Financial Sector (Collection of Data) (reporting standard) determination No. 87 of 2006 - Reporting Standard GRS 410.0 (2007) Movement in Outstanding Claims Provision
Objective of this reporting standardObjective of this reporting standard
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Objective of this reporting standard
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 an annual basis, movement in the provision for claims liabilities.
This reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with Form GRF 410.0 Movement in Outstanding Claims Provision (Form GRF 410.0) and the instructions to that form (which are attached and form part of this reporting standard).