standard policy wordings)","Dual submission tracks with different security and authorisation requirements (digital certificates and encryption vs manual CEO/CFO signatures)","Conditional reporting frequency allowing APRA discretion to alter standard annual cycles based on prudential assessment of individual insurers","Complex measurement rules for non-standard premium arrangements (adjustment basis, deposit basis, discounting multi-year contracts, handling of renewals and cancellations)"],"plain_english_summary":"General insurers operating in Australia — including foreign companies with Australian branches but excluding pure reinsurers — must report premium income by state and territory (using Form GRF 420.0). Reports use premiums written, follow specified accounting rules, are normally submitted annually to APRA via its electronic system, and must be authorised by senior officers.\n\nThe data helps APRA monitor geographic concentration and prudential risk (and is shared with the ABS for national statistics)."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-determination-no-25-of-2005","history":"/api/acts/financial-sector-collection-of-data-determination-no-25-of-2005/history","analysis":"/api/acts/financial-sector-collection-of-data-determination-no-25-of-2005/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-determination-no-25-of-2005/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-determination-no-25-of-2005/important-cases","documents":"/api/acts/financial-sector-collection-of-data-determination-no-25-of-2005/documents"}}