Financial Sector (Collection of Data) (reporting standard) determination No. 11 of 2010 - GRS 400 (2010) - Supplementary Reporting Information
Claims Expense — Each State and TerritorClaims Expense — Each State and Territory
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Claims Expense – Each State and Territory
Report claims expense inside Australia according to where the risk is located.
Claims expense for the purpose of this form is to be interpreted as having the same meaning as claims expense calculated and reported in GRF 310.2 Claims Expense and Reinsurance Recoveries.
Where the insurer does not have insurance business outside of Australia (i.e. claims liabilities), the following should apply:
- the total claims expense amounts for all direct classes of business on this form should agree with the aggregate amount of claims expense recorded for ‘Direct Business’ in GRF 310.2 Claims Expense and Reinsurance Recoveries; and
- the total claims expense amounts for ‘Inwards reinsurance’ on this form should agree with the aggregate amount of claims expense recorded for reinsurance in GRF 310.2 Claims Expense and Reinsurance Recoveries.