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Media Releases

Cyber-attacks on business threaten data, property and economy

Posted on 18 Mar 2016
Cyber attacks on Australian businesses not only threaten data, they have the potential to physically damage property and infrastructure, and therefore the wider economy, according to presentations made at a recent ANZIIF & Finity Cyber Risk Seminar in Sydney.  Seminar presenters included leading cyber risk and insurance experts such as Clive Lines, Deputy Director, Australian Signals Directorate; Christopher Mackinnon, Lloyd’s...
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ARPC welcomes Northern Australia Insurance Premiums Taskforce report

Posted on 14 Mar 2016
The Australian Reinsurance Pool Corporation welcomes the Final Report of the Northern Australia Insurance Premiums Taskforce released by the Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP on 04 March. The Taskforce was established to explore the feasibility of options to reduce insurance premiums in northern Australia, where cyclone risk has caused affordability concerns. Dr Christopher...
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ARPC’s retrocession program helps cover Australian economy against terror attacks

Posted on 16 Feb 2016
Australia’s terrorism reinsurer, the Australian Reinsurance Pool Corporation, has successfully renewed its retrocession program for the 2016 calendar year. The new $2.9 billion retrocession program plus ARPC’s capital and the $10 billion Commonwealth Guarantee, increases scheme capacity to more than $13.4 billion and requires $3.4 billion in insured losses before the Commonwealth Guarantee is exposed to claims from terrorism events.“ARPC...
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Premiums Direction 2015

Posted on 23 Dec 2015
Kelly O'Dwyer, Minister for Small Business and Assistant Treasurer, has provided a Ministerial Direction under the Terrorism Insurance Act 2003 to the Australian Reinsurance Pool Corporation outlining reinsurance premium increases and detailing how they will be calculated.
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2015 ARPC Triennial Review report released

Posted on 15 Dec 2015
The final report of the 2015 Triennial Review into the Australian Reinsurance Pool Corporation has been released today by the Treasury. ARPC CEO Dr Christopher Wallace welcomed the Review report and the certainty it provides for the ARPC and for the administration of terrorism risk insurance in Australia. “Treasury commissioned an extensive review of the global terrorism insurance market and...
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ARPC Chair re-appointed

Posted on 14 Dec 2015
The Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer MP, today announced the reappointment of Ms Joan Fitzpatrick as the part-time Chair of the Australian Reinsurance Pool Corporation (ARPC) for a further 18 months. Ms Fitzpatrick has been Chair of the ARPC Board since January 2013 and was previously a board member of the ARPC. Ms Fitzpatrick...
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ARPC Board update

Posted on 02 Jul 2015
The Acting Treasurer, the Hon Bruce Billson MP has appointed three new Members to ARPC’s Board. Ms Elaine Collins, Mr John Peberdy and Ms Janet Torney have been appointed as part-time, non-executive Members of ARPC’s Board for a three-year, period from 1 July 2015 up to and including 30 June 2018. Mr Tom Karp and Ms Marian Micalizzi have been...
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Declared terrorist incident – Lindt Cafe

Posted on 15 Jan 2015
ARPC wishes to advise that the Treasurer has announced the following incident as a declared terrorist incident for the purposes of the Terrorism Insurance Act 2003 (TI Act), with no reduction percentage. This announcement was made on Thursday 15 January 2015. Incident Detail Date Incident Code Reduction Percentage Lindt Café, Martin Place, Sydney 15 December 2014 141 not applicable *...
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