General insurance intermediaries

General insurance intermediaries are Australian financial services licensees that are authorised under the Corporations Act 2001 to deal in general insurance products. Refer to the letter (below) from the Australian Securities & Investments Commission for more information.

General insurance intermediaries are required, under Part 7.6B of the Corporations Regulations 2001, 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).

The data is defined in Form 701. Information on the reporting requirements for GI intermediaries, and guidance to help entities submit forms are provided in the links below:

Form 701: Data on intermediated business with APRA-authorised general insurers, Lloyd's underwriters and unauthorised foreign insurers PDF 167.48 KB
Instruction Guide: Form 701 Instructions - Data on intermediated business with APRA-authorised general insurers, Lloyd's underwriters and unauthorised foreign insurers PDF 424.72 KB
Form: Contact person update PDF 11.05 KB
Letter: Collection of data from Australian financial services licensees about intermediated insurance PDF 126.88 KB ‧ 10 June 2010
GI intermediaries FAQ: Form 701 - Collecting data on intermediated business with APRA - Getting Started PDF 1,000.28 KB

Footnotes

    The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $10.6 trillion in assets for Australian depositors, policyholders and superannuation fund members.