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...
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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...
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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...
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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...
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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...
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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...
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ARPC’s 2021-25 Corporate Plan positions organisation for the future

Australian Reinsurance Pool Corporation (ARPC) has published its 2021-25 Corporate Plan, which outlines how it intends to administer the terrorism insurance pool over the next four years, including key activities, performance measures and assessment criteria. The 2021-25 Corporate Plan sets out ARPC’s five performance areas to measure the delivery of its strategic priorities: provide reinsurance for eligible terrorism losses; encourage...
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ARPC releases results of inaugural Insurer Customer Survey

Australian Reinsurance Pool Corporation today released the results of ARPC’s first survey of its insurer customer stakeholders conducted by ORIMA Research. Overall, the survey results indicated that ARPC is largely delivering on its vision, is a valuable and important partner, a trusted expert and is communicating and engaging well. In ARPC’s 2020-24 Corporate Plan, the agency said it would develop...
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ARPC welcomes 2021 Triennial Review

Australian Reinsurance Pool Corporation (ARPC) has welcomed the terms of reference for the 2021 Triennial Review of the Terrorism Insurance Act 2003 (TI Act), which will be conducted by The Treasury. The TI Act requires that a review be conducted at least once every three years to test whether market failure for terrorism insurance exists and therefore whether the Act should...
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ARPC Board appointments update

Australian Reinsurance Pool Corporation has welcomed the Government’s appointment of Elaine Collins as a Member for a further three-year term and the new appointment of Jan van der Schalk as a Member. We would like to thank Janet Torney and John Peberdy for their service to ARPC. Their terms as Members expire on 30 June 2021. Mr Ian Carson AM,...
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