Document ID: chunk:federal_register_of_legislation:F2021L00345:reg:23:p7
Version: federal_register_of_legislation:F2021L00345
Segment Type: reg
Provision Reference: reg 23 (pt 7/11)
Character Range: 32939–36169

for Commercial Property Operators it is either 7712 or the occupation code that is most closely aligned with the tenancy of the strata.

For Professional Risks (excl EPL and D&O), use the codes provided in Attachment B except for code "OMULTI" which is only for use for facility business. Where an appropriate code does not exist for the insured organisation, the first character of the appropriate industry may be used.

23. Coinsurance Proportion

Your proportion of a co-insured risk, to 2 decimal places (e.g. 66.66 for 66.66%, or 100.00 for 100%).  Advise APRA of how you record (a) turnover (b) limit of indemnity (c) premium (d) losses – 100% of the risk or just your share.  The preferred form of data submission is indicated under each individual data field in this specification.

The expected value in this field is 100.00 if no coinsurance applies to the policy.

Appendix A: Example Treatment of Exposure Records
Insurers are to provide an initial record for each policy/risk at the start of each period with additional records each time that policy/risk changes in any way in terms of its exposure.  The following sets out the expected relationship between Gross Annualised Premium and Gross Earned
Premium for your information.

Note: Start date = Term Inception Date (field 11)   Date exp from = Effective Start Date (field 12)
End date = Term Expiry Date (field 13)              Date exp to = Effective End Date (field 14)

GAP = Gross Annualised Premium (field 15a), NOT written premium. GEP = Earned Premium (field 15b).

Renewal Example

Endorsement Example

Back-dated Endorsement Example

Cancellation Example

Appendix B: APRA Occupation Codes for Professional Indemnity

CODE     Occupation Description
A        Financial Miscellaneous occupations
AABANK   Bank
AACCNT   Accountancy – Other
AACINS   Accountancy - Insolv & Aquis
AACMAN   Accountancy - Management Service
AACTAX   Accountancy - Taxation
AACTUA   Actuarial
AAUDIT   Accountancy - Audit
ABLDSO   Building Society
ABOOKP   Bookkeeping
ABSCON   IT Business Systems
ABUSBR   Business Brokers
ACHCON   Hardware Engineering/Sec/Sales
ACLHOU   Clearing House
ACMBRK   Commodity & Futures Broking
AFBDEA   Futures Broker/Dealer
ACMCON   Computer Consultants
ACOMAU   Computer Systems Auditor
ACOMPR   Computer Programmer
ACOMSB   Computer Service Bureau
ACRMAN   Credit Management Services
ACRUNI   Credit Union
ACTCON   IT Education & training
ACUSTO   Custodian
ACWCON   Web Design
ADBTCL   Debt Collection & Mercantile Agents
AFINCO   Financial Counsellors
AFNADV   Finance Adviser
AFNBRK   Finance Broking
AFNMGR   Financial Risk Management
AFPCON   Financial Planning Consultancy
AFRANC   Franchisor
AFRIEN   Friendly Society
AFUNDM   Fund Manager
AINCON   Investment Consultancy
AINDEA   Licenced Security Dealer
AINSUR   Insurance Company
AMANIN   Managed Investment Scheme
AMERBA   Merchant Bank
CODE     Occupation Description
AMORBR   Mortgage Broker
AMORMA   Mortgage Manager
AMOROR   Mortgage Originator
APFCON   Financial Planners
ASTBRK   Stock & Share Broking
ASUPAD   Superannuation fund administrator
ASUPTR   Superannuation Trustee
ATAXAG   Taxation Agency
ATSTCO   Trustee & Executor Company
ATSTSU   Trustee Services
B