2020-21 Index

Acronyms and abbreviations AASB Australian Accounting Standards Board AGA Australian Government Actuary AGD Attorney General’s Department ANAO Australian National Audit Office ANZIIF Australian and New Zealand Institute of Insurance and Finance AMB A.M. BEST APRA Australia Prudential Regulation Authority APSC Australian Public Service Commission ARPC Australian Reinsurance Pool Corporation ASX Australian Stock Exchange ATO Australian Taxation Office CAE Chief Audit...
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2020-21 Financial Statements

Certification Back to top Primary financial statements Statement by the Accountable Authority, Chief Executive and Chief Financial Officer In our opinion, the attached financial statements for the year ended 30 June 2021 comply with subsection 42(2) of the Public Governance, Performance and Accountability Act 2013 (PGPA Act), and are based on properly maintained financial records as per subsection 41(2) of...
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2020-21 ARPC’s People

ARPC’s People ARPC’s people make it what it is, enabling ARPC to deliver to its insurer customers. ARPC is committed to promoting diversity across all areas and is proud to support Australia’s indigenous traineeship program through Career Trackers. ARPC acknowledges the dedication and commitment of its 25 employees and thanks them for their continuing efforts. ARPC is a small organisation...
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2020-21 Governance

Governance framework ARPC’s governance framework is set out in the Terrorism Insurance Act 2003 (TI Act) and ARPC’s status as a corporate Commonwealth entity for the purposes of the PGPA Act and the Public Governance, Performance and Accountability Rule 2014 (PGPA Rule). ARPC is established as a body corporate under the TI Act (section 12) and comprises a Chair and...
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2020-21 The Terrorism Reinsurance Pool

How ARPC’s Terrorism Insurance Pool operates The pool was established on 1 July 2003 to provide eligible insurance contracts with terrorism cover for any Declared Terrorist Incident (DTI). Eligible insurance contracts are defined in the Terrorism Insurance Act 2003 (TI Act) and further refined through regulation. The Minister, in consultation with the Attorney- General, determines whether a terrorist incident has...
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2020-21 Annual Performance Statement

Annual Performance Statement This Annual Performance Statement is provided for Australian Reinsurance Pool Corporation (ARPC) as required under section 39(1)(a) of the Public Governance, Performance and Accountability Act 2013 (PGPA Act) and other applicable legislation for the 2020-21 financial year. This Annual Performance Statement accurately presents ARPC’s performance in accordance with section 39(2) of the PGPA Act and is based...
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2020-21 ARPC’s Strategy

Background ARPC is a public financial corporation established on 1 July 2003 under the Terrorism Insurance Act 2003 (TI Act) to administer the terrorism reinsurance pool (the pool). It was established following the terrorist attacks in the USA on 11 September 2001. After this event, there was a global withdrawal of terrorism insurance cover, leaving commercial property in Australia uninsured...
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2020-21 Chair and CEO Reports

From the Chair Ian Carson AM | Chair I am pleased to present the 2020-21 Chair Report for Australian Reinsurance Pool Corporation. Our thoughts are with our stakeholders impacted by the ongoing COVID-19 pandemic. We all continue to adapt in response to this terrible global event. In November 2020, we farewelled Member Karen Payne and thanked her for her service...
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2019-20 Index

Acronyms and abbreviations AASB Australian Accounting Standards Board AGA Australian Government Actuary AGD Attorney General’s Department ANAO Australian National Audit Office ANZIIF Australian and New Zealand Institute of Insurance and Finance AMB A.M. BEST APRA Australia Prudential Regulation Authority APSC Australian Public Service Commission ARPC Australian Reinsurance Pool Corporation ASX Australian Stock Exchange ATO Australian Taxation Office CAE Chief Audit...
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