Document ID: chunk:federal_register_of_legislation:F2023L00583:front:0:p10
Version: federal_register_of_legislation:F2023L00583
Segment Type: other
Provision Reference: 
Character Range: 28683–32958

Asset Risk Charge type)
Other accounts payable on insurance contracts issued     Other accounts payable on insurance contracts issued reflects any other amounts due but not paid relating to insurance contracts. This may include (but is not limited to) levies, taxes, rebates, fees and commissions.

(Items subject to Asset Risk Charge type)                Other accounts payable on insurance contracts issued is netted against insurance contract assets or added to insurance contract liabilities under AASB 17.

                                                         This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.

                                                         This amount must be consistent with other accounts payable on insurance contracts issued reported in HRS 112.0.
Other accounts receivable on insurance contracts issued  Other accounts receivable on insurance contracts issued reflects any other amounts due but not received relating to insurance contracts. This may include (but is not limited to) levies, taxes, rebates, fees and commissions.

(Items subject to Asset Risk Charge type)                Other accounts receivable on insurance contracts issued is netted against insurance contract liabilities or added to insurance contract assets under AASB 17.

                                                         This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.

                                                         This amount must be consistent with other accounts receivable on insurance contracts issued reported in HRS 112.0.
Other assets subject to Asset Risk Charge                This is the value of the accounting assets that have not been reported elsewhere in:

                                                            * cash and cash equivalents;
(Items subject to Asset Risk Charge type)                   * current tax assets;
                                                            * deferred tax assets;
                                                            * derivatives (assets);
                                                            * investments in related entities (associates, joint ventures, subsidiaries);
                                                            * interest rate investments (direct);
                                                            * equities (direct);
                                                            * property (direct);
                                                            * loans (direct); or
                                                            * indirect investments.

                                                         This does not include assets in excess of the concentration limits set out in Prudential Standard HPS 117 Capital Adequacy: Asset Concentration Risk Charge or assets which are deducted from capital base of the health benefits fund or general fund such as surplus in defined benefit superannuation funds of which the private health insurer is an employer-sponsor.

                                                         Additionally, this excludes the following items from the AASB 17 balance sheet:

                                                            * insurance contract assets; and
                                                            * reinsurance contract assets.

Other liabilities subject to Asset Risk Charge           This consists of all other accounting liabilities of the health benefits fund or general fund not separately reported under deferred tax liabilities or derivatives (liabilities).

(Items subject to Asset Risk Charge type)                Additionally, this excludes the following items from the AASB 17 balance sheet:

                                                            * insurance contract liabilities; and
                                                            * reinsurance contract liabilities

Other reinsurance assets                                 This is the value of the central estimate of any asset recognised by the health benefits fund or general fund that relates to reinsurance other