Financial Sector (Collection of Data) (reporting standard) determination No. 21 of 2016 - LOLRS 800.3 - Facility Business Data: Public and Product Liability and Professional Indemnity Insurance
Reporting requirementsReporting requirements
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Reporting requirements
- If, at any time during a reporting period covered by paragraph 2, a Lloyd’s underwriter is on risk in respect of reportable facility business, Lloyd’s must report on the business, in accordance with the Data Specifications, by the time in paragraph 3.
Note: reportable facility business is defined in paragraph 16.
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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 31 December or 30 June) after that.
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A report required by paragraph 1 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 the whole of a report, or in relation to a report to the extent that it relates to a particular class of Lloyd’s underwriters, or in relation to a report to the extent that it relates to one or more Lloyd’s underwriters named in the determination (to the intent that APRA may permit the late submission of part of the report).