ARPC welcomes new Board appointment
16 Sep 2021
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 currently a Non-Executive Director at Queensland Urban Utilities, C S Energy, and Av Super. She is also President of the National Competition Council, a Treasury portfolio agency.
Her career also includes retail consumer insurance and cyclone risk experience through her past roles as President of RACQ and Chair of RACQ Insurance, and as a Non-Executive Director for the Territory Insurance Office.
Ms Schafer holds a Bachelor of Laws with Honours (LL.B. Hons) from the University of Queensland and is a Fellow of the Australian Institute of Company Directors. She is also a member of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).
Mr Ian Carson AM, ARPC Chair, said: “I warmly welcome Julie-Anne Schafer to the ARPC Board. Her deep insurance and public sector experience, coupled with her legal background, will be an asset to the ARPC Board at a time of dynamic change for the organisation.”
The full Government media release on the appointment can be viewed here.
Media inquiries: Dr Chris Wallace, ARPC CEO (02) 8223-6777 or [email protected]
Australian Reinsurance Pool Corporation is a corporate Commonwealth entity established under the Terrorism Insurance Act 2003 (TI Act). Following the terrorist events in the United States on 11 September 2001, there was a global withdrawal of terrorism insurance.
The Government was concerned that the lack of comprehensive insurance cover for commercial property or infrastructure would lead to a reduction in financing and investment in the Australian property sector.
The role of ARPC was to establish and provide ongoing administration of a pool that would provide insurance cover for eligible terrorism losses, involving commercial property, associated business interruption losses and public liability.