Document ID: chunk:federal_register_of_legislation:F2021L00347:front:0:p2
Version: federal_register_of_legislation:F2021L00347
Segment Type: other
Provision Reference: 
Character Range: 2998–6060

APRA with the information required by LOLRF 800.2 for each reporting period, and each reportable claim made on a Lloyd's underwriter:

       (a)          made during the reporting period; and

       (b)          originally made before the start of the reporting period and that has not been settled, or was re-opened, during the reporting period.

Reporting periods and due dates

    6.             Subject to paragraph 7 of this Reporting Standard, Lloyd's must provide the information required by this Reporting Standard in respect of each calendar half-year (i.e. the periods ending 30 June and 31 December each year).

    7.             APRA may, by notice in writing, change the reporting periods, or specify reporting periods, to require Lloyd's to provide the information required by this Reporting Standard more frequently, or less frequently, or in respect of reporting periods based upon a Lloyd's underwriter's own accounting financial year for that part of the information required by this Reporting Standard relating to that underwriter, having regard to:

       (a)          the particular circumstances of a Lloyd's underwriter; and

       (b)          the extent to which the information is required for the purposes of the prudential supervision of a Lloyd's underwriter.

    8.             The information required by this Reporting Standard must be provided to APRA by no later than four months after the end of the reporting period.

    9.             APRA may grant Lloyd's an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.

Method of submission

    10.         Unless a method is notified by APRA, in writing, prior to submissions, the information required by this Reporting Standard must be rendered in comma separated values (CSV) format in accordance with the instructions in LOLRF 800.2, and must be provided electronically through the web site www.ncpd.apra.gov.au, by logging on using the relevant customer identification number and password provided by Fujitsu Australia (as agent of APRA), and following the instructions on that web site.

Quality control

    11.         The information provided by Lloyd's under this Reporting Standard must be subject to systems, processes and controls developed by Lloyd's for the internal review and authorisation of that information.

    Note: Lloyd's General Representative in Australia must ensure that an appropriate set of policies and procedures is in place for the authorisation of data provided to APRA.

Authorisation

    12.         Fujitsu Australia (as agent of APRA) will provide Lloyd's with a customer identification number.  If Lloyd's proposes to submit information required by this Reporting Standard using the method in paragraph 10 (i.e. via the website), Lloyd's must apply for a password by viewing the web page referred to in paragraph 10, quoting Lloyd's customer identification number and following the instructions for applying for a password