This Reporting Standard sets out the requirements for the provision of information to APRA by an authorised life company in relation to its claims and disputes data. It includes Form LRF 750.0 Claims and Disputes and associated instructions.

This PPG outlines prudent practices in relation to group insurance arrangements. The main area of focus is life insurance, total and permanent disability insurance and income protection insurance provided to a registrable superannuation entity (RSE) licensee, for offering to beneficiaries. The insurer for these arrangements is usually a life company but may, for specific types of insurance benefits, be a general insurer. Many of the practices are also relevant for group insurance contracts where the policy owner is not an RSE licensee.   |  File type: PDF  |  File size: 336.21 KB

Prudential Standard LPS 220 Risk Management (LPS 220) sets out APRA’s requirements for life companies in relation to risk management. This prudential practice guide aims to assist life companies in complying with those requirements in relation to insurance risk and reinsurance management and, more generally, to outline prudent practices in relation to good life insurance risk and reinsurance management.

This Prudential Standard is designed to ensure that reinsurance arrangements of life companies are subject to minimum standards of independent oversight by APRA. To that end, it addresses the regular reporting of reinsurance arrangements to APRA, and APRA’s oversight of Referable Reinsurance Arrangements.

Prudential Standard GPS 230 Reinsurance Management (GPS 230) sets out APRA’s requirements of insurers in relation to reinsurance management. This prudential practice guide aims to assist insurers in complying with those requirements and, more generally, to outline prudent practices in relation to reinsurance management.   |  File type: PDF  |  File size: 68.24 KB

Prudential Standard GPS 220 Risk Management (GPS 220) sets out APRA’s requirements of general insurers (insurers) in relation to risk management. This prudential practice guide aims to assist insurers in complying with those requirements in relation to insurance risk and, more generally, to outline prudent practices in relation to insurance risk management.

This prudential practice guide applies to external custody arrangements (where an insurer engages an external party to act as its custodian), including arrangements with a related entity (or entities) in the same corporate group. This prudential practice guide does not apply to arrangements that either insurers or their custodians have with securities depositories, whether in Australia or overseas.   |  File type: PDF  |  File size: 87.99 KB

This Prudential Standard requires a general insurer and a Level 2 insurance group to maintain, as part of its overall risk management framework, a specific reinsurance management framework to manage the risks arising from its reinsurance arrangements.

This Prudential Standard requires a Level 3 Head to ensure that an aggregate risk exposure external to the Level 3 group does not expose prudentially regulated institutions within the group to excessive risk. The ultimate responsibility for the aggregate risk exposure policy of a Level 3 group rests with the Board of its Level 3 Head.

Prudential Standard 3PS 221 Aggregate Risk Exposures (3PS 221) sets out APRA’s requirements in relation to the aggregation of risks across a Level 3 group. This PPG aims to assist Level 3 Heads to comply with those requirements and, more generally, to outline prudent practices in relation to certain aggregation matters.  |  File type: PDF  |  File size: 503.56 KB

Prudential Standard GPS 220 Risk Management (GPS 220) sets out APRA’s requirements of insurers in relation to risk management. This prudential practice guide aims to assist insurers in complying with those requirements in relation to credit risk and, more generally, to outline prudent practices in relation to credit risk management.   |  File type: PDF  |  File size: 63.35 KB