Financial Sector (Collection of Data) (reporting standard) determination No. 16 of 2016 - Reporting Standard GRS 800.1 - Policy Data: Public and Product Liability and Professional Indemnity Insurance
AuthorisationAuthorisation
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Authorisation
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Reports provided by an insurer in accordance with this reporting standard must be the product of processes and controls developed by the insurer for the internal review and authorisation of the information contained in the reports. It is the responsibility of the board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data provided to APRA is in place.
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Fujitsu Australia (as agent of APRA) will provide each insurer with a customer identification number. If an insurer proposes to submit reports required by this reporting standard using the method in paragraph 7 (i.e. via the website), the insurer must apply for a password by viewing the web page referred to in paragraph 7, quoting the insurer’s customer identification number and following the instructions for applying for a password on that page. Fujitsu Australia will advise the insurer’s Chief Financial Officer of the password for the insurer. When a report is provided using the method in paragraph 7, the insurer will be required to quote its customer identification number and password. Upon successful validation of the customer identification and password a secure session will be created and the report will be encrypted before transmission.
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Despite paragraph 10, or where APRA has made a determination under subparagraph 8(a) or (b) specifying an alternate method of submission, APRA may also determine in writing that:
(a) a specified person (who need not be the Principal Executive Officer or Chief Financial Officer) of the insurer;
(b) a person holding a specified position (which need not be the position of Principal Executive Officer or Chief Financial Officer) of the insurer; or
(c) a person authorised by the insurer to use the insurer’s customer identification number and password,
may, or must, authorise (in a manner specified) information provided by the insurer under this reporting standard.