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Financial Sector (Collection of Data) (reporting standard) determination No. 73 of 2023
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| Basis for determination of H3 requirement | The insurer must select ‘gross’ if it has determined that the H3 requirement would be greater if it is based on the gross loss arising from the occurrence of a single event, when compared to the net loss arising from the occurrence of a single event.The insurer must select ‘net’ if it has determined that the H3 requirement would be greater if it is based on the net loss arising from the occurrence of a single event, when compared to the gross loss arising from the occurrence of a single event. |
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| Basis for determination of H4 requirement | The insurer must select ‘gross’ if it has determined that the H4 requirement would be greater if it is based on the gross loss arising from the occurrence of a single event, when compared to the net loss arising from the occurrence of a single event.The insurer must select ‘net’ if it has determined that the H4 requirement would be greater if it is based on the net loss arising from the occurrence of a single event, when compared to the gross loss arising from the occurrence of a single event. |
| Basis for determination of NP VR | The insurer must enter ‘gross’ if it has determined that the NP VR would be greater, if it is based on the gross loss arising from the occurrence of a single event, than the net loss arising from the occurrence of a single event.The insurer must enter ‘net’ if it has determined that the NP VR would be greater, if it is based on the net loss arising from the occurrence of a single event, than the gross loss arising from the occurrence of a single event. |