Part 25. Gross Claim Payments by Head of Dama - Financial Sector (Collection of Data) (reporting standard) determination No. 2 of 2021 - 25. Gross Claim Payments by Head of Damage before Third Party Recoveries (This field is not used)

25. Gross Claim Payments by Head of Dama25. Gross Claim Payments by Head of Damage before Third Party Recoveries (This field is not used)

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25. Gross Claim Payments by Head of Damage before Third Party Recoveries (This field is not used)

A breakdown of the total settlement amount into the following heads of damage is required for finalised claims only. The total of items 25.1 to 25.11 must equal item 20

– Gross Payments to Date, with any rounding difference included in item 25.11 (Other).

Note:

        Data should be provided based on your share only.

        Income Tax Credits are excluded.

        The values reported should represent the cost to the insurer however the standard assumes that GST paid out on a claim will be recovered by the insurer. If no recovery is available, then the full value should be reported including GST.

A finalised claim is one where field 11 (date finalised) has been recorded and field 22 (gross case estimate at end of reporting period) is zero.

Where a claim is settled out of court, contributors should provide a reasonable estimate as to how the total claim is distributed between the Heads of Damages categories.

25.1. Past economic loss

25.2. Future economic loss

25.3. Past medical, hospital, caring and related services

25.4. Future medical, hospital and related services 25.5. Future caring services

25.6. General damages

25.7. Interest

25.8. Plaintiff legal costs

25.9. Defendant legal costs

25.10. Investigation costs

25.11. Other