Document ID: chunk:federal_register_of_legislation:F2021L00347:front:0:p5
Version: federal_register_of_legislation:F2021L00347
Segment Type: other
Provision Reference: 
Character Range: 11538–13970

Special Risk policies.

    reportable claim means a claim made under a policy of product liability insurance, professional indemnity insurance or public liability insurance that was not finalised or settled by 1 January 2003, not being a claim that relates to:

       (a)           reinsurance or retrocession cover;

       (b)           marine insurance;

       (c)           domestic householder's or owner's insurance, or tenant's liability insurance, sold in conjunction with a building or contents policy; or

       (d)           an event that could neither occur in Australia nor in relation to an insured resident of Australia.

    18.         Unless the contrary intention appears, any reference to an Act, Regulation, Prudential Standard, Reporting Standard, Australian Accounting Standard or Auditing Standard is a reference to the instrument as in force or existing from time to time.

    19.         Where this Reporting Standard provides for APRA to exercise a power or discretion, this power or discretion is to be exercised in writing.

Reporting Form LOLRF 800.2
Claim Data: Public and Product Liability and Professional Indemnity Insurance

Instruction Guide
These instructions have been prepared for the purpose of defining the claim information required to be submitted by Lloyd's in respect of public and product liability and professional indemnity insurance.  This information will contribute to a National Claims and Policy Database (NCPD) in respect of these classes of insurance.  The intention is to create a database that holds information in respect of claims and policies for public and product liability and professional indemnity on a national basis.

Details of requirements in relation to reporting periods, method of submission and authorisation are set out in the Reporting Standard.  The data submitted by Lloyd's will be validated by APRA at each reporting period. The data validation to be performed is outlined in Appendix A.

Record Layouts and Field Specifications

Claim Data

                                                                    Public  &
Claims Data   Data Item                                             Products    Professional Risk   Field type1
1*            Insurer code                                          M           M                   6a
2*            Record type                                           M           M                   1a