ARPC publishes UQ research on terrorism and violent protests

Australian Reinsurance Pool Corporation has published research by the University of Queensland exploring whether definitions of terrorism have shifted due to the social and economic disruption caused by the Covid-19 pandemic. The research paper Terrorism and Violent Protests – where do these disruptive events meet? looks at the evolving nature of violent protests and other disruptive events. The lead author...
Read more

ARPC appoints Chief Claims and Customer Officer

Dr Christopher Wallace, Chief Executive of Australian Reinsurance Pool Corporation (ARPC), has announced the appointment of Jason Flanagan as Chief Claims and Customer Officer. His role will include ARPC’s Terrorism Reinsurance Pool as well as the proposed Cyclone Reinsurance Pool, covering cyclones and related flood damage, which is intended to commence from 1 July 2022. Jason is also leading ARPC’s...
Read more

ARPC’s $3.475 billion retrocession program helps cover the economy against terrorist attacks

Australia’s terrorism insurance scheme, administered by Australian Reinsurance Pool Corporation, has renewed its retrocession* program for the 2022 calendar year. The $3.475 billion retrocession program, plus ARPC’s net assets and the $10 billion Commonwealth guarantee, provides scheme capacity in the event of a declared terrorism incident against commercial and eligible property assets, of approximately $14 billion.   “ARPC’s retrocession program encourages...
Read more

ARPC welcomes new Board appointment

ARPC 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, ARPC CEO. “He will be...
Read more

ARPC welcomes publication of risk mitigation handbook with Standards Australia

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. “The Handbook will help owners and operators of commercial buildings to identify and assess building risks linked to terrorism and other acts of extreme violence, and to...
Read more

ARPC welcomes draft legislation on Cyclone Reinsurance Pool

ARPC welcomes the Australian Government’s release of draft legislation and supporting regulations for the Cyclone Reinsurance Pool covering cyclones and cyclone-related flood damage. The Government has released a draft bill and explanatory memorandum, together with regulations and an explanatory statement, and a factsheet.  On 4 May 2021, the Government announced its intention to establish a reinsurance pool for cyclones and...
Read more

ARPC welcomes 2021 Triennial Review Report

Australian Reinsurance Pool Corporation (ARPC) welcomes the final report of the 2021 Triennial Review into the Terrorism Insurance Act 2003 (TI Act), released by the Treasury. “As a result of the 2021 Triennial Review, the Treasury recommended ARPC continue to provide terrorism re/insurance covering Australian commercial and high value residential property,” said Dr Christopher Wallace, ARPC Chief Executive. “This will...
Read more

ARPC commences research study on the evolving meaning of terrorism 

Australian Reinsurance Pool Corporation has commenced a research study with the University of Queensland (UQ) Business School on the evolving experience and meaning of terrorism in Australia and internationally. The research study, the second in a series of ARPC/UQ thought leadership papers focused on terrorism, will research how formal definitions of terrorism might evolve over time as experience emerges with...
Read more

ARPC’s 2020-21 Annual Report published

ARPC’s 2020-21 Annual Report has been tabled in Parliament. “ARPC’s Annual Report shows ARPC achieved excellent performance operationally and financially during 2020-21,” said Dr Christopher Wallace, ARPC CEO. There were 237 insurer customers covered by ARPC for terrorism risk under commercial property and business interruption policies. The ARPC pool had funding capacity for claims of $13.7 billion. This capacity was...
Read more

ARPC welcomes new Board appointment

Australian Reinsurance Pool Corporation (ARPC) has welcomed the Australian Government’s appointment of Julie-Anne Schafer to the ARPC Board as a part-time Member for a three-year term commencing 14 September 2021. ARPC administers the national terrorism reinsurance pool. Ms Schafer is a Brisbane-based director and qualified lawyer with experience across the insurance, superannuation, energy, water, transport and health sectors. She is...
Read more