Financial Sector (Collection of Data) (reporting standard) determination No. 3 of 2021
Record Layouts and Field SpecificationsRecord Layouts and Field Specifications
Start here
Get a plain-English read of Record Layouts and Field Specifications
Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 3 of 2021.
Facility Business Data: Public and Product Liability and Professional Indemnity Insurance
Instruction Guide
These instructions have been prepared for the purpose of defining the facility business information required to be submitted by insurers in respect of public and product liability and professional indemnity insurance. This information will contribute to a National Claims and Policy Database (NCPD) in respect of these classes of insurance. The intention is to create a database that holds information in respect of claims and policies for public and product liability and professional indemnity on a national basis. State and Territory Government insurers will also contribute to the NCPD where possible.[1]
Details of requirements in relation to reporting periods, method of submission and authorisation are set out in the Reporting Standard. The data submitted by each insurer will be validated by APRA at each reporting period. The data validation to be performed is outlined in Appendix B.
Record Layouts and Field Specifications
Facility Business Data Specifications
FacilityData
Data Item
Facility Business
Field type
1*
Insurer Code
M
6a
2*
Month of end of Reporting periods
M
8n
3*
Facility Identifier
M
30a/n
4
Industry/Occupation Code
M
6a or 4n
5*
Class of Business
M
2a
6*
Runoff Indicator
M
1a
7
Insurer’s Percentage of Facility
M
6n
8
Number of Policies
O
6n
9
Premium Received for Reporting periods
M
12n
10
Number of Claims
O
6n
11
Gross Payments Made for Reporting periods
M
12n
Date must be DDMMYYYY, no delimiter.
Part Record Layouts and Field Specifications - Financial Sector (Collection of Data) (reporting standard) determination No. 3 of 2021 - Record Layouts and Field Specifications | Zoe
* Fields so indicated, as a combination, must be unique for each reporting period.
Facility Business Record Data Field Definitions
1. Insurer Code
A unique code assigned by APRA to each contributor
2. Month of end of Reporting periods
The data for each submission will relate to a six month period. Enter as DDMMYYYY the last day of the period being reported, e.g. insert 30062004 for data relating to the six months ending 30 June 2004.
3. Facility Identifier
A unique identifier for each facility where the insurer has received in excess of $100,000 in premium or made gross payments in excess of $100,000, for each respective six month period. Facilities where the insurer has received less than $100,000 in premium or made gross payments of less than $100,000 in the six month period are to be included as one record with the identifier “Other”. If a facility was previously reported separately, but now falls below the $100,000 threshold, it can now be reported as part of the “Other” data.
4. Industry/Occupation Code
For Public and Products Liability, use the principal classification of the business from the latest edition of Catalogue Number 1292.0 Australian and New Zealand Standard Industrial Classification (ANZSIC), published by the Australian Bureau of Statistics and available on their web site. Provide data at the 4-digit ANZSIC code level. Any reports or publications will be aggregated to the 2 digit level ANZSIC.
Residential strata owners’ liability is collected under ANZSIC classification 7711 - Residential Property Operators, whereas for Commercial Property Operators it is either 7712 or the occupation code that is most closely aligned with the tenancy of the strata.
For Professional Risks, use the codes provided in Attachment B.
Occupation code “OMULTI” and code “0000” (for ANZIIC codes) should only be used for Facility Business data where a facility covers multiple industry or occupation codes, no single code can be regarded as the principal industry or occupation code and hence it is not possible or appropriate to use one of the more specific codes.
5. Class of Business
• PL = Public & Product
• PI = Professional Risk
6. Runoff Indicator
• Y = Yes
• N = No
7. Insurer’s Percentage of Facility
Your proportion of the facility, to 2 decimal places (e.g. 66.66 for 66.66%).
Blank on “Other” facilities records.
8. Number of Policies
The total numbers of policies covered by this facility, if available or else provide a “blank”.
9. Premium Received for Reporting periods
(Your share of) the gross premium from this facility during the half year. Exclude all statutory charges (FSL, GST & SD) but include others costs (commissions).
10. Number of Claims
The total numbers of claims covered by this facility for which payments have been reported in item 9 below, if available or else provide a “blank”.
11. Gross Payments Made in Reporting periods
(Your share of) of payments made for this facility since the last reporting period, net of GST in whole dollars, no decimal point. Includes payments made to claimant and to third-party service providers (medical, legal, investigation) that are attributed to the claim.
Appendix A: APRA Occupation Codes for Professional Indemnity
Building Inspector - Victorian Building Act activities only
LCHENG
Engineer – chemical
LCHSCI
Chemical Scientist
LCIENG
Engineer – civil
LCONMG
Construction Management
LCONTE
Concrete Testing & Investigation
LDSCON
Drainage Sewerage & Water Supplies
LELENG
Engineer – electrical
LELINS
Electrical Inspectors
LENAUD
Environmental Auditor
LENGDT
Engineering Draftspersons
LENVEN
Engineer – environmental
LETENG
Engineer – electronic
LFPENG
Engineer - fire protection / safety
LFSENG
Foundation & Structural Engineer
LGEEON
Engineer - geo-technical - soil testing
LGEOLO
Engineer – geological
LHAENG
Engineer – harbour
LHDENG
Hydro Electric Engineering
LHMENG
Materials Handling, Process Engineer
LHVENG
Heating/Ventilation/Air-Con
LHYENG
Engineer – hydraulic
LMAENG
Engineer – marine
LMCENG
Engineer – Metallurgical
LMEENG
Engineer – Mechanical
LMIENG
Engineer - mining / minerals processing
LNDCST
Non Destructive Testing Consul
LPCCST
Petrochem,Chemical,Natural Gas,Env Con
CODE
Occupation Description
LPEENG
Power & Energy Engineering
LPREIN
Pre-purchase Inspection Services
LPRMGR
Project Managers
LRFENG
Engineer – Refrigeration
LSFENG
Safety Engineering
LSTENG
Engineer – structural
LTELEC
Engineer – telecommunications
LTNPNR
Town Planners
LTRENG
Engineer – Traffic
LWASTE
Waste Management Consultants
LWWENG
Engineer - water treatment / sewage
M
Surveying Miscellaneous
MBLSUV
Building Surveyor
MCARTO
Cartographer
MCMSUV
Surveyors - Cargo and/or Marine
MCOSTE
Cost Estimators
MHYSUV
Surveyors – Hydrographic
MLDSUV
Land Surveyors
MQTSUV
Surveyor – quantity
MSUREN
Surveyor – Engineering
MSURMI
Surveyor – Mining
N
Defamation – misc
NFPROD
Film Producer
NJOURN
Journalist
NPUBLI
Publishers
NRADIO
Radio Broadcasters
NTVBRO
Televisions Broadcasters
O
Multiple Occupations
OMULTI
Multiple Occupations*
* Only available for facility business.
Appendix B: Data Validation
As well as unit record validation, overall reasonability checks will be carried out on each insurer’s data.
With each half-yearly data submission
Various comparisons between the current reporting period and the previous period will be carried out in order to monitor data reasonability and consistency. These may include:
• Change in the aggregate Gross Earned Premium, split by two digit ANZSIC code or single character occupation code;
• Changes in the total numbers of policies and claims;
• Counts of claims by various measures; causes of loss, severity or litigation status; and
• Changes in the average and total claims paid.
As well, various reasonability checks will be carried out within each period submission, including;
• Overuse of the various ‘Other’ categories and codes; and
• Comparison of the various premium fields against each other.
Other reasonability checks may be carried out on an ad hoc basis.