Division H3 requirement - Financial Sector (Collection of Data) (reporting standard) determination No. 73 of 2023 - H3 requirement

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H3 requirement

The following items relate to the H3 requirement.

Item 2.3	H3 requirement is a derived item and is calculated as the total over the three events (across columns 1 to 3) for:item 2.3.7
Item 2.3.1	Report the basis for determination of H3 requirement. The valid values are:gross; ornet
Item 2.3.2	Report the single event loss from H3 event amount.

The following columns are to be reported for item 2.3.3 to item 2.3.7.

Column 1	Report the amount for the first event.
Column 2	Report the amount for second event.
Column 3	Report the amount for the third event.

Item 2.3.3	Report the H3 reinsurance recoverables amount for each event.This item must only be reported if the insurer has selected ‘gross’ in item 2.3.1.The total H3 reinsurance recoverables is calculated as the sum across columns 1 to 3.
Item 2.3.4	Report the H3 aggregate offset amount for each event.The total H3 aggregate offset is calculated as the sum across columns 1 to 3.
Item 2.3.5	Report the H3 reinstatement premiums amount for each event.The total H3 reinstatement premiums is calculated as the sum across columns 1 to 3.
Item 2.3.6	Report the H3 reinstatement cost amount after the first and second events.The insurer is not required to determine a H3 reinstatement cost after the third event.The total H3 reinstatement cost is calculated as the sum across columns 1 to 2.
Item 2.3.7	H3 loss per event is a derived item and is calculated for each event as the sum of:item 2.3.2; anditem 2.3.6.less:item 2.3.3;item 2.3.4; anditem 2.3.5.The total H3 loss per event is calculated as the sum across columns 1 to 3.

H4 requirement

The following items relate to the H4 requirement.

Item 2.4	H4 requirement is a derived item and is calculated as the total over the four events (across columns 1 to 4) for:item 2.4.7

Item 2.4.1	Report the basis for determination of H4 requirement. The valid values are:gross; ornet
Item 2.4.2	Report the single event loss from H4 event amount.

Item 2.4.3	Report the H4 reinsurance recoverables amount for each event.This item must only be reported if the insurer has selected ‘gross’ in item 2.4.1.The total H4 reinsurance recoverables is calculated as the sum across columns 1 to 4.
Item 2.4.4	Report the H4 aggregate offset amount for each event.The total H4 aggregate offset is calculated as the sum across columns 1 to 4.
Item 2.4.5	Report the H4 reinstatement premiums amount for each event.The total H4 reinstatement premiums is calculated as the sum across columns 1 to 4.
Item 2.4.6	Report the H4 reinstatement cost amount after the first, second and third events.The insurer is not required to determine a H4 reinstatement cost after the fourth event.The total H4 reinstatement cost is calculated as the sum across columns 1 to 3.
Item 2.4.7	H4 loss per event is a derived item and is calculated for columns 1 to 4 as the sum of:item 2.4.2; anditem 2.4.6.less:item 2.4.3;item 2.4.4; anditem 2.4.5.The total H4 loss per event is calculated as the sum across columns 1 to 4.

Item 3	Other accumulations vertical requirement (OA VR) is a derived item and is calculated as the sum of:item 3.1; anditem 3.4less:item 3.2; anditem 3.3.
Item 3.1	Report the OA PML amount.
Item 3.2	Report the PL adjustment to OA PML amount.
Item 3.3	Report the OA reinsurance recoverables amount.
Item 3.4	Report the OA reinstatement cost amount.