Skip Ribbon Commands
Skip to main content
 
ARCHIVED CONTENT

Reporting framework for GI intermediaries

Note:

Form 701 for the period 01/01/2014 - 30/06/2014 is due on 28/07/2014.

Important: D2A 5.2 and AUSkey

From 30 May 2014, all APRA-reporting institutions will require AUSkey to submit returns via D2A. All existing digital certificates will no longer be valid after 30 May 2014.

If your GI Intermediary is currently using D2A or intends to use D2A in future to lodge Form 701, you must obtain an AUSkey from the Australian Business Register and submit an acknowledgement form to: UFIcollection@apra.gov.au.

 

Reporting Requirement

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.

Data submission

APRA provides general insurance intermediaries with software to encrypt and submit data:

Standard Business Reporting initiative

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 sbr@apra.gov.au.

Contact Us

E-mail: UFIcollection@apra.gov.au

Fax: 02 9210 3021

Write to:

Manager
UFI Data Collection
Australian Prudential Regulation Authority
GPO Box 9836
Sydney NSW 2001