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Financial Sector (Collection of Data) (reporting standard) determination No. 83 of 2006 - Reporting Standard GRS 310.2 (2007) Claims Expense and Reinsurance Recoveries
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 83 of 2006 - Reporting Standard GRS 310.2 (2007) Claims Expense and Reinsurance Recoveries.
This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers (foreign insurers) operating in Australia through branch operations, to report to APRA, generally on a quarterly and annual basis, claims expense and reinsurance recoveries.
This reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with Form GRF 310.2 Claims Expense and Reinsurance Recoveries (Form GRF 310.2) and the instructions to that form (which are attached and form part of this reporting standard).