Australian Government
Australian Reinsurance Pool Corporation 

Under The Cover - Winter 2009  - No. 2009/03
IN THIS ISSUE:
•	Aggregate returns
•	Shared benefits
•	Historical patterns
•	Aggregate submission overview
•	A moment with …Kirsty Fisher
Message from the CEO
Welcome to the Winter 2009 edition of Under the Cover.
This edition focuses on the submission by clients of annual aggregate returns. The information provided in these reports is vitally important to ARPC as it provides the basis of our exposure risk modelling. The newsletter also highlights the benefits to clients of submitting their reports, including taking advantage of the information available to you through RISe.
I seek your cooperation in this area and urge you to submit your reports by the due date.
The subject of this month’s A moment with … segment is Kirsty Fisher. Kirsty’s bright and sunny disposition ensures that all visitors to Canberra office receive a warm welcome.
I hope you find the newsletter of interest. If there is an issue which you would like to see discussed in future editions, please contact Michael Pennell at (mpennell@arpc.gov.au). 

Neil E Weeks
CEO

Aggregate returns
Did you know that insurers who purchase terrorism reinsurance from ARPC are required to submit an aggregate report each year? 
Clause 10(b) of ARPC’s standard terrorism reinsurance agreement requires all insurers who purchase reinsurance from ARPC to submit an annual aggregate return. The return lists their aggregate exposures by post code split by buildings, contents and business interruptions risks. 
The lodgement date for the return is 31 August each year and it provides the aggregate information as at the previous 30 June. 
To make this process as smooth as possible, ARPC has developed RISe, an intuitive and secure system, to facilitate the submission of reports. An overview of the process is provided below.
Shared benefits
ARPC relies heavily on the aggregate submissions provided by clients. This information enables ARPC to analyse the distribution of exposure risks broadly across Australia. The following graphs display the aggregates by tier and state.
The aggregate reports also form the basis of ARPC’s current exposure model and its development. ARPC’s ability to estimate probable losses will provide the insurance industry with a level of certainty in the event of a terrorist incident, enabling you to more confidently adjust and settle claims for eligible terrorism losses. 
An additional and significant benefit to all clients is the access to online market share reports. The market share reports allow clients to view, by percentage, how they compare to the total market for the aggregate returns by post code or ICA zones for a selected submission year.
The greater the level of information provided by clients the greater reliance can be placed upon the reports.  
Historical patterns
To date the historical pattern of lodgements has been static at around 70% for the last two years. To ensure the integrity of its data, ARPC needs all clients to submit returns. This year, we are targeting a lodgement rate of 95% and will seek to improve on that rate in each subsequent year.
The following graph tracks the percentage of lodgements since 2005 and the target for 2009.
Aggregate submission overview
Steps to accessing RISe
•	Logon to RISe using your user name and password, follow the prompts to the aggregate return submission
2009 aggregate return submissions
•	Download a copy of the new aggregate return template (which you will need to use when uploading submissions) from the ‘Download Templates’ section of RISe
•	Complete your submission
•	Upload your 2009 aggregate return submission
For more information please refer to the cedant user manual available for download from ARPC’s website at http://www.arpc.gov.au/content/rise.asp?NavID=10.

A moment with … Kirsty Fisher 
Kirsty Fisher joined ARPC in December 2007 as the receptionist in the Canberra office. Kirsty is the pleasant voice which greets you when you phone the Canberra office. In addition to her receptions duties, Kirsty is kept busy working with the administration team booking travel and training and organising social functions and charity events.
Kirsty grew up in Canberra. After completing her schooling, Kirsty moved to Queensland for three years, where she completed a two year childcare traineeship. Kirsty returned to Canberra almost three years ago and continued her work in childcare before joining ARPC.
Kirsty enjoys attending live concerts and is currently learning to play the guitar. She also likes to keep fit by walking to work and playing team sports, including netball, soccer and volleyball.
One of Kirsty’s ambitions is to travel overseas and she will start with a trip to Fiji in October with partner, Dan.
Thought for the day 
The problems of the world cannot possibly be solved by sceptics or cynics whose horizons are limited by the obvious realities. We need men who can dream of things that never were.
	John Keats