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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Cyclone Reinsurance Pool Taskforce – Consultation paper and registration for updates

The 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 July 2022 and be backed...
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ARPC ready to support new reinsurance pool

ARPC welcomes the Prime Minister’s announcement to establish a reinsurance pool scheme for cyclone and cyclone disaster flooding events. ARPC stands ready to support the Treasury Department as it completes the detailed design of the new scheme. With deep experience running a Government-backed reinsurance pool, ARPC is well positioned to engage with stakeholders in development of the new scheme. Inquiries...
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Research quantifies financial cost of business interruption linked to exclusion zones

Business interruption losses are highly sensitive to the size of an exclusion zone set up by emergency responders after a major disruptive event, such as a terrorism incident or other civil commotion, according to new research by Australian Reinsurance Pool Corporation. The application of exclusion zones can result in up to 10 times the insured loss expected from physical damage...
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ARPC’s retrocession program builds terrorism scheme’s capital strength and helps cover the economy against terrorist attacks

Australia’s terrorism insurance scheme, administered by the Australian Reinsurance Pool Corporation, has renewed its retrocession reinsurance program for the 2021 calendar year. The $3.475 billion retrocession reinsurance 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 just under $14 billion.  ...
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ARPC appoints General Manager, Governance and Compliance

Dr Christopher Wallace, Chief Executive of Australian Reinsurance Pool Corporation (ARPC), has announced the appointment of Samantha Lawrence as General Manager, Governance and Compliance. Ms Lawrence is a skilled governance professional with more than 15 years’ experience in board secretary roles, including substantial experience supporting government boards. Her last role was with Insurance and Care NSW (icare) where she was...
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