Federal Register of Legislation
Financial Sector (Collection of Data) (reporting standard) determination No. 1 of 2021
Reporting Standard GRS 800.1 Policy Data: Public and Product Liability and Professional Indemnity Insurance
Financial Sector (Collection of Data) Act 2001
I, Alison Bliss, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:
(a) REVOKE Financial Sector (Collection of Data) (reporting standard) determination No. 16 of 2016, including Reporting Standard GRS 800.1 Policy Data: Public and Product Liability and Professional Indemnity Insurance made under that Determination; and
(b) DETERMINE Reporting Standard GRS 800.1 Policy Data: Public and Product Liability and Professional Indemnity Insurance, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of the reporting standard.
Under section 15 of the Act, I DECLARE that the reporting standard shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, on 31 December 2021.
This instrument commences on 31 December 2021.
Dated: 23 March 2021
[Signed]
Alison Bliss General Manager Data Analytics and Insights Division
Interpretation
In this Determination:
APRA means the Australian Prudential Regulation Authority.
financial sector entity has the meaning given in section 5 of the Act.
Schedule
Reporting Standard GRS 800.1 Policy Data: Public and Product Liability and Professional Indemnity Insurance comprises the document commencing on the following page.
Reporting Standard GRS 800.1
Policy Data: Public and Product Liability and Professional Indemnity Insurance
Objective of this reporting standard
This Reporting Standard sets out requirements for the provision of information to APRA relating to public liability, product liability and professional indemnity insurance policies.
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