Reporting Form SRF 251.0

Insurance arrangements

Instruction Guide

This instruction guide is designed to assist in the completion of Reporting Form SRF 251.0 Insurance arrangements (SRF 251.0). This form collects information on the acquired insurance arrangements of a registrable superannuation entity (RSE) and defined benefit RSE.

General directions and notes

Reporting level

SRF 251.0 must be completed for each registrable superannuation entity (RSE) and defined benefit RSE.

Reporting tables

Tables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.

The Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.

Reporting basis and units of measurement

Amounts in SRF 251.0 are to be reported as whole numbers or whole dollars.

Items on SRF 251.0 must be reported as at the end of the reporting period.

Definitions

Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).

Specific instructions

Table 1: Insurance arrangements

Report in table 1 all insurance policies, currently or previously held by the RSE licensee which:

1) Were in force at any time during the reporting period or in the 5 years prior to the start of the reporting period; or
2) For which one or more of the following activities occurred during the reporting period:
a) Premiums were paid to the insurer; or
b) Claims were received, processed or paid.
3) For the period ending 30 June 2021 only: For which one or more of the following activities occurred during the five years prior to the start of the reporting period:
a) Premiums were paid to the insurer; or
b) Claims were received, processed or paid.

Report each such group insurance policy as a separate line with a unique insurance cluster identifier.

Aggregate into insurance clusters, by insurer, all such individual insurance policies held by the RSE licensee. Report all insurance clusters that cover or covered five per cent or more of the total number of member accounts with individual insurance policies.