General insurance intermediaries are required, under the Corporations Amendment Regulations 2009 (No. 11), to provide data to APRA. These Regulations require general insurance intermediaries to provide data about their dealings in general insurance business, particularly their dealings with unauthorised foreign insurers (UFIs). General insurance intermediaries are Australian financial services licensees that are authorised under the Corporations Act 2001 to deal in general insurance products.
Letter from the Australian Securities & Investments Commission which refers to the collection of data from Australian financial services licensees about intermediated insurance business and business placed with unauthorised foreign insurers (UFIs).
The data is defined in Form 701. Guidance and assistance to help general insurance intermediaries to submit the form are provided in the form instructions.
APRA provides general insurance intermediaries with software to encrypt and submit data:
The Standard Business Reporting (SBR) initiative is a multi-agency initiative led by Treasury that will simplify business-to-government reporting in a number of ways. This will include the introduction of a single secure sign-on to submit reports to APRA and other SBR-participating government agencies. APRA will provide information to its regulated institutions in due course on the implementation of the SBR initiative, which involves all of APRA's reporting forms and will provide significant long-term benefits to institutions. For more information on SBR visit www.sbr.gov.au or email email@example.com.
Fax: 02 9210 3021
UFI Data Collection
Australian Prudential Regulation Authority
GPO Box 9836
Sydney NSW 2001