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Commonwealth legislation
This Act has been repealed and is no longer in force. It is retained for historical reference.
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.
APRA 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.
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Direct links to the current provisions in 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.
This 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.
Appendix A: Data Validation
As well as unit record validation, overall reasonability checks will be carried out on each insurer’s data.
With each half-yearly data submission
Various 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:
As well, various reasonability checks will be carried out within each period submission, including;
Other reasonability checks may be carried out on an ad hoc basis.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
This 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.
Appendix A: Data Validation
As well as unit record validation, overall reasonability checks will be carried out on each insurer’s data.
With each half-yearly data submission
Various 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:
As well, various reasonability checks will be carried out within each period submission, including;
Other reasonability checks may be carried out on an ad hoc basis.