Financial Sector (Collection of Data) (reporting standard) determination No. 2 of 2021
3. Status at End of Reporting Period3. Status at End of Reporting Period
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3. Status at End of Reporting Period
• C = Current
• F = Finalised
• R = Reopened
• S = Structured Settlement
A structured settlement occurs when a claim has been settled and payments are made as annuities over time, rather than in a single payment.
If a claim has been reopened and is closed again in the same period, the status should remain as finalised however there is a need to provide the updated finalised data for such a claim, such as $ paid etc. If a claim has been advised as finalised in a previous submission, has since been reopened AND is still open at the end of the current reporting period, the claim should be recorded as ‘Reopened’.