Winter 2016	Under the Cover Newsletter
Under the Cover
Message from the CEO
Welcome to the winter edition of our newsletter.
I am pleased to report that John Park, our new Chief Financial Officer; Joshua Everson, our new General Manager, Governance, Risk and Compliance; and Alison Savary, our new Finance Manager, have commenced work with ARPC. This will complete the executive recruitment and appointment process which followed the transfer of our office from Canberra to Sydney. 
As part of our efforts to inform and educate the business community about who we are and what we do, I am in the process of addressing several business groups on the subject of “Terrorism Risk Management”. This presentation also includes advice and tips on how businesses can mitigate their own particular risks. The business groups include: CEDA (South Australia); the Trans-Tasman Business Circle and the American Chamber of Commerce in Australia (AmCham). 
After market consultation, the Department of Treasury has continued work on the drafting of legislation to implement the Triennial Review recommendations including the introduction of mixed-use and high value buildings to the scheme, an adjustment to cedent retentions and clarification of coverage for an event involving biological or chemical materials. However, this work is on hold pending the July Federal Election. We still expect these changes to be implemented by the second half of the year. 
Registrations have opened for our ARPC-OECD Global Terrorism Risk Insurance Conference in October. I encourage you to read the Conference article in this newsletter and to register as soon as possible. 
Dr Christopher Wallace
Chief Executive Officer

ARPC-OECD Global Terrorism Risk Insurance Conference
You are invited to register for our October Conference which will focus on existing and emerging terrorism threats and how the insurance industry and terrorism risk schemes can respond to them. After two successful international meetings on terrorism risk insurance at the OECD headquarters in Paris in 2010 and 2012, and a 2014 meeting at the US Department of the Treasury, this gathering has become a major event. Speakers include: 
The Hon Kelly O’Dwyer MP, Minister for Small Business and Assistant Treasurer;
Greg Moriaty, Counter-Terrorism Co-ordinator, Dept of Prime Minister and Cabinet;
Neil Gaughan, National Manager Counter Terrorism, Australian Federal Police;
Karen Bishop, Principal Legal Officer, Counter Terrorism & Intelligence Unit, Australian   Attorney-General's Department;
Anthony Bubulo, Research Director, Lowy Institute for International Policy;
Steve Killelea, Founder and Executive Chairman, Institute for Economics and Peace;
Hamish De Bretton Gordon OBE, Managing Director, CBRN Avon Protection Systems;
Clive Lines, Co-ordinator, Australian Cyber Security Centre;
Michael Pennell, Chief Underwriter, Australian Reinsurance Pool Corporation
Steve Coates, Chief Underwriter at UK terrorism scheme, Pool Re;
Michael Pennell, Chief Underwriter, Australian Reinsurance Pool Corporation; 
Chris MacKinnon, Lloyd’s representative in Australia; and
Chris King, Head of Crisis Management UK and Ireland, XL Catlin. 

Other speakers will include expert OECD speakers.

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Key details and how to register:
Where: The Theatre, (new) Parliament House, Canberra
When: Thursday, 06 October from 9am to 6pm followed by networking and Friday, 07 October from 9am to 2pm. 
Conference cost for General Delegates: $990 (including GST). 
To register to attend the ARPC-OECD Global Terrorism Risk Insurance Conference please click here:  
Accommodation: If you are attending the ARPC-OECD Conference, you can book accommodation at Hyatt Hotel Canberra on +61 2 6270-1234 and quote block code G-FS10. A discounted room rate of $250 per night (including breakfast) will apply. 
Please note that these rates are based on room availability so please book early to avoid disappointment. Other hotels nearby to Parliament House include: Hotel Realm; Hotel Kurrajong and Little National Hotel.

A full conference program will be available shortly. 

Insurance tragics can make a week out of it in Canberra by also registering for Reinsurance Rendezvous, which takes place on 04-05 October at Hyatt Hotel in Canberra. See here for more information. 
Reports due 
The end of the financial year has arrived, which means various reports are due to be submitted to ARPC. The table below highlights the reports required in the next three months. 
What’s due 	Due date 	
Premium returns and payments for period ending 30 June 	30 July 2016 	
Annual aggregate reports as at 30 June
•	All Risks excluding Construction Works (CW)
•	CW
•	Street Address Detail	30 August 2016 	
Annual gross written premium declarations (Non-APRA registered) for eligible and non-eligible Fire & ISR 	30 September 2016 	
Annual gross written premium declarations (APRA registered) for eligible and non-eligible Fire & ISR	30 September 2016 	

Premium returns and payments (New Tier Rates from 1 April 2016)
We take this opportunity to remind all cedents that the Tier Rates charged by ARPC increased for all eligible policies issued or renewed from 1 April 2016. An endorsement effecting this change was issued to all cedents in December 2015. The new rates are:
Tier A: 16% of gross base premium (was 12%)
Tier B: 5.3% of gross base premium (was 4%)
Tier C: 2.6% of gross base premium (was 2%)
Please ensure that your premium returns and payments are based on these new Tier Rates.
Premium returns and payments for the fourth quarter (1 April–30 June) of the 2015–2016 financial year are due by 30 July 2016. All premium returns and payments, including nil reports, must be lodged.
To submit a premium return please log into https://rise.arpc.gov.au and click on download templates. For further instructions please refer to page 27 of the RISe Cedant User Manual.
If you have any questions please contact accounts@arpc.gov.au or call +61 2 8223-6777.
Annual aggregate reports 
The annual aggregate reports are a snapshot as at 30 June, and are due by 30 August each year. When compiling these returns, please note:

•	for ‘all risks ex construction works’, we require clients to split sums insured between the building only and contents only components, clients should not be entering in the “combined building and contents” column amounts without contacting ARPC 
•	policies without a building risk, i.e. contents and/or business interruption only policies, should not be included in the ‘all risks ex construction works’ worksheet but should be included in the ‘Street Address’ worksheet. Street address data is required for the following major postcodes within tier A locations:
•	2000 in Sydney
•	3000 in Melbourne
•	4000 in Brisbane
•	5000 in Adelaide
•	6000 in Perth 

Business interruption and contents risks (even if not linked to a building) are to be included on this ‘Street Address’ worksheet.

When submitting your annual aggregate return, RISe will compare this year’s submission with last year’s. If there is a variance greater than 10 per cent, a message will appear asking you to review your submission or explain the reason for the change in exposure.

ARPC has added two extra columns to the ‘Street Address’ data worksheet, for latitude and longitude co-ordinates, please add this information where available.

To submit your annual aggregate report please log into https://rise.arpc.gov.au and click on download templates. For further instructions please refer to page 29 of the RISe Cedant User Manual.

If you have any questions please contact accounts@arpc.gov.au or call +61 2 8223-6769.

Northern Australia Insurance Premiums Taskforce
The Federal Government response to the Northern Australia Insurance Premiums Taskforce report is expected to be delayed as a result of the July Federal Election. 

Contact ARPC

Sydney Office
PO Box Q1432 
Queen Victoria Building 
NSW 1230
enquiries@arpc.gov.au 

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