ARPC is a public financial corporation established by the Terrorism Insurance Act 2003 to administer the terrorism reinsurance scheme, providing primary insurers with reinsurance for commercial property and associated business interruption losses arising from a declared terrorist incident.
The premium charged by ARPC is determined by Ministerial Direction and is set by postcode into three tiers according to population density.
MORE ABOUT POSTCODESInsurers may reinsure the risk of claims for eligible terrorism losses with ARPC. Premiums that insurance companies pay for reinsurance to the ARPC contribute to the pool of funds available to cover claims from declared terrorist incidents. ARPC has a standard reinsurance agreement which it enters into with issuers of eligible insurance contracts.
LEARN MOREThe Treasury has commenced a Cyclone Reinsurance Pool Taskforce to consult with industry and community representatives, as well as other interested stakeholders, and develop a final design for the reinsurance pool. On 4 May 2021, the Government announced its intention to establish a reinsurance pool for cyclones and related flood damage, to commence from 1...
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This edition focuses on the policy intent of the new cyclone reinsurance pool as provided by the Australian Government so far.
Read it hereA new joint report by the International Forum for Terrorism Reinsurance Pools (IFTRIP), the UK’s terrorism pool, Pool Re, and the Geneva Association, proposes a new term, ‘Hostile Cyber Activity’ (HCA), to describe potential malicious behaviour that sits between terrorism and warfare. HCA is intended as an interim solution while the industry works towards a...
Read moreA key ARPC strategic objective is to support and promote terrorism risk mitigation. We aim to do this through: development of thought leadership research and insights; events featuring experts; support for relevant programs run by other organisations as well as the development of our own initiatives. This section of ARPC’s website will act as a portal, which will grow over time.
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The National Terrorism Threat Advisory System is a scale of five levels to provide advice about the likelihood of an act of terrorism occurring in Australia. The National Terrorism Threat Level is regularly reviewed in line with the security environment and intelligence.
For more information on the system, the current threat level and advice for the public visit www.nationalsecurity.gov.au
