Document ID: chunk:federal_register_of_legislation:F2018L01496:body:0:p5
Version: federal_register_of_legislation:F2018L01496
Segment Type: other
Provision Reference: 
Character Range: 10952–14085

following products are required to comply with LRS 750.0:
(a)          Individual and Group Insurance products and benefits, whether classed as superannuation or ordinary business, that provide the Cover Types as defined in paragraph 16.
(b)          Products providing Funeral Insurance, Consumer Credit Insurance (CCI) and Accident Insurance.
(c)          Insurance benefits that are rider benefits on investment account and investment-linked contracts, provided that they offer the Cover Types defined in paragraph 16.

    B.    Inclusions
2.             Information provided under LRF 750.0 should:
(a)          only include Australian business;
(b)          only include gross business written directly, i.e. excluding inwards and outwards reinsurance;
(c)          be reported at a total statutory fund level;
(d)          include detail on all in-force business of the Product and Cover Types included in the data collection;
(e)          include detail at the start of the Reporting Period, at the end of the Reporting Period, as well as defined movements during the Reporting Period;
(f)           include detail on all claims that were notified, received or re-opened during the defined Reporting Period, as well as claims that were undetermined at the start of the Reporting Period;
(g)          in relation to disability income insurance (DII) business only include the initial reporting and assessment of claims, and exclude any detail about claims already in the course of payment at the start of the Reporting Period; and
(h)          include all claims-related disputes that were lodged during the defined Reporting Period, as well as claim-related disputes that were undetermined at the start of the Reporting Period.
3.             Claims and disputes should be classified based on their status at the end of the Reporting period. Any developments between the end of the Reporting period and the date of the data submission should not be reflected in the data collection.

    C.    General Instructions
4.             Select the relevant insurer[3] on the cover sheet of the workbook provided by APRA.
5.             As each input cell has data validation, it is not possible to enter links to other cells or workbooks.
6.             Before final saving and submission of the workbooks, ensure that:
(a)          Any workbook multi-user sharing that may have been utilised is turned off.
(b)          The workbooks are not saved as read-only or as a compressed file, and are not password-protected.
(c)          Any links to external files are removed.
(d)          All balancing item cells are zero.
(e)          All numbers are reported as whole numbers, including where they are linked for checks to work.
7.             Rename the saved workbooks with a file name in the following format:
(a)          Format: <Insurer short name>_<end of reporting period (yyyymmdd)>_<version number>.xlsx
(b)          Example: ABC Life_20171231_v1.xlsx
8.             The workbook provides various sub-totals, measures, checks or cross-checks to review the veracity of inputted data. Insurers should utilise them to check