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Superannuation (prudential standard) determination No. 1 of 2022
Insurance strategyInsurance strategy
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Insurance strategy
17. In addition to complying with section 52(7) of the SIS Act, an RSE licensee’s insurance strategy for an RSE must, at a minimum, document:
(a) how the RSE licensee has regard to each of the factors in section 52(7) of the SIS Act;
(b) the processes for monitoring, reviewing and renewing the insured benefits made available to beneficiaries;
(c) the RSE licensee’s approach to claims management, regardless of who is
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6 For the purposes of this Prudential Standard, where an RSE licensee is not required under RSE licensee law to provide for opt-out insurance cover, this requirement does not apply, and ‘RSE licensee law’ has the meaning given in section 10(1) of the SIS Act.
7 ‘Reporting framework’ means the reporting standards made under the Financial Sector (Collection of Data) Act 2001.