Document ID: chunk:federal_register_of_legislation:F2015L00811:body:0:p11
Version: federal_register_of_legislation:F2015L00811
Segment Type: other
Provision Reference: 
Character Range: 30961–33941

collected column 2;

                       * the value of reinsurance premium, gross of reinsurance premium rebate, paid to the reinsurer during the current reporting period that was: paid by the RSE in column 3; paid by the RSE licensee in column 4; and paid by an employer-sponsor in column 5; and

                       * the value of reinsurance claims paid by the reinsurer in column 6.

                   Where a reinsurance arrangement is in place and reinsurance premiums are paid from the RSE's self-insurance reserve, report in item 4.2 column 3 the premium amount and report zero in columns 2, 4, 5 and 6 where they are not relevant. In other circumstances, e.g. payment direct from an employer sponsor, all relevant columns must be completed.

ABN                Represents an unique public identifier issued to an entity registered in the Australian Business Register to be used in dealings with government.  A company registered under the Corporations Act 2001 or a business entity carrying on an enterprise in Australia is entitled to an ABN.

Associate          Represents an associate within the meaning given in s. 12 of the SIS Act.

Reinsurance cover  Represents the value of reinsurance coverage which applies to the RSE licensee.

Cover limit                  Represents the amount at which the reinsurance cover provided is capped.

Stop loss cover              Represents reinsurance which indemnifies the reinsured against the amount, subject to a specified limit, by which the reinsured's losses incurred during a specific period exceed either an agreed amount or an agreed percentage.

Catastrophe cover            Represents reinsurance which, subject to a specified limit, indemnifies the reinsured for the amount of loss in excess of a specified retention with respect to an accumulation of losses resulting from a catastrophic event or series of events.

Reinsurance premium          Represents an amount paid for the provision of reinsurance under a reinsurance policy.

Reinsurance premium rebate   Represents a rebate received from the reinsurer, in respect of reinsurance premiums paid to that reinsurer. Includes: all rebates regardless of how or to whom the rebate is paid, such as directly to the RSE licensee or an employer sponsor of the RSE.

Reinsurance claims paid      Represents payment of reinsurance claims where the claim event date may be during the reporting period or in prior reporting periods.

Previous reinsurers
Item 5 collects reinsurers with which the RSE licensee held previous reinsurance policies for members of an RSE, over a rolling 5 year period.

Reporting basis: report column 1 to column 3 as at the end of the reporting period. 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