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
Reporting requirementsReporting requirements
Start here
Get a plain-English read of Reporting requirements
Turn the raw legal text into a practical explanation grounded in 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.
Reporting requirements
- If, at any time during a reporting period covered by paragraph 2, a reportable policy of an insurer is in force, the insurer must report on the policy, in accordance with the Data Specifications, by the time in paragraph 3.
Note: reportable policy is defined in paragraph 16.
-
For the purposes of the paragraph 1, the reporting periods are the six month period beginning on 1 January 2016 and ending on 30 June 2016 and each successive 6 month period (ending on a 31 December or a 30 June) after that.
-
A report required by paragraph 2 must be provided:
(a) if the reporting period ends on 30 June – by no later than the 31 October next following the end of the reporting period; or
(b) if the reporting period ends on 31 December – by no later than the 30 April next following the end of the reporting period,
or such later time as APRA may determine in writing. APRA may determine a later time in writing in relation to all insurers, or a class of insurers, or one or more insurers named in the determination.