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.
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Dr Christopher Wallace, ARPC CEO, has warmly welcomed peak standards development body Standards Australia’s publication of the Base-building physical security handbook — Terrorism and extreme violence (HB-188). ARPC is the Project Proponent for HB-188.
Read it hereARPC welcomes the Government’s appointment of David Foster as a Member. David Foster is a Brisbane-based Non-Executive Director with a diverse portfolio of Directorships and Advisory roles. “David Foster’s appointment will benefit ARPC as he has extensive financial services experience across banking, insurance, customer strategy, technology strategy, risk management and governance,” said Dr Christopher Wallace,...
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ARPC’s 2020-21 Annual Report has been tabled in the Australian Parliament. Read it in the link below.
Read it here.A 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
