Document ID: chunk:federal_register_of_legislation:F2021L00345:reg:23:p6
Version: federal_register_of_legislation:F2021L00345
Segment Type: reg
Provision Reference: reg 23 (pt 6/11)
Character Range: 30361–33174

recent prior year annual professional fees represented by this risk record.

17d. Total number of staff

Most recent prior year number of full-time equivalent staff members employed in the insured business or practice, whether or not members of a profession.

17e. Other

If any of 17a, 17b, 17c or 17d contains a value, then this field must be blank. However if none is applicable then this field must contain a value and a brief description of the risk factor must be provided in field 17f.

17f. Other Description

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

18. State [Required for professional risk]

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 for public and products liability, enter a hyphen ("-").

19. Postcode [Required for public and products liability]

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

Where this information is not available for professional risk, 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). 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.

For Liability XOL policies, the attachment point should be reported.

21. Limit of Indemnity

Insert your (share of the) limit of indemnity in whole dollars disregarding any excess payments by the insured.

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 (excl EPL and D&O), use the codes provided in Attachment B except for code