Document ID: chunk:federal_register_of_legislation:F2015L00811:body:0:p12
Version: federal_register_of_legislation:F2015L00811
Segment Type: other
Provision Reference: 
Character Range: 33666–36726

Include reinsurers who provided a contract that became a previous reinsurance policy during the reporting period in item 5. Information about these reinsurance policies is also to be reported in item 4.

Item 5                       Report reinsurers who provided a previous reinsurance policy within the last 5 years in item 5. Report each reinsurer on a separate line.

                             For each reinsurer, report the name and ABN of the reinsurer in column 1 and column 2, and the type of previous reinsurance policies provided by that reinsurer in column 3.

                             The reinsurance policy types are: group insurance policy, individual insurance policy and both group insurance policy and individual insurance policy.

Previous reinsurance policy  Represents an reinsurance policy that is no longer available to the RSE licensee and for which premiums are no longer being collected, but for which the reinsurer may still be liable to pay claims.

Group insurance policy       Represents a contract between an RSE licensee and an insurance company to provide insured benefits in respect of a group of members.

Individual insurance policy  Represents a contract between an RSE licensee and an insurance company to provide insured benefits in respect of a single member.

Interpretation

For the purposes of these instructions:

     * acquired insurance means insured benefits provided to beneficiaries where the RSE licensee acquires the insurance from in insurer (refer to Prudential Standard SPS 250 Insurance in Superannuation);

     * cluster means an aggregation of policies issued by a single reinsurance provider;

     * defined benefit member has the meaning given in SPS 160;

     * defined benefit RSE means an RSE that is a defined benefit fund within the meaning given in SPS 160;

     * insurer has the meaning given in Prudential Standard SPS 250 Insurance in Superannuation;

     * reinsurer means an insurance provider that provides reinsurance cover;

     * RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act that is not a defined benefit RSE, pooled superannuation trust, eligible rollover fund, small APRA fund or single member approved deposit fund[5];

     * RSE actuary means an actuary appointed by the RSE licensee to perform functions in relation to its business operations;

     * RSE licensee has the meaning given in section 10(1) of the SIS Act;

     * self-insurance arrangement has the meaning given in the SIS Regulations and Prudential Standard SPS 250 Insurance in Superannuation;

     * SIS Act means Superannuation Industry (Supervision) Act 1993;

     * SIS Regulations means Superannuation Industry (Supervision) Regulations 1994; and

     * SPS 160 means Prudential Standard SPS 160 Defined Benefit Matters.

    [1]  For the purposes of this Reporting Standard, an 'RSE licensee's business operations' includes all activities as an RSE licensee (including the activities of each RSE of which it is the licensee),