ARPC’s 2023-27 Corporate Plan
ARPC’s 2023-27 Corporate Plan focuses on ‘protecting Australian communities with sustainable and effective reinsurance for terrorism and cyclone events’.
The updated plan provides an overview of ARPC’s operating environment, key priorities, activities and risks, capabilities, and how it will measure performance.
The past year was a pivotal period in ARPC’s development prompted by the launch of the Cyclone Reinsurance Pool (cyclone pool) which commenced operations from 1 July 2022. This remains a key focus over the next reporting period in which ARPC will continue to:
- develop and strengthen the terrorism reinsurance pool
- refine the cyclone pool’s operations across multiple functions
- welcome new insurer customers to the cyclone pool
- engage stakeholders across the government, insurance industry and cyclone-affected communities and
- develop the team to ensure the right skills and capabilities exist to serve insurer customers and stakeholders.
ARPC’s purpose is ‘protecting Australian communities with sustainable and effective reinsurance for terrorism and cyclone events’ while its vision is ‘a future where the Australian communities we serve are more resilient to disasters through access to affordable insurance for terrorism and cyclone events’.
ARPC will deliver on its purpose by meeting performance measures and targets set against five strategic priorities in this corporate plan. These are to:
- Deliver reinsurance for eligible terrorism and cyclone losses
- Engage and understand our stakeholders, with a focus on insurer customers to improve community outcomes
- Develop data on terrorism, cyclone and insurance climate risk to support risk mitigation
- Provide thought leadership to deliver risk insights
- Be a high performing, inclusive, customer and risk focused culture.