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Media Releases

Cyclone Reinsurance Pool Taskforce – Consultation paper and registration for updates

Posted on 21 May 2021
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

Posted on 04 May 2021
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

Posted on 09 Apr 2021
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

Posted on 19 Feb 2021
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

Posted on 18 Feb 2021
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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Aon appointed as ARPC reinsurance broker

Posted on 17 Feb 2021
ARPC conducted a scheduled tender for the provision of reinsurance broking services. As a result of that process, Aon has been appointed and will commence from 1 April 2021. Mr Mike Pennell PSM, ARPC’s Chief Underwriting Officer will oversee the transition-in and commencement of broking services to ARPC by Aon.
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ARPC farewells Member Karen Payne

Posted on 06 Nov 2020
Ian Carson AM, ARPC Chair, has thanked Karen Payne for her service to ARPC, following completion of her term as Member on 4 October 2020. She was first appointed to the ARPC Board on 5 October 2017. In May 2019, during her term with ARPC, Karen Payne was also appointed as the Inspector-General of Taxation and Taxation Ombudsman for a...
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ARPC 2019-2020 Annual Report published

Posted on 20 Oct 2020
ARPC’s 2019-2020 Annual Report has been tabled in Parliament. “The Report showcases strong operational and financial performance during the financial year,” said Dr Christopher Wallace, ARPC CEO. There were 227 insurer customers covered by ARPC for terrorism risk for commercial property and business interruption policies. The ARPC Scheme had funding capacity for claims of $13.7 billion. This capacity was provided...
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