The Australian Prudential Regulation Authority (APRA) has launched a public consultation to seek input on planned updates to the content and format of quarterly insurance statistical releases.
These updates are in response to recent regulatory changes, including the adoption of the Australian Accounting Standards Board (AASB17) collections and modifications to the private health insurance (PHI) capital framework, which have substantially modified the reporting landscape for insurers.
APRA is requesting feedback on proposed modifications to three key statistical reports:
The goal is to enhance the accessibility and comprehension of insurance industry data through more dynamic data representations, including tables and visualisations.
Feedback from industry stakeholders is requested by May 22, 2024. Responses should be forwarded to [email protected].
Public consultation has also opened for a comprehensive review of the 2020 General Insurance Code of Practice. Helen Rowell, the former deputy chair of APRA, led the three-member panel that steered the review.
