{"id":"F2021L00347","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 5 of 2021","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-5-of-2021","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":101565,"registerId":"commonwealth-F2021L00347-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Objective of this reporting standard","sectionType":"part","heading":"Objective of this reporting standard","content":"# Objective of this reporting standard\n\nThis Reporting Standard sets out requirements for the provision of information to APRA relating to claims made on certain public liability, product liability and professional indemnity insurance policies of a Lloyd’s underwriter, and facility business underwritten covering similar risks.  \n\n\n\nIt includes Reporting Form LOLRF 800.2 Claim Data: Public and Product Liability and Professional Indemnity Insurance and the associated instructions.","sortOrder":0},{"sectionNumber":"Authority","sectionType":"part","heading":"Authority","content":"## Authority\n\n1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.","sortOrder":1},{"sectionNumber":"Purpose","sectionType":"part","heading":"Purpose","content":"## Purpose\n\n2.             Information collected by Reporting Form LOLRF 800.2 Claim Data: Public and Product Liability and Professional Indemnity Insurance (LOLRF 800.2) is used by APRA for the purpose of prudential supervision and publication, including publication in the National Claims and Policies Database (NCPD).","sortOrder":2},{"sectionNumber":"Application","sectionType":"part","heading":"Application","content":"## Application\n\n3.             This Reporting Standard applies to Lloyd’s.","sortOrder":3},{"sectionNumber":"Commencement","sectionType":"part","heading":"Commencement","content":"## Commencement\n\n4.             This Reporting Standard applies for reporting periods ending on or after 31 December 2021.","sortOrder":4},{"sectionNumber":"Information required","sectionType":"part","heading":"Information required","content":"## Information required\n\n5.             Lloyd’s must provide APRA with the information required by LOLRF 800.2 for each reporting period, and each reportable claim made on a Lloyd’s underwriter:\n\n(a)          made during the reporting period; and\n\n(b)          originally made before the start of the reporting period and that has not been settled, or was re-opened, during the reporting period.","sortOrder":5},{"sectionNumber":"Reporting periods and due dates","sectionType":"part","heading":"Reporting periods and due dates","content":"## Reporting periods and due dates\n\n6.             Subject to paragraph 7 of this Reporting Standard, Lloyd’s must provide the information required by this Reporting Standard in respect of each calendar half-year (i.e. the periods ending 30 June and 31 December each year).\n\n7.             APRA may, by notice in writing, change the reporting periods, or specify reporting periods, to require Lloyd’s to provide the information required by this Reporting Standard more frequently, or less frequently, or in respect of reporting periods based upon a Lloyd’s underwriter’s own accounting financial year for that part of the information required by this Reporting Standard relating to that underwriter, having regard to:\n\n(a)          the particular circumstances of a Lloyd’s underwriter; and\n\n(b)          the extent to which the information is required for the purposes of the prudential supervision of a Lloyd’s underwriter.\n\n8.             The information required by this Reporting Standard must be provided to APRA by no later than four months after the end of the reporting period.\n\n9.             APRA may grant Lloyd’s 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":6},{"sectionNumber":"Method of submission","sectionType":"part","heading":"Method of submission","content":"## Method of submission\n\n10.         Unless a method is notified by APRA, in writing, prior to submissions, the information required by this Reporting Standard must be rendered in comma separated values (CSV) format in accordance with the instructions in LOLRF 800.2, and must be provided electronically through the web site www.ncpd.apra.gov.au, by logging on using the relevant customer identification number and password provided by Fujitsu Australia (as agent of APRA), and following the instructions on that web site.","sortOrder":7},{"sectionNumber":"Quality control","sectionType":"part","heading":"Quality control","content":"## Quality control\n\n11.         The information provided by Lloyd’s under this Reporting Standard must be subject to systems, processes and controls developed by Lloyd’s for the internal review and authorisation of that information.  \n\nNote: Lloyd’s General Representative in Australia must ensure that an appropriate set of policies and procedures is in place for the authorisation of data provided to APRA.","sortOrder":8},{"sectionNumber":"Authorisation","sectionType":"part","heading":"Authorisation","content":"## Authorisation\n\n12.         Fujitsu Australia (as agent of APRA) will provide Lloyd’s with a customer identification number.  If Lloyd’s proposes to submit information required by this Reporting Standard using the method in paragraph 10 (i.e. via the website), Lloyd’s must apply for a password by viewing the web page referred to in paragraph 10, quoting Lloyd’s customer identification number and following the instructions for applying for a password on that page.  Fujitsu Australia will advise Lloyd’s General Representative in Australia of the password for Lloyd’s.  When information is provided using the method in paragraph 10, Lloyd’s will be required to quote its customer identification number and password.  Upon successful validation of the customer identification and password a secure session between Lloyd’s and Fujitsu Australia will be created and information will be encrypted before transmission.\n\n13.         Despite paragraph 12, or where APRA has under paragraph 10 notified an alternate method of submission, APRA may also determine in writing that:  \n\n(a)          a specified person (who need not be Lloyd’s General Representative in Australia or agent);\n\n(b)          a person holding a specified position (who need not be Lloyd’s General Representative in Australia or agent); or\n\n(c)          a person authorised by Lloyd’s to use Lloyd’s customer identification number and password,  \n\nmay, or must, authorise (in a manner specified) information provided by Lloyd’s under this Reporting Standard.","sortOrder":9},{"sectionNumber":"Minor alterations to forms and instructi","sectionType":"part","heading":"Minor alterations to forms and instructions","content":"## Minor alterations to forms and instructions\n\n14.         APRA may:  \n\n(a)          make minor variations to LOLRF 800.2 (either generally, or in relation to a class of Lloyd’s underwriters, or in relation to one or more named Lloyd’s underwriters) to correct technical, programming or logical errors, inconsistencies or anomalies;  \n\n(b)          vary, omit or substitute (either generally, or in relation to a class of Lloyd’s underwriters, or in relation to one or more named Lloyd’s underwriters) an occupation code or description in Appendix C to LOLRF 800.2, if APRA forms the view that the existing code or description is inappropriate having regard to the circumstances or business of Lloyd’s and any other relevant considerations; or\n\n(c)          vary, omit or substitute (either generally, or in relation to a class of Lloyd’s underwriters, or in relation to one or more named Lloyd’s underwriters) a specification in a Table in LOLRF 800.2, if APRA forms the view that the specification is inappropriate having regard to the circumstances or business of Lloyd’s underwriters and any other relevant considerations.\n\n15.         If APRA makes such a variation it must notify Lloyd’s in writing.","sortOrder":10},{"sectionNumber":"Transition","sectionType":"part","heading":"Transition","content":"## Transition\n\n16.         An insurer must report under the old reporting standard in respect of a transitional reporting period. For these purposes:\n\nold reporting standard means the reporting standard revoked by the determination that makes this Reporting Standard (being the reporting standard  that this Reporting Standard replaces); and\n\ntransitional reporting period means a reporting period under the old reporting standard:\n\n(a)   that ended before the date of revocation of the old reporting standard; and  \n\n(b)   in relation to which the insurer was required, under the old reporting standard, to report by a date on or after the date of revocation of the old reporting standard.\n\nNote: For the avoidance of doubt, if an insurer was required to report under an old reporting standard, and the reporting documents were due before the date of revocation of the old reporting standard, the insurer is still required to provide any overdue reporting documents in accordance with the old reporting standard.","sortOrder":11},{"sectionNumber":"Interpretation","sectionType":"part","heading":"Interpretation","content":"## Interpretation\n\n17.         In this Reporting Standard:\n\nagent of APRA means a person appointed under section 47 of the Australian Prudential Regulation Authority Act 1998 to receive data on behalf of APRA.\n\nAPRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998.\n\nfacility business means business that is closed by bordereau and for which the relevant Lloyd’s underwriter does not receive individual policy or claims data from the facility manager, and includes business undertaken through an underwriting pool or joint venture arrangement.\n\nFujitsu Australia means Fujitsu Australia Limited ABN 19 001 011 427.\n\nLloyd’s has the meaning in the Insurance Act 1973.\n\nLloyd’s General Representative in Australia means the employee of Lloyd’s or Lloyd’s Australia Ltd who holds the position of Lloyd’s General Representative in Australia, or performs the functions and duties described by that title.\n\nLloyd’s underwriter has the meaning in the Insurance Act 1973.\n\nproduct liability insurance includes policies that provide for compensation for loss and or injury caused by, or as a result of, the use of goods.\n\nprofessional indemnity insurance includes:\n\n(a)           insurance that provides cover for a professional for actions taken against that professional in tort, contract or under statute law in respect of advice or services provided as part of their professional practice, including cover in respect of damages and legal expenses;\n\n(b)           directors’ and officers’ liability insurance and legal expense insurance; and\n\n(c)           medical indemnity insurance.\n\npublic liability insurance includes:\n\n(a)           insurance covering legal liability to the public in respect of bodily injury or property damage arising out of the operation of the insured’s business; and\n\n(b)           insurance in respect of environmental clean-up costs resulting from pollution where not covered by Fire and Industrial Special Risk policies.\n\nreportable claim means a claim made under a policy of product liability insurance, professional indemnity insurance or public liability insurance that was not finalised or settled by 1 January 2003, not being a claim that relates to:\n\n(a)           reinsurance or retrocession cover;\n\n(b)           marine insurance;\n\n(c)           domestic householder’s or owner’s insurance, or tenant’s liability insurance, sold in conjunction with a building or contents policy; or\n\n(d)           an event that could neither occur in Australia nor in relation to an insured resident of Australia.\n\n18.         Unless the contrary intention appears, any reference to an Act, Regulation, Prudential Standard, Reporting Standard, Australian Accounting Standard or Auditing Standard is a reference to the instrument as in force or existing from time to time.\n\n19.         Where this Reporting Standard provides for APRA to exercise a power or discretion, this power or discretion is to be exercised in writing.","sortOrder":12},{"sectionNumber":"Reporting Form LOLRF 800.2","sectionType":"part","heading":"Reporting Form LOLRF 800.2","content":"# Reporting Form LOLRF 800.2\n\nClaim Data: Public and Product Liability and Professional Indemnity Insurance","sortOrder":13},{"sectionNumber":"Instruction Guide","sectionType":"part","heading":"Instruction Guide","content":"# Instruction Guide\n\nThese instructions have been prepared for the purpose of defining the claim information required to be submitted by Lloyd’s in respect of public and product liability and professional indemnity insurance.  This information will contribute to a National Claims and Policy Database (NCPD) in respect of these classes of insurance.  The intention is to create a database that holds information in respect of claims and policies for public and product liability and professional indemnity on a national basis.  \n\nDetails of requirements in relation to reporting periods, method of submission and authorisation are set out in the Reporting Standard.  The data submitted by Lloyd’s will be validated by APRA at each reporting period. The data validation to be performed is outlined in Appendix A.","sortOrder":14},{"sectionNumber":"Record Layouts and Field Specifications","sectionType":"part","heading":"Record Layouts and Field Specifications","content":"# Reporting Form LOLRF 800.2\n\nClaim Data: Public and Product Liability and Professional Indemnity Insurance\n\n# Instruction Guide\n\nThese instructions have been prepared for the purpose of defining the claim information required to be submitted by Lloyd’s in respect of public and product liability and professional indemnity insurance.  This information will contribute to a National Claims and Policy Database (NCPD) in respect of these classes of insurance.  The intention is to create a database that holds information in respect of claims and policies for public and product liability and professional indemnity on a national basis.  \n\nDetails of requirements in relation to reporting periods, method of submission and authorisation are set out in the Reporting Standard.  The data submitted by Lloyd’s will be validated by APRA at each reporting period. The data validation to be performed is outlined in Appendix A.\n\n# Record Layouts and Field Specifications\n\n## Claim Data\n\n| Claims Data | Data Item | Public  &<br>Products | Professional Risk | Field type1 |\n| --- | --- | --- | --- | --- |\n| 1* | Insurer code | M | M | 6a |\n| 2* | Record type | M | M | 1a |\n| 3 | Status at end of Reporting Period | M | M | 1a |\n| 4* | Month of End of Reporting Period | M | M | 8n |\n| 5* | Class of Business | M | M | 2a |\n| 6* | Policy Number | M | M | 30a/n |\n| 7* | Risk Number | M | M | 30a/n |\n| 8* | Claim Number | M | M | 30a/n |\n| 9* | Date of Loss | M | O | 8n |\n| 10 | Date of Report | M | M | 8n |\n| 11 | Date Finalised | M | M | 8n |\n| 12 | Jurisdiction of Claim | O | O | 3a |\n| 13 | Deductible/Excess | O | O | 12n |\n| 14 | General Nature of Loss | O | O | 1a |\n| 15 | Cause of Loss | O | O | 3a |\n| 16 | Body Functions or Structures Affected | O | O | 1a |\n| 17 | Severity of Loss | O | O | 1a&1n |\n| 18 | Litigation Status | O | O | 1a |\n| 19 | Gross Payments in the Reporting Period | M | M | 12n |\n| 20 | Gross Payments to Date | M | M | 12n |\n| 21 | Gross Case Estimate at Start of Reporting Period | M | M | 12n |\n| 22 | Gross Case Estimate at End of Reporting Period | M | M | 12n |\n| 23 | Gross Third Party Recoveries Received | O | O | 12n |\n| 24 | Gross Third Party Recoveries Outstanding | O | O | 12n |\n| 25.1 | Past economic loss | O | O | 12n |\n| 25.2 | Future economic loss | O | O | 12n |\n| 25.3 | Past medical, hospital, caring and related services | O | O | 12n |\n| 25.4 | Future medical, hospital and related services | O | O | 12n |\n| 25.5 | Future caring services | O | O | 12n |\n| 25.6 | General damages | O | O | 12n |\n| 25.7 | Interest | O | O | 12n |\n| 25.8 | Plaintiff legal costs | O | O | 12n |\n| 25.9 | Defendant legal costs | O | O | 12n |\n| 25.10 | Investigation costs | O | O | 12n |\n| 25.11 | Other | O | O | 12n |\n\n\n\n\n1Date must be DDMMYYYY, no delimiter.\n\nKey:\n\nM – mandatory field on all records from 1 July 2004.\n\nO – optional field.\n\na – alpha.\n\nn – numeric.\n\n* Fields so indicated, as a combination, must be unique for each reporting period.\n\n\n\n## Claims Record Data Field Definitions\n\n1. Insurer code  \n\nThis will be provided by APRA when advised of the method of delivery of the data.\n\n2. Record type  \n\n•  C for Claims Record\n\n### 3. Status at End of Reporting Period\n\n•                 C for Current\n\n•                 F for Finalised\n\n•                 For claims that have been reopened, code a “C”\n\n•                 S for Structured Settlement\n\n### 4. Month of End of Reporting Period\n\nThe data will relate to a six month period.  Code the last day of this period in this field as DDMMYYYY, e.g. insert code 30062003 for data relating to the six months ending 30 June 2003.  \n\n### 5. Class of Business\n\n•                 PL = Public & Product\n\n•                 PI = Professional Risk\n\n### 6. Policy Number\n\nThe unique market reference field allocated by the Lloyd’s broker.  This information is only used for cross-referencing by APRA – it will not be published except in any individual data reports prepared for the insurer concerned.  \n\nWhere individual claims data is being provided but its associated policy data is being provided in aggregate form in the facility data file, the facility number should be used as the policy number for the claim.\n\n### 7. Risk Number\n\nThe broker reference field used to sub-divide accounting entries into different countries.\n\n### 8. Claim Number\n\nA unique identifier of a claim.  This information is only used for cross-referencing by APRA – it will not be published except in any individual data reports prepared for the insurer concerned.  \n\n### 9. Date of Loss\n\nCode date on which the incident giving rise to the claim is believed to have occurred in this field as DDMMYYYY.  In cases where the actual date of loss is not known or relates to a period of time, then use the date when the claim was made or the first advice was given to Lloyd’s syndicates.\n\n### 10. Date of Report\n\nCode date when claim was first advised (not processed) to the Lloyd’s syndicate as DDMMYYYY.\n\n### 11. Date Finalised\n\nCode date when claim is finalised as DDMMYYYY.  This field should only be completed when all payments to the claimant(s) and any third party suppliers are believed to have been made and all recoveries expected from third parties (ignoring reinsurers) have been received.  Note that a claim may be recorded as finalised even if recoveries from reinsurers have not been received.  \n\nIf the status of the claim is Finalised, this field is mandatory.  Where the claim is not finalised this field is “blank”.\n\n### 12. Jurisdiction of Claim\n\nThis is the state (ACT, NSW, NT, QLD, SA, TAS, VIC or WA) where the claim has been decided by a court judgement. If the claim is decided in a federal court, input the state where the claim was heard. However, if the claim is settled out of court, then input the state where the claim was settled, i.e. the state in which the claimant’s payment is paid.\n\nWhere this information is not available, enter a hyphen (“-“).\n\n### 13. Deductible/Excess\n\nTotal of all deductibles or excesses applied to this claim in whole dollars converted to A$ using end of processing month rates of exchange.  This may differ from the amount shown in field 20 on the related exposure record.\n\nWhere this information is not available, enter a hyphen (“-“).\n\n### 14. General Nature of Loss\n\nCode the general nature of loss as\n\n•                 P = Property damage only\n\n•                 B = Bodily injury or death\n\n•                 L = Both property damage and bodily injury\n\n•                 F = Financial loss only (no physical damage or bodily injury)\n\n•                 X = Both bodily injury and financial loss\n\n•                 Y = Both property damage and financial loss\n\n•                 Z = Property damage, bodily injury and financial loss\n\nCode as a hyphen (“-“) if unknown\n\nIf 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.\n\nWhere this information is not available, enter a hyphen (“-“).\n\n### 15. Cause of loss\n\nCode one of the causes shown in the following table to the claim.  The most significant contributing factor should be identified.  \n\nWhere this information is not available, enter a hyphen (“-“).\n\n| APRA<br>Code | Claim Type – Public & Products Liability | Current ISA Code(s)<br> (for information only) |\n| --- | --- | --- |\n| ABM | Abuse/molestation | L12 |\n| ANM | Animal bite/attack/impact | L88, L16, L62 |\n| ASB | Asbestos/Dust Diseases | L14 |\n| CAT | Catastrophe, e.g. Cyclone, earthquake |  |\n| CUS | Care/custody/control | L50 |\n| COL | Collapse of building/structure/subsidence/landslide/weakening and or removal of supports/rusting/oxidation/discoloration including concrete cancer | L18, L42, L86, L40 |\n| CYF | Cyber – 1st party loss |  |\n| CYT | Cyber – 3rd party loss |  |\n| DFM | Defamation/slander | L53 |\n| DSC | Discrimination/harassment | L54 |\n| ELC | Electrocution | L21 |\n| ENV | Environmental contamination or pollution/spray/drift/ other contamination/exposure to or contact with substance/<br>Not mould or asbestos | L72, L80, L19, L24 |\n| EQB | Equipment breakdown and accidental breakage | L22, L11 |\n| EXP | Explosion and/or vibration/exposure to sudden or long-term  sound or noise/excavation/drilling damage | L23, L56, L43, L65 |\n| NEG | Failed or injurious treatment by practitioner or consultant, or negligent advice | L29, L69 |\n| FLL | Fall including from height and slip & fall | L25, L41 |\n| FPW | Faulty product/faulty workmanship | L51, L59 |\n| FIR | Fire including welding | L27, L87 |\n| IMP | Impact or damage by object/vehicle/person, including physical assault/trapped by machinery or equipment | L30, L44, L66, L37, L83 |\n| LSL | Lease liabilities | L64 |\n| LFT | Lifting, carrying or putting down objects/machinery use/repetitive or overuse injury | L63, L66, L77<br> |\n| MLD | Mould | L89 |\n| OTH | Other non-financial loss | L48 |\n| OFN | Other financial loss | L26 |\n| WTR | Water | L46 |\n| WKR | Worker to worker injury | L47 |\n\n\nTable 2\n\n| APRA<br>Code | Claim Type – Professional Risk |\n| --- | --- |\n|  | Non-performance or improper, inappropriate,  inadequate, incorrect, incomplete, inaccurate, untimely provision of : |\n| AA | Advice |\n| DA | Documentation/ administration |\n| SI | Supervision / inspection |\n| DS | Design / specification |\n| PM | Project management |\n| TE | Testing |\n| DI | Diagnosis |\n| TR | Treatment |\n| PR | Procedural |\n| ME | Medication |\n| IC | Infection control / prevention |\n| AE | Anaesthetic |\n| BL | Blood Products |\n| CO | Consent (incl. no valid consent, failure to warn, acting against patient’s |\n| APRA<br>Code | Claim Type – Professional Risk |\n|  | wishes) |\n| SE | Services other than specified above |\n| EQ | Faulty and/or inadequate / inappropriate / inaccurate / contaminated equipment  and/or premises |\n| IP | Breach of intellectual property rights |\n| DE | Defamation |\n| CI | Conflict of interest |\n| BC | Breach of confidentiality |\n| BT | Breach of trust / fiduciary duties |\n| UD | Unfair dismissal |\n| LD | Loss of documents |\n| FR | Fraud & dishonesty.  Fidelity |\n| MI | Misleading and/or deceptive advice/conduct (specifically section(s) of federal Trade Practices Act, state Fair Trading Acts and the like) |\n| AB | Assault /abuse / mistreatment |\n| HA | Harassment / discrimination |\n| SH | Sexual harassment |\n| IN | Insolvency |\n| LE | Legal expense coverage (disciplinary enquiries, investigations, inquests and the like) |\n| IT | Improper trading / collusive practices /unconscionable conduct |\n| OR | Other |\n\n\n Table 3\n\n#### 16. Body Functions of Structures Affected\n\nCode the most significant body function or structure affecting the claimant as known at the end of the reporting period.\n\n| APRA Code | Body Functions or Structures Affected |\n| --- | --- |\n| C | Cardiovascular, Haematological, Immunological and Respiratory |\n| D | Death |\n| E | Digestive, Metabolic and Endocrine Systems |\n| G | Genitourinary and Reproductive |\n| M | Mental or Nervous System |\n| N | Neuromusculoskeletal and Movement-Related |\n| P | Sensory, Pain, Eye, Ear and Related Structures |\n| S | Skin and Related Structures |\n| V | Voice and Speech |\n\n\n Table 4\n\nWhere this information is not available, enter a hyphen (“-”).\n\n#### 17. Severity of loss\n\nCode the severity of the loss underlying the claim for all claims involving bodily injury where claim item 14 (General Nature of Loss) contains a bodily injury component.\n\n| APRA code | Severity of loss [acute bodily injury claims only] |\n| --- | --- |\n| L1 | Minor or mild injury to soft tissue; minor lacerations; bruising |\n| L2 | Minor or simple fractures; larger lacerations |\n| M1 | Moderate injury usually involving nerve or tissue damage |\n| APRA code | Severity of loss [acute bodily injury claims only] |\n| M2 | Serious injury involving loss of tissue, internal bleeding, ruptured tissue or organs |\n| S1 | Major injury involving brain injury likely to lead to permanent impairment |\n| S2 | Major injury involving spinal cord injury likely to lead to permanent impairment |\n| S3 | Quadriplegia |\n| S4 | Paraplegia |\n| S5 | Other major injury leading to a disability that is likely to permanently reduce the earning capacity or activity in the community of the claimant |\n\n\n Table 5\n\nWhere this information is not available, enter a hyphen (“-“).\n\n#### 18. Litigation Status\n\nExtent to which case has proceeded through the legal system\n\n| APRA Code | Litigation Status |\n| --- | --- |\n| O | Claim is not litigated |\n| N | Plaintiff does not have legal representation |\n| U | Plaintiff has legal representation but the claim has not been resolved. |\n| L | Plaintiff has obtained legal advice but settlement was reached by negotiation (whether court proceedings were commenced or subsequent to a judgement but before an appeal court determination) |\n| V | Case was settled by court judgement (whether lower court or appeal court) and defendant paid judgement amount (i.e. either case was not appealed or appeal was not upheld) |\n| W | Plaintiff has legal representation and elects to withdraw the claim. |\n| X | Plaintiff has legal representation, but the case is not awarded in plaintiff’s favour |\n\n\n Table 6\n\nWhere this information is not available, enter a hyphen (“-“).\n\n#### 19. Gross Payments in the Reporting Period\n\nThe amount of the Lloyd’s share of payments made since the last reporting period, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Includes payments made to claimant and to third party service providers (medical, legal, investigation) that are attributed to the claim.  \n\n#### 20. Gross Payments to Date\n\nThe amount of Lloyd’s share of payments made on this claim since the claim was first reported, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Includes payments made to claimant and to third-party service providers (medical, legal, investigation) that are attributed to the claim.  \n\n#### 21. Gross Case Estimate at Start of Reporting Period\n\nTotal of Lloyd’s share of all payments expected to be made in future to the claimant(s) and third party providers at the start of the reporting period, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Equals field 22 on the corresponding claim record that was submitted for the previous reporting period. Zero if this claim was first reported in the current reporting period.  \n\n#### 22. Gross Case Estimate at End of Reporting Period\n\nTotal of Lloyd’s share of all payments expected to be made in future to the claimant(s) and third party providers at the end of the reporting period, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange.  \n\n#### 23. Gross Third Party Recoveries Received\n\nTotal of Lloyd’s share of all amounts that have been received to date from third parties in respect of the claim, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Excludes any amounts that have been received under reinsurance contracts.  Where this information is not available, enter a hyphen (“-“).\n\n#### 24. Gross Third Party Recoveries Outstanding\n\nTotal of Lloyd’s share of all amounts that are expected to be received after the end of the reporting period from third parties in respect of the claim, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Excludes any amounts expected to be received under reinsurance contracts.\n\nWhere this information is not available, enter a hyphen (“-“).\n\n#### 25. Gross Claim Payments by Head of Damage before Third Party Recoveries (This field is not used)\n\nA breakdown of Lloyd’s share of the total settlement amount (converted to A$ using end of processing month rates of exchange) into the following heads of damage is required for finalised claims only. The total of items 25.1 to 25.11 must equal item 20 – Gross Payments to Date, with any rounding difference included in item 23.11 (Other).  \n\nA finalised claim is one where field 11 (date finalised) has been recorded and field 22 (gross case estimate at end of reporting period) is zero.\n\nWhere this information is not available, enter a hyphen (“-“).\n\n25.1 Past economic loss\n\n25.2 Future economic loss\n\n25.3 Past medical, hospital, caring and related services\n\n25.4 Future medical, hospital and related services\n\n25.5 Future caring services\n\n25.6 General damages\n\n25.7 Interest\n\n25.8 Plaintiff legal costs\n\n25.9 Defendant legal costs\n\n25.10 Investigation costs\n\n25.11 Other  \n\n\n# Appendix A: Data Validation\n\nThe individual claim data submitted by Lloyd’s will be validated by APRA as follows:\n\n1. Gross case estimate at the start of the current reporting period (claim field 19) will be compared with gross case estimate at the end of the previous reporting period (claim field 20) for each claim with a date of report prior to the start of the current reporting period.  Any discrepancy must be explained.\n2. Gross claim payments submitted in information provided by Lloyd’s under Lloyd’s Security Trust Fund Determination No 1, less the gross payments received for all facilities, is expected to reconcile to within 5% of the gross payments for each accident year calculated from the individual claim records submitted.  Discrepancies in the most recent accident years will be compared with the amount of payments made for all facilities.\n\n\nWhile it is appreciated that more extensive reconciliation could be attempted, this could require significant changes to the existing reporting requirements to APRA or the submission of other information (such as management accounts) from insurers that would not be in standard formats.  \n\nAPRA will expect that where Lloyd’s needs to demonstrate the reason for a discrepancy between the individual records submitted to the database and its aggregate data reported to APRA in the above forms, Lloyd’s will share such additional reports with APRA as required.","sortOrder":15},{"sectionNumber":"Claim Data","sectionType":"part","heading":"Claim Data","content":"## Claim Data\n\n| Claims Data | Data Item | Public  &<br>Products | Professional Risk | Field type1 |\n| --- | --- | --- | --- | --- |\n| 1* | Insurer code | M | M | 6a |\n| 2* | Record type | M | M | 1a |\n| 3 | Status at end of Reporting Period | M | M | 1a |\n| 4* | Month of End of Reporting Period | M | M | 8n |\n| 5* | Class of Business | M | M | 2a |\n| 6* | Policy Number | M | M | 30a/n |\n| 7* | Risk Number | M | M | 30a/n |\n| 8* | Claim Number | M | M | 30a/n |\n| 9* | Date of Loss | M | O | 8n |\n| 10 | Date of Report | M | M | 8n |\n| 11 | Date Finalised | M | M | 8n |\n| 12 | Jurisdiction of Claim | O | O | 3a |\n| 13 | Deductible/Excess | O | O | 12n |\n| 14 | General Nature of Loss | O | O | 1a |\n| 15 | Cause of Loss | O | O | 3a |\n| 16 | Body Functions or Structures Affected | O | O | 1a |\n| 17 | Severity of Loss | O | O | 1a&1n |\n| 18 | Litigation Status | O | O | 1a |\n| 19 | Gross Payments in the Reporting Period | M | M | 12n |\n| 20 | Gross Payments to Date | M | M | 12n |\n| 21 | Gross Case Estimate at Start of Reporting Period | M | M | 12n |\n| 22 | Gross Case Estimate at End of Reporting Period | M | M | 12n |\n| 23 | Gross Third Party Recoveries Received | O | O | 12n |\n| 24 | Gross Third Party Recoveries Outstanding | O | O | 12n |\n| 25.1 | Past economic loss | O | O | 12n |\n| 25.2 | Future economic loss | O | O | 12n |\n| 25.3 | Past medical, hospital, caring and related services | O | O | 12n |\n| 25.4 | Future medical, hospital and related services | O | O | 12n |\n| 25.5 | Future caring services | O | O | 12n |\n| 25.6 | General damages | O | O | 12n |\n| 25.7 | Interest | O | O | 12n |\n| 25.8 | Plaintiff legal costs | O | O | 12n |\n| 25.9 | Defendant legal costs | O | O | 12n |\n| 25.10 | Investigation costs | O | O | 12n |\n| 25.11 | Other | O | O | 12n |\n\n\n\n\n1Date must be DDMMYYYY, no delimiter.\n\nKey:\n\nM – mandatory field on all records from 1 July 2004.\n\nO – optional field.\n\na – alpha.\n\nn – numeric.\n\n* Fields so indicated, as a combination, must be unique for each reporting period.","sortOrder":16},{"sectionNumber":"Claims Record Data Field Definitions","sectionType":"part","heading":"Claims Record Data Field Definitions","content":"## Claims Record Data Field Definitions\n\n1. Insurer code  \n\nThis will be provided by APRA when advised of the method of delivery of the data.\n\n2. Record type  \n\n•  C for Claims Record","sortOrder":17},{"sectionNumber":"3. Status at End of Reporting Period","sectionType":"division","heading":"3. Status at End of Reporting Period","content":"### 3. Status at End of Reporting Period\n\n•                 C for Current\n\n•                 F for Finalised\n\n•                 For claims that have been reopened, code a “C”\n\n•                 S for Structured Settlement","sortOrder":18},{"sectionNumber":"4. Month of End of Reporting Period","sectionType":"division","heading":"4. Month of End of Reporting Period","content":"### 4. Month of End of Reporting Period\n\nThe data will relate to a six month period.  Code the last day of this period in this field as DDMMYYYY, e.g. insert code 30062003 for data relating to the six months ending 30 June 2003.","sortOrder":19},{"sectionNumber":"5. Class of Business","sectionType":"division","heading":"5. Class of Business","content":"### 5. Class of Business\n\n•                 PL = Public & Product\n\n•                 PI = Professional Risk","sortOrder":20},{"sectionNumber":"6. Policy Number","sectionType":"division","heading":"6. Policy Number","content":"### 6. Policy Number\n\nThe unique market reference field allocated by the Lloyd’s broker.  This information is only used for cross-referencing by APRA – it will not be published except in any individual data reports prepared for the insurer concerned.  \n\nWhere individual claims data is being provided but its associated policy data is being provided in aggregate form in the facility data file, the facility number should be used as the policy number for the claim.","sortOrder":21},{"sectionNumber":"7. Risk Number","sectionType":"division","heading":"7. Risk Number","content":"### 7. Risk Number\n\nThe broker reference field used to sub-divide accounting entries into different countries.","sortOrder":22},{"sectionNumber":"8. Claim Number","sectionType":"division","heading":"8. Claim Number","content":"### 8. Claim Number\n\nA unique identifier of a claim.  This information is only used for cross-referencing by APRA – it will not be published except in any individual data reports prepared for the insurer concerned.","sortOrder":23},{"sectionNumber":"9. Date of Loss","sectionType":"division","heading":"9. Date of Loss","content":"### 9. Date of Loss\n\nCode date on which the incident giving rise to the claim is believed to have occurred in this field as DDMMYYYY.  In cases where the actual date of loss is not known or relates to a period of time, then use the date when the claim was made or the first advice was given to Lloyd’s syndicates.","sortOrder":24},{"sectionNumber":"10. Date of Report","sectionType":"division","heading":"10. Date of Report","content":"### 10. Date of Report\n\nCode date when claim was first advised (not processed) to the Lloyd’s syndicate as DDMMYYYY.","sortOrder":25},{"sectionNumber":"11. Date Finalised","sectionType":"division","heading":"11. Date Finalised","content":"### 11. Date Finalised\n\nCode date when claim is finalised as DDMMYYYY.  This field should only be completed when all payments to the claimant(s) and any third party suppliers are believed to have been made and all recoveries expected from third parties (ignoring reinsurers) have been received.  Note that a claim may be recorded as finalised even if recoveries from reinsurers have not been received.  \n\nIf the status of the claim is Finalised, this field is mandatory.  Where the claim is not finalised this field is “blank”.","sortOrder":26},{"sectionNumber":"12. Jurisdiction of Claim","sectionType":"division","heading":"12. Jurisdiction of Claim","content":"### 12. Jurisdiction of Claim\n\nThis is the state (ACT, NSW, NT, QLD, SA, TAS, VIC or WA) where the claim has been decided by a court judgement. If the claim is decided in a federal court, input the state where the claim was heard. However, if the claim is settled out of court, then input the state where the claim was settled, i.e. the state in which the claimant’s payment is paid.\n\nWhere this information is not available, enter a hyphen (“-“).","sortOrder":27},{"sectionNumber":"13. Deductible/Excess","sectionType":"division","heading":"13. Deductible/Excess","content":"### 13. Deductible/Excess\n\nTotal of all deductibles or excesses applied to this claim in whole dollars converted to A$ using end of processing month rates of exchange.  This may differ from the amount shown in field 20 on the related exposure record.\n\nWhere this information is not available, enter a hyphen (“-“).","sortOrder":28},{"sectionNumber":"14. General Nature of Loss","sectionType":"division","heading":"14. General Nature of Loss","content":"### 14. General Nature of Loss\n\nCode the general nature of loss as\n\n•                 P = Property damage only\n\n•                 B = Bodily injury or death\n\n•                 L = Both property damage and bodily injury\n\n•                 F = Financial loss only (no physical damage or bodily injury)\n\n•                 X = Both bodily injury and financial loss\n\n•                 Y = Both property damage and financial loss\n\n•                 Z = Property damage, bodily injury and financial loss\n\nCode as a hyphen (“-“) if unknown\n\nIf 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.\n\nWhere this information is not available, enter a hyphen (“-“).","sortOrder":29},{"sectionNumber":"15. Cause of loss","sectionType":"division","heading":"15. Cause of loss","content":"### 15. Cause of loss\n\nCode one of the causes shown in the following table to the claim.  The most significant contributing factor should be identified.  \n\nWhere this information is not available, enter a hyphen (“-“).\n\n| APRA<br>Code | Claim Type – Public & Products Liability | Current ISA Code(s)<br> (for information only) |\n| --- | --- | --- |\n| ABM | Abuse/molestation | L12 |\n| ANM | Animal bite/attack/impact | L88, L16, L62 |\n| ASB | Asbestos/Dust Diseases | L14 |\n| CAT | Catastrophe, e.g. Cyclone, earthquake |  |\n| CUS | Care/custody/control | L50 |\n| COL | Collapse of building/structure/subsidence/landslide/weakening and or removal of supports/rusting/oxidation/discoloration including concrete cancer | L18, L42, L86, L40 |\n| CYF | Cyber – 1st party loss |  |\n| CYT | Cyber – 3rd party loss |  |\n| DFM | Defamation/slander | L53 |\n| DSC | Discrimination/harassment | L54 |\n| ELC | Electrocution | L21 |\n| ENV | Environmental contamination or pollution/spray/drift/ other contamination/exposure to or contact with substance/<br>Not mould or asbestos | L72, L80, L19, L24 |\n| EQB | Equipment breakdown and accidental breakage | L22, L11 |\n| EXP | Explosion and/or vibration/exposure to sudden or long-term  sound or noise/excavation/drilling damage | L23, L56, L43, L65 |\n| NEG | Failed or injurious treatment by practitioner or consultant, or negligent advice | L29, L69 |\n| FLL | Fall including from height and slip & fall | L25, L41 |\n| FPW | Faulty product/faulty workmanship | L51, L59 |\n| FIR | Fire including welding | L27, L87 |\n| IMP | Impact or damage by object/vehicle/person, including physical assault/trapped by machinery or equipment | L30, L44, L66, L37, L83 |\n| LSL | Lease liabilities | L64 |\n| LFT | Lifting, carrying or putting down objects/machinery use/repetitive or overuse injury | L63, L66, L77<br> |\n| MLD | Mould | L89 |\n| OTH | Other non-financial loss | L48 |\n| OFN | Other financial loss | L26 |\n| WTR | Water | L46 |\n| WKR | Worker to worker injury | L47 |\n\n\nTable 2\n\n| APRA<br>Code | Claim Type – Professional Risk |\n| --- | --- |\n|  | Non-performance or improper, inappropriate,  inadequate, incorrect, incomplete, inaccurate, untimely provision of : |\n| AA | Advice |\n| DA | Documentation/ administration |\n| SI | Supervision / inspection |\n| DS | Design / specification |\n| PM | Project management |\n| TE | Testing |\n| DI | Diagnosis |\n| TR | Treatment |\n| PR | Procedural |\n| ME | Medication |\n| IC | Infection control / prevention |\n| AE | Anaesthetic |\n| BL | Blood Products |\n| CO | Consent (incl. no valid consent, failure to warn, acting against patient’s |\n| APRA<br>Code | Claim Type – Professional Risk |\n|  | wishes) |\n| SE | Services other than specified above |\n| EQ | Faulty and/or inadequate / inappropriate / inaccurate / contaminated equipment  and/or premises |\n| IP | Breach of intellectual property rights |\n| DE | Defamation |\n| CI | Conflict of interest |\n| BC | Breach of confidentiality |\n| BT | Breach of trust / fiduciary duties |\n| UD | Unfair dismissal |\n| LD | Loss of documents |\n| FR | Fraud & dishonesty.  Fidelity |\n| MI | Misleading and/or deceptive advice/conduct (specifically section(s) of federal Trade Practices Act, state Fair Trading Acts and the like) |\n| AB | Assault /abuse / mistreatment |\n| HA | Harassment / discrimination |\n| SH | Sexual harassment |\n| IN | Insolvency |\n| LE | Legal expense coverage (disciplinary enquiries, investigations, inquests and the like) |\n| IT | Improper trading / collusive practices /unconscionable conduct |\n| OR | Other |\n\n\n Table 3","sortOrder":30},{"sectionNumber":"16. Body Functions of Structures Affecte","sectionType":"subdivision","heading":"16. Body Functions of Structures Affected","content":"#### 16. Body Functions of Structures Affected\n\nCode the most significant body function or structure affecting the claimant as known at the end of the reporting period.\n\n| APRA Code | Body Functions or Structures Affected |\n| --- | --- |\n| C | Cardiovascular, Haematological, Immunological and Respiratory |\n| D | Death |\n| E | Digestive, Metabolic and Endocrine Systems |\n| G | Genitourinary and Reproductive |\n| M | Mental or Nervous System |\n| N | Neuromusculoskeletal and Movement-Related |\n| P | Sensory, Pain, Eye, Ear and Related Structures |\n| S | Skin and Related Structures |\n| V | Voice and Speech |\n\n\n Table 4\n\nWhere this information is not available, enter a hyphen (“-”).","sortOrder":31},{"sectionNumber":"17. Severity of loss","sectionType":"subdivision","heading":"17. Severity of loss","content":"#### 17. Severity of loss\n\nCode the severity of the loss underlying the claim for all claims involving bodily injury where claim item 14 (General Nature of Loss) contains a bodily injury component.\n\n| APRA code | Severity of loss [acute bodily injury claims only] |\n| --- | --- |\n| L1 | Minor or mild injury to soft tissue; minor lacerations; bruising |\n| L2 | Minor or simple fractures; larger lacerations |\n| M1 | Moderate injury usually involving nerve or tissue damage |\n| APRA code | Severity of loss [acute bodily injury claims only] |\n| M2 | Serious injury involving loss of tissue, internal bleeding, ruptured tissue or organs |\n| S1 | Major injury involving brain injury likely to lead to permanent impairment |\n| S2 | Major injury involving spinal cord injury likely to lead to permanent impairment |\n| S3 | Quadriplegia |\n| S4 | Paraplegia |\n| S5 | Other major injury leading to a disability that is likely to permanently reduce the earning capacity or activity in the community of the claimant |\n\n\n Table 5\n\nWhere this information is not available, enter a hyphen (“-“).","sortOrder":32},{"sectionNumber":"18. Litigation Status","sectionType":"subdivision","heading":"18. Litigation Status","content":"#### 18. Litigation Status\n\nExtent to which case has proceeded through the legal system\n\n| APRA Code | Litigation Status |\n| --- | --- |\n| O | Claim is not litigated |\n| N | Plaintiff does not have legal representation |\n| U | Plaintiff has legal representation but the claim has not been resolved. |\n| L | Plaintiff has obtained legal advice but settlement was reached by negotiation (whether court proceedings were commenced or subsequent to a judgement but before an appeal court determination) |\n| V | Case was settled by court judgement (whether lower court or appeal court) and defendant paid judgement amount (i.e. either case was not appealed or appeal was not upheld) |\n| W | Plaintiff has legal representation and elects to withdraw the claim. |\n| X | Plaintiff has legal representation, but the case is not awarded in plaintiff’s favour |\n\n\n Table 6\n\nWhere this information is not available, enter a hyphen (“-“).","sortOrder":33},{"sectionNumber":"19. Gross Payments in the Reporting Peri","sectionType":"subdivision","heading":"19. Gross Payments in the Reporting Period","content":"#### 19. Gross Payments in the Reporting Period\n\nThe amount of the Lloyd’s share of payments made since the last reporting period, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Includes payments made to claimant and to third party service providers (medical, legal, investigation) that are attributed to the claim.","sortOrder":34},{"sectionNumber":"20. Gross Payments to Date","sectionType":"subdivision","heading":"20. Gross Payments to Date","content":"#### 20. Gross Payments to Date\n\nThe amount of Lloyd’s share of payments made on this claim since the claim was first reported, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Includes payments made to claimant and to third-party service providers (medical, legal, investigation) that are attributed to the claim.","sortOrder":35},{"sectionNumber":"21. Gross Case Estimate at Start of Repo","sectionType":"subdivision","heading":"21. Gross Case Estimate at Start of Reporting Period","content":"#### 21. Gross Case Estimate at Start of Reporting Period\n\nTotal of Lloyd’s share of all payments expected to be made in future to the claimant(s) and third party providers at the start of the reporting period, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Equals field 22 on the corresponding claim record that was submitted for the previous reporting period. Zero if this claim was first reported in the current reporting period.","sortOrder":36},{"sectionNumber":"22. Gross Case Estimate at End of Report","sectionType":"subdivision","heading":"22. Gross Case Estimate at End of Reporting Period","content":"#### 22. Gross Case Estimate at End of Reporting Period\n\nTotal of Lloyd’s share of all payments expected to be made in future to the claimant(s) and third party providers at the end of the reporting period, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange.","sortOrder":37},{"sectionNumber":"23. Gross Third Party Recoveries Receive","sectionType":"subdivision","heading":"23. Gross Third Party Recoveries Received","content":"#### 23. Gross Third Party Recoveries Received\n\nTotal of Lloyd’s share of all amounts that have been received to date from third parties in respect of the claim, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Excludes any amounts that have been received under reinsurance contracts.  Where this information is not available, enter a hyphen (“-“).","sortOrder":38},{"sectionNumber":"24. Gross Third Party Recoveries Outstan","sectionType":"subdivision","heading":"24. Gross Third Party Recoveries Outstanding","content":"#### 24. Gross Third Party Recoveries Outstanding\n\nTotal of Lloyd’s share of all amounts that are expected to be received after the end of the reporting period from third parties in respect of the claim, net of GST in whole dollars, no decimal point and converted to A$ using end of processing month rates of exchange. Excludes any amounts expected to be received under reinsurance contracts.\n\nWhere this information is not available, enter a hyphen (“-“).","sortOrder":39},{"sectionNumber":"25. Gross Claim Payments by Head of Dama","sectionType":"subdivision","heading":"25. Gross Claim Payments by Head of Damage before Third Party Recoveries (This field is not used)","content":"#### 25. Gross Claim Payments by Head of Damage before Third Party Recoveries (This field is not used)\n\nA breakdown of Lloyd’s share of the total settlement amount (converted to A$ using end of processing month rates of exchange) into the following heads of damage is required for finalised claims only. The total of items 25.1 to 25.11 must equal item 20 – Gross Payments to Date, with any rounding difference included in item 23.11 (Other).  \n\nA finalised claim is one where field 11 (date finalised) has been recorded and field 22 (gross case estimate at end of reporting period) is zero.\n\nWhere this information is not available, enter a hyphen (“-“).\n\n25.1 Past economic loss\n\n25.2 Future economic loss\n\n25.3 Past medical, hospital, caring and related services\n\n25.4 Future medical, hospital and related services\n\n25.5 Future caring services\n\n25.6 General damages\n\n25.7 Interest\n\n25.8 Plaintiff legal costs\n\n25.9 Defendant legal costs\n\n25.10 Investigation costs\n\n25.11 Other","sortOrder":40},{"sectionNumber":"Appendix A: Data Validation","sectionType":"part","heading":"Appendix A: Data Validation","content":"# Appendix A: Data Validation\n\nThe individual claim data submitted by Lloyd’s will be validated by APRA as follows:\n\n1. Gross case estimate at the start of the current reporting period (claim field 19) will be compared with gross case estimate at the end of the previous reporting period (claim field 20) for each claim with a date of report prior to the start of the current reporting period.  Any discrepancy must be explained.\n2. Gross claim payments submitted in information provided by Lloyd’s under Lloyd’s Security Trust Fund Determination No 1, less the gross payments received for all facilities, is expected to reconcile to within 5% of the gross payments for each accident year calculated from the individual claim records submitted.  Discrepancies in the most recent accident years will be compared with the amount of payments made for all facilities.\n\n\nWhile it is appreciated that more extensive reconciliation could be attempted, this could require significant changes to the existing reporting requirements to APRA or the submission of other information (such as management accounts) from insurers that would not be in standard formats.  \n\nAPRA will expect that where Lloyd’s needs to demonstrate the reason for a discrepancy between the individual records submitted to the database and its aggregate data reported to APRA in the above forms, Lloyd’s will share such additional reports with APRA as required.","sortOrder":41}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":false,"description":"This Determination replaces an earlier reporting standard and updates the form, field specifications and submission mechanics for Lloyd’s claim reporting (para 16). The core scope — collecting claim-level data for public liability, product liability and professional indemnity claims involving Australian risks — remains the same (paras 1–3 and definitions in para 17). Changes are primarily technical and procedural (file format, validation rules, inclusion of facility business in definitions, and clearer coding tables), and APRA retains discretion to alter frequency and make minor corrections (paras 7, 14). Those are operational refinements rather than a material broadening of the instrument’s substantive scope."},"complexity_factors":["Extensive record layout: ~30 distinct data items per claim (fields 1–25.11) with mandatory/optional distinctions","Multiple coded classification tables (Cause of Loss, Body Functions, Severity, Litigation Status) with many codes to map","Conditional logic for certain fields (e.g. field 11 mandatory if status is Finalised; multi-component coding rules for field 14)","Cross-references to other instruments and entities (Lloyd’s definitions in Insurance Act 1973; Lloyd’s Security Trust Fund Determination No 1 in Appendix A)","APRA discretion to change reporting periods and make targeted variations to form/specifications (paras 7, 14)","Technical submission requirements (CSV format, customer ID/password via APRA agent) and encryption/authentication steps (paras 10–12)","Validation and reconciliation requirements that trigger explanations and potential follow-up (Appendix A)","Transitional provisions referencing and preserving obligations under the old reporting standard (para 16)","Repeated duplication of definitions and instructions across the instrument (increases reading effort)","Mixed date and numeric formatting rules (DDMMYYYY, whole dollars, conversion to A$ using specific exchange rates) adding implementation detail"],"plain_english_summary":"**What this instrument does (mechanically)\n\n- Requires Lloyd’s to submit claim-level data for public liability, product liability and professional indemnity insurance to APRA using Reporting Form LOLRF 800.2 (see para 1, 2 and 5).\n- Applies to reporting periods ending on or after 31 December 2021 (para 4).\n- Sets the default reporting frequency at half‑yearly (periods ending 30 June and 31 December) but gives APRA power to change frequency or require different reporting periods for particular underwriters (paras 6–7).\n- Requires submission in CSV format via the National Claims and Policies Database website (www.ncpd.apra.gov.au) unless APRA specifies another method (para 10). Submissions must be authenticated using a customer ID and password issued by APRA’s agent (Fujitsu Australia) (para 12).\n- Requires Lloyd’s to maintain internal systems, processes and controls for review and authorisation of the data supplied (para 11).\n- Gives APRA the power to make limited, written variations to the form, coding tables or specifications to correct technical or classification issues, and requires APRA to notify Lloyd’s in writing of such changes (paras 14–15).\n- Contains a detailed field layout, coding tables and definitions for each claim record (the LOLRF 800.2 form and instruction guide, Record Layouts and Field Specifications). It also specifies a set of reconciliation/validation checks APRA will run on submitted data (Appendix A).\n\n**Who this affects\n\n- Directly: Lloyd’s (meaning Lloyd’s as defined in the Insurance Act 1973) and Lloyd’s underwriters writing public/product liability and professional indemnity business that involves Australian risks or Australian residents (para 3; definitions in para 17).\n- Operationally: Lloyd’s General Representative in Australia (responsibility for ensuring authorisation procedures and data provision, paras 11 and 12) and any internal teams that compile claims data, legal/claims accounting, and IT staff who deliver files to APRA.\n- Indirectly: APRA, market analysts and any members of the public or industry participants who use APRA’s National Claims and Policies Database (para 2).\n\n**Why it matters (stated purpose and practical effects)\n\n- APRA’s stated purpose: the data is used for prudential supervision and for publication (including in the National Claims and Policies Database) (para 2).\n- Practical effects: the measure standardises the detailed claim-level information APRA receives from Lloyd’s (fields, codes, file format and validation rules). Standardised, frequent claim-level reporting enables APRA to monitor reserving, claim trends, litigation status and exposures across specific classes (see Record Layouts and Appendix A).\n\n**Costs, incentives and implementation considerations (practical testing of the stated purpose)\n\n- Compliance costs: Lloyd’s must collect, map and deliver detailed claim-level fields (many mandatory), maintain internal authorisation policies and controls, and ensure CSV exports match the layout and code tables. Fields include dates, numeric monetary fields, coded cause and severity categories, and breakdowns for finalised claims (Record Layouts and Field Specifications; paras 11, 19–25). These impose one-off implementation and ongoing operating costs.\n- Data‑quality and IT burden: the standard requires specific file formats, unique-key combinations for records, and reconciliation expectations (Appendix A). That increases the need for data quality processes and may require system changes where legacy data is not kept in the specified granular form (paras 10, 11, Record Layouts, Appendix A).\n- Timing and cash-flow/reserving incentives: frequent, detailed reporting (default half-yearly, but APRA can increase frequency) raises the visibility of case estimates and payments. This may change insurer incentives around reserving and settlement strategies because estimates are subject to validation and comparison across reporting periods (paras 6–7, Appendix A).\n- Regulatory discretion and uncertainty: APRA can change reporting frequency and make minor variations to codes and specifications (paras 7 and 14). That gives APRA flexibility to adapt data collection, but also creates potential operational uncertainty for reporters who must implement changes on notice.\n- Publication and confidentiality: APRA will use the data for publication (para 2). While some identifiers (policy and claim numbers) are used only for APRA cross‑reference and are not routinely published according to the instruction notes, publication of aggregated or selected data may affect competitors’ access to market information and could raise confidentiality considerations for insured parties and claimants (Record Layouts and Instruction Guide).\n- Concentrated benefits and diffuse costs: the reporting primarily benefits APRA (prudential oversight) and users of the NCPD (market transparency). The compliance costs fall directly and narrowly on Lloyd’s and its representatives (paras 2, 3, 11).\n- Reconciliation and escalation: if APRA finds discrepancies in the reconciliations set out in Appendix A, Lloyd’s must explain and may have to provide additional reports. That increases post‑submission workload in some cases (Appendix A).\n\n**Key legal/technical mechanics to note (section pointers)\n\n- Who must report and what: para 3 and para 5 (what counts as a reportable claim).\n- Reporting frequency and due dates: paras 6–9.\n- Submission method and authentication: para 10 and para 12.\n- Internal quality controls/authorisation: para 11 and para 13.\n- APRA’s ability to vary forms or codes: paras 14–15.\n- Transitional reporting from an old standard: para 16.\n- Definitions and scope limits (e.g. exclusions like marine or reinsurance): para 17.\n- Detailed field list, codes and validation rules: Record Layouts, Field Definitions and Appendix A.\n\n**Bottom line**: This Determination prescribes a detailed, standardised claim-level reporting regime for Lloyd’s on Australian public/product liability and professional indemnity claims, sets format, timing and validation rules, gives APRA operational flexibility to vary frequency and minor form elements, and places implementation and ongoing data‑quality costs on Lloyd’s and its Australian representative (paras 1–17, Record Layouts, Appendix A)."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-5-of-2021","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-5-of-2021/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-5-of-2021/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-5-of-2021/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-5-of-2021/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-5-of-2021/documents"}}