{"id":"F2006L02099","name":"Financial Sector (Collection of Data) determination No. 62 of 2006 - Reporting Standard GRS 800.2 - Claim Data: Public and Product Liability and Professional Indemnity Insurance","slug":"financial-sector-collection-of-data-determination-no-62-of-2006-reporting-standard-grs-800-2-claim-d","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":117441,"registerId":"commonwealth-F2006L02099-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Objective of this reporting standard","sectionType":"division","heading":"Objective of this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. It requires general insurers to provide APRA with information on public liability, product liability and professional indemnity policies and facility business, covering similar risks, during a reporting period.","sortOrder":0},{"sectionNumber":"Appendix A: Data Validation","sectionType":"part","heading":"Appendix A: Data Validation","content":"#   \nAppendix A: Data Validation\n\nAs well as unit record validation, overall reasonability checks will be carried out on each insurer’s data.\n\nWith each half-yearly data submission\n\nVarious 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:\n\n-   Change in the aggregate Gross Earned Premium, split by two digit ANZSIC code or single character occupation code;\n-   Changes in the total numbers of policies and claims;\n-   Counts of claims by various measures; causes of loss, severity or litigation status; and\n-   Changes in the average and total claims paid.\n\nAs well, various reasonability checks will be carried out within each period submission, including;\n\n-   Overuse of the various ‘Other’ categories and codes; and\n-   Comparison of the various premium fields against each other.\n\nOther reasonability checks may be carried out on an ad hoc basis.","sortOrder":1}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1366},"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"The instrument remains tightly focused on its original purpose: mandating half-yearly collection of public liability, product liability and professional indemnity claims data from general insurers. No scope creep is evident."},"complexity_factors":["References to external classification systems (ANZSIC industry codes and single-character occupation codes) requiring lookup tables","Technical insurance jargon (Gross Earned Premium, facility business, unit record validation)","Cross-reference to enabling Act (section 13 of Financial Sector (Collection of Data) Act 2001)","Multi-dimensional validation logic requiring temporal comparisons and internal consistency checks"],"plain_english_summary":"This reporting standard requires general insurers to submit detailed six‑monthly data to APRA on public liability, product liability and professional indemnity policies and claims.  \n\nAPRA will use the data to monitor sector stability and emerging risks, applying reasonability checks that compare current figures with prior periods and flag anomalies such as excessive use of “Other” categories."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-determination-no-62-of-2006-reporting-standard-grs-800-2-claim-d","history":"/api/acts/financial-sector-collection-of-data-determination-no-62-of-2006-reporting-standard-grs-800-2-claim-d/history","analysis":"/api/acts/financial-sector-collection-of-data-determination-no-62-of-2006-reporting-standard-grs-800-2-claim-d/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-determination-no-62-of-2006-reporting-standard-grs-800-2-claim-d/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-determination-no-62-of-2006-reporting-standard-grs-800-2-claim-d/important-cases","documents":"/api/acts/financial-sector-collection-of-data-determination-no-62-of-2006-reporting-standard-grs-800-2-claim-d/documents"}}