The Act

The Terrorism Insurance Act 2003 (TI Act) was enacted by the Commonwealth Government following the withdrawal of terrorism cover by insurance companies. Australian Reinsurance Pool Corporation (ARPC) was established under the TI Act to administer a reinsurance scheme, which commenced operation on 1 July 2003. Section 41 of the Act requires a review of the need for the TI Act to continue at least once every three years.

Act/Regulations

The Act was reviewed in 2006, 2009, 2012 and 2015. For more information please go to: http://arpc.gov.au/about-arpc/review-of-the-act/

Explanatory Memorandum

Ministerial Directions

  • Treasurer to ARPC (Risk Retention) Direction 2007 PDF – 113KB
  • Assistant Treasurer to ARPC (Premiums) Directions 2011
  • Minister for Financial Services and Superannuation to ARPC (Payments to the Commonwealth) Direction 2012
  • Minister for Financial Services and Superannuation to ARPC (Payments to the Commonwealth) Direction 2013
  • Treasurer to ARPC (Payments to the Commonwealth) Amendment Direction 2014
  • Assistant Treasurer to ARPC (Payments to the Commonwealth) Direction 2015
  • Assistant Treasurer to ARPC (Premiums) Direction 2015
  • Assistant Treasurer to ARPC (Payments) Direction 2016
  • Minister for Revenue and Financial Services to ARPC (Risk Retention) Direction 2017
  • Minister for Revenue and Financial Services to ARPC (Risk Retention) Direction 2018

Declaration of Terrorist Incident

  • Declaration of Terrorist Incident (15/01/2015) – Lindt Cafe, 53 Martin Place, Sydney NSW 2000