Document ID: chunk:federal_register_of_legislation:F2021L00344:reg:23:p4
Version: federal_register_of_legislation:F2021L00344
Segment Type: reg
Provision Reference: reg 23 (pt 4/9)
Character Range: 25651–28464

applicable then this field should contain a value with a brief description of the risk factor provided in field 17f.

17f. Other Description

If 17e contains a value, this field should contain a brief description of the risk factor of the value provided in field 17e.

18. State

For professional risks, this should be the state (ACT, NSW, NT, QLD, SA, TAS, VIC and WA) where work is done; if multi-state cover is provided, include the state where the majority of work is done. For EPL and D&O, provide the state where the head office is located. This would be expected to be sourced from data for stamp duty split purpose.

Where this information is not available, enter a hyphen ("-").

19. Postcode

Postcode of location of principal risk.  If not available, postcode of head office or postal address of policyholder.

Where this information is not available, enter a hyphen ("-").

20. Excess/Deductible/Attachment Point

How much of any claim that an insured must bear before the insurer becomes liable (in whole dollars) converted to A$ using end of processing month rates of exchange.  Where different levels exist for different causes of claim, enter the excess that is most commonly applied for such policies, or where that is not available, the minimum applied.

21. Limit of Indemnity

Insert the Lloyd's proportion of the limit of indemnity in whole dollars disregarding any excess payments by the insured converted to A$ using end of processing month rates of exchange. Where different limits exist for different causes of claim, enter the limit that is most commonly applied for such policies.

22. Nature of Insured Organisation/Occupation

For Public and Products Liability, EPL and D&O risks, use the principal classification of the business from the latest edition of Catalogue Number 1292.0 Australian and New Zealand Standard Industrial Classification (ANZSIC), published by the Australian Bureau of Statistics and available on their web site.  Provide data at the 4digit ANZSIC code level. Any reports or publications will be aggregated to the 2 digit level ANZSIC.

Residential strata owners' liability is collected under ANZSIC classification 7711- Residential Property Operators, whereas 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, use the codes provided in Attachment B except for code "OMULTI" which is only for use for facility business.

Where this information is not available, enter a hyphen ("-").

23. Coinsurance Proportion

This is Lloyd's overall percentage share of the risk to 2 decimal places (e.g. 66.66 for 66.66%).  Where there is a mid-term market change a policy may appear more than once on the file and the gross premium figures may change