Appendix - APRA Data Collection and Reporting
Contents
1. Printing Options Preview Mode Printer Run Report 4 APRA Form 701 Table 2 This is the hard copy version of APRA Form 701 Table 2 Period End Date is mandatory AFSL Licence is optional Refer below for explanation of Review column 2 Development Account BA DEV APRA702 SELECTION APRA Form 701 Table 2 Period End Date 30 06 2010 AFSL Licence Number Printing Options Preview Mode Printer Run Report Ibais User Manual Page 21 O BA Insurance Systems Appendix APRA Data Collection amp Reporting Note Review column in reports for Category C and Table 2 above indicates instances where one or more APRA codes have been determined programmatically in the absence of file held codes Any such instance should be validated by the user prior to importing the extracted data into the APRA D2A software Using the Extracted Data The extract process will create a file for each extracted AFSL Licence which is compatible with the APRA D2A application software This is in XBRL format a derivative of XML These files will be emailed to the user who initiated the extract process The filename is in the format of APRAD2A nnnnnnn ddmmmyyyy XML e g APRAD2A 999999 30JUN2010 XML is data extracted for AFSL Licence 999999 on 30 Jun 2010 It is the responsibility of the user to store these files in a safe area for the subsequent importation process Contact APRA for more information about how to2. ASIC Type ASIC Type Firstly you will be required to enter the country code of the UFI Secondly you will be required to enter the ASIC Type defined below AS d Eier w SSC pecs e Atypical Risks exempt classes High Risk i e Nuclear Terrorism Shipowners Pal Please refer to regulations for specific risks e Foreign Law placement is subject to foreign law e Customised exemption that cannot be placed in the Australia market requires application to ASIC e Not Applicable the system will either assume that no value or blank is not applicable or alternatively as part of the release process all existing records will be set to Not Applicable APRA has indicated the following order of reporting precedence this will be determined based on the Client ASIC Type first followed by the Insurer ASIC Type 1st High Value Insured 2nd Atypical 3rd Foreign Law 4th Customised If a UFI applies to more than one Insurer ASIC Type each type will need to be setup as a separate Insurer record Therefore only the Client ASIC Type will be compared to the Insurer ASIC Type to determine reporting precedence Ibais User Manual Page 13 BA Insurance Systems Appendix APRA Data Collection amp Reporting Actual Insurers Where business is placed through a foreign intermediary Ibais has mandated that the Actual Insurers on the placement be recorded The UFI reporting requirements dictate tha
3. at least in the early stages of implementation Ibais User Manual Page 3 BA Insurance Systems Appendix APRA Data Collection amp Reporting Electronic data submission system It is important that you are aware of any reporting requirement for Form 2 BAIS are upgrading bais to enable the electronic submission of this form There are certain lodgement requirements which can be obtained from hitps www apra gov au including APRA s D2A lodgement system The default security level for D2A requires users to have a security certificate provided by APRA A challenge letter must be submitted to APRA in order to obtain a security certificate The challenge letter is a letter that will need to be sent to APRA by a general insurance intermediary that wishes or is required to submit data electronically using D2A The challenge letter identifies the general insurance intermediary the individual who will be responsible for lodging data using D2A and the individual authorising them to lodge the data on behalf of the general insurance intermediary The security certificate facilitates the secure transfer of information to APRA A security certificate allows APRA to identify and authenticate an individual in an organisation and will be necessary for the use of D2A A security certificate is needed to download and decrypt forms from APRA and to encrypt and send data to APRA Security certificates will not be issued without a challenge le
4. Percentage Sub Agent Commission amp Rebate Refund Brokerage Add On Charges Premiums Reinsurer Premium Gross Maintain Sales Analysis By Risk Class Maintain Policy Hist Cross Reference for Risks Insurance Company Creditor Income Accrual Method Claim Number Format Allow Policy Copy from Remote Account Statutory Charge Calculations Included in Calc GST VAT Base Premium Statutory Charge1 Statutory Charge2 O Policy Fee Add On Charges lt 2 User wilp Account BA DEV Form BKP RMS A10 DESIGNER gj P ProRata Broker s Fee Rebate Amount Brokerage Subagent Commission Transaction Fee Allow Agent Income Reporting Executive Team Checking Required Start Date Maximum Days In Future Insurance Company Prefix APRA Data Collection GST VAT S S S S s f Trusted sites fy Q125 Ibais User Manual Page 5 BA Insurance Systems Appendix APRA Data Collection amp Reporting Record the APRA supplied AFSL Licence Number in Company Branch Master which is available from the All Options menu under Administration Maintenance Company Branch Note that the AFSL Licence MUST match the supplied code exactly as it will be validated later during the import process D2A Development Account DA DEN Company Branch Microsoft Internet Explorer provided by BAIS Pty Ltd E ex G ey h e http 192 168 199 105 baweb webmain asp Bing Bi Fil
5. periods Ibais User Manual Page 7 BA Insurance Systems Appendix APRA Data Collection amp Reporting Development Account DA DEN Apra Parameter Maintenance Microsoft Internet Explorer provided by BAIS Pty Ltd Go http 192 168 199 105 baweb v Ries o Bing File Edit View Favorites Tools Help r Favorites 88 T Development Account BA DEY Development Account B X E Ze C dh Page Safety Tools 6 DesignBais Editor DesignBais Help Change Password Account Selection Run a Form Logout Favorites d APRA Parameters sem Ji cer Account to Extract Bd Accounts Insurers to Exclude EB FA BA DEV PA UFI PA BA TEST 1 OSINT PA PULSE TEST AFSL Licence Numbers i AFSL Names APRA Consolidation Code ABN X Cobr 00 BA DEV Consol Code 00 BA DEV 12332112321 Sd 1234567 BA TEST Testing 333333333 66666666666 4 999999 BAIS Classified Test Facility 413856987 79635582658 4 888888 Live Test Area 444444444 55555555555 Period Ranges E Start Date End Date 01 05 2010 30 06 2010 01 07 2010 31 12 2010 01 01 2011 30 06 2011 01 07 2011 30 06 2011 01 01 2012 30 06 2012 01 07 2012 31 12 2012 01 01 2013 30 06 2013 1 User wilp Account BA DEV Form BKPARAMS_APRAPARMS f Trusted sites K A125 There are a number of master file changes reguired to enable the APRA reporting system including Client master file Insurer master
6. submit the required forms in hard copy email Table 1 only or via APRA s D2A software application Ibais User Manual Page 22 BA Insurance Systems Appendix APRA Data Collection amp Reporting Report Samples APRA Audit Listing B Development Account BA DEV Page Control Completed KM 4 bb Search Search Next Actions REP 15524 145224 actions APRA Form 701 Audit listing Category B Lloyds Underwriters eme AFSL Licensee Name Reporting Period End Date APRA Test Entity Name 30 06 2010 BAIS Policy Transaction Type Client Memo No Cor moke No TraniD invoice Date Emectne Date This period Afer period Beforeperiod TotalPremium Currency insurer code Premium Premium Premium of Premium 08110029 BKAPRADET R10 APRA Form 701 Audi listing Ibais User Manual Page 23 O BA Insurance Systems Appendix APRA Data Collection amp Reporting APRA Form 701 Table 1 1 Development Account BA DEV Page Control Completed Page B of 3 HA bb search Search Next Actions REP 15524 145143 actions v B A Insurance Systems P L Run time 02 JUL 2010 14 33 APRA Form 701 Table 1 P Australia business number Australian financial services licensee name 79635582658 APRA Test Entity Name BAIS AFSL Licence Number Reporting Period End Date Table 1 Aggregate data on intermediated business with APRA authorised general insurers Lloyds underwriters and unauthorised foreign
7. 10 DESIGNER f Trusted sites fa 8125 c Mm O Inbox Microsoft Out Development Accoun DesignBais 192 168 amp TTWIN default pred DN Documenti Microsof GR 12 52PM Ibais User Manual Page 6 O BA Insurance Systems Appendix APRA Data Collection amp Reporting Establish APRA parameters in All Options gt APRA Parameter Maintenance Account to Extract Insurers to exclude AFSL Licence Numbers AFSL Names APRA Consolidation Code ABN Period Ranges This provides you with the ability to consolidate the extract by combining data from multiple accounts Most bais users will have only one database listed here Enter an insurer code to exclude all transactions from the extract This will automatically prompt with the valid AFSL Licences for each Company Branch in each nominated account AFSL Licence Numbers are checked by the APRA D2A import software The AFSL Name will default to show which CoBr and Account applies Change these to show the correct AFSL Licensee Names This is a code supplied by APRA This MUST be entered exactly as supplied by APRA as it will be validated by the APRA D2A import software The ABN Number relative to each AFSL Licence Number should be entered without any spaces ABN Number will be validated by the APRA D2A import software These are the APRA reporting periods as stipulated by APRA The dates in the example currently conform to the mandatory reporting
8. Collection Gleis er Development Account BA DEV Global System Parameters Microsoft Internet Explorer provided by BAIS Pty Ltd Go Ki e http 192 168 199 105 baweb webmain asp File Edit View Favorites Tools Help 4 X B Bing m I gd Page Safety Tools z D e Development Account BA DEV e Development Account BA DEV e Development Account BA DEV e Development Account B X Favorites Add Field Fast Properties Multivalues Updating Enquiry Sections Tab Index Delete Field Insert Row Col Delete Row Col Editor Undo Test On Off Save Submit Field List DesignBais v51 Global System Parameters Parameter Record Description BK CONTROL PARAMS End Of Month In Progress Not in Progress v WEB Transactions Allowed Yes Inc Sunrise v Allow Change Of Debtor In Endorsement oO Prorata Brokerage Earned Y Policy Class v No Default Update Trust Accounting Memorandum Number Format Corporate Division Source of Company Branch No region Client no chg Use Placing Slip Versioning Derivation of Division Code Derivation Of Policy Number Consolidated Clients F 3 00 of Brokerage Consolidated Insurers g Withholding Tax Indicator Withholding Tax Percentage For Insurance Company 0 000 Credit Card Payment Withholding Tax
9. IS Classified Test Facility 413856987 79635582658 AFSL Cobr 01 BA DEV Consol Code 01 BA DE 12332112321 888888 Live Test Area Zi 55555555555 BLANK Cobr 1 BA DEV Consol Code 1 BA DEV UFI OSINT Ibais User Manual Page 25 O BA Insurance Systems Appendix APRA Data Collection amp Reporting APRA Audit Listing Category C Page W of 11 HA bb Search Search Next Actions REP 15524 145192 actions APRA Form 701 Audit listing for Category C only UFI s oh Sorte car 79635582658 APRA Test Entity Name 30 06 2010 BAIS iet BATEST Policy Transaction Type Clieetcode Memocode APRA class of business na Co r invoice No Policy TraniD 10050005 0 114588 10050005 0 Atypkal Space 114588 ANGLO AMERICAN INSURANCE CO LTD 10050007 0 LLOYDS AMERICAN Not Applicabi 114590 AMERICAN HOME ASSURANCE COMPANY 10050007 0 J LLOYDS ARAB Atypical Space 114590 ARAB INSURANCE GROUP B S C 10050007 0 i LLOYDS BRITISH Not Appiicabi 114580 BRITISH amp EUROPEAN REINSURANCE CO LTD 10050007 0 LLOYDS ANGLO Aypkal space 114590 ANGLO AMERICAN INSURANCE CO LTD 10050008 0 PWINTER ARAB HM 114591 ARAB INSURANCE GROUP B S C 10050008 0 L PWINTER ANGLO HM ANGLO AMERICAN INSURANCE CO LTD PWUWRUFI HM PW UWR OS UFI FOREIGN B PWINTER WABBIT Aypkal Space WaDDR Pwotection Pwy Wt PAINTER ARAB Atypkal Space ARAB INSURANCE GROUP BSC AZ PAINTER WABEIT Aypkal Space WabbR Puotection Pwy Wd AG P
10. UFI Placement The available Placement Types identified as part of the legislation changes are Mandatory Supporting Insurer Details This flags that Supporting Insurer details will be mandatory when processing a policy It will not be possible to leave blank and advise at a later time See instructions for setting up Actual Insurers as these will be required if this option is selected General Insurer Placement This flag indicates that all placements are underwritten 100 with APRA authorised general insurers This option is not allowed where the Overseas Insurer Flag is set to Y Lloyds Placement This flag indicates that all placements are underwritten 100 with Lloyds cover holders UFI Placement This flag indicates that all placements are underwritten 100 with a UFl s If a general insurance intermediary places with a mixture of general insurers Lloyds or UFI s then the first option Mandatory Supporting Insurers should be used Where the General insurance intermediary is flagged as Foreign the data collected will be represented based on the Placement Flag of the Supporting Insurer s Ibais User Manual Page 12 BA Insurance Systems Appendix APRA Data Collection amp Reporting Unauthorised Foreign Insurer Where the entity is identified as a UFI you will be required to complete additional information APRA Details APRA Category Unauthorised Foreign Insurers Country Select Country
11. WINTER WABBIT Atypical Space WEE Pwotection Pwy Wid AG 5 5 5 E PWINTER WABBIT Aypkal Space Want Pwotection Pwy Wt AG PAINTER ARAB Atypkal Space ARAB INSURANCE GROUP BSC AZ PWINTER ARAB Atypkal Space ARAB INSURANCE GROUP B C AZ PAINTER ARAB Atypkal Space ARAB INSURANCE GROUP 8 C AZ PWINS Aypkal Space PW TEST OS UFI CUSTOM mz BKAPRATO2ZIAPRATO2 AUDIT APRA Aud Listing Cat C Page 100f 11 Ibais User Manual Page 26 O BA Insurance Systems Appendix APRA Data Collection amp Reporting APRA Form 701 Table 2 K 4 bb Search Search Next Actions REP 15524 145155 actions APRA Form 701 Table 2 Run time 02 JUL 2010 14 38 APRA Test Entity Name 30 06 2010 Currency ui UFI Name BKAPRATO2 APRATO2 APRA Form 701 Table 2 Ibais User Manual Page 27 O BA Insurance Systems
12. al premium for all insured s must be recorded as one transaction This reporting process will cover both UFI and non UFI business So even if you have not placed business with a UFI in the reporting period this report must be provided The second report Form 701 Table 2 requires additional reporting of transaction level data for all policies placed with an UFI in the relevant period It will only need to be given if business is placed with a UFI in the relevant period This report must include the required transactional details for every general insurance policy placed either directly or indirectly with a UFI in the relevant reporting period The transactional data that is required is the policy transaction type client code policy code invoice date and effective date APRA class of business premium currency of premium UFI name UFI country code and the relevant DOFI exemption type or types including for the customised exemption the exemption reason Ibais User Manual Page 2 BA Insurance Systems Appendix APRA Data Collection amp Reporting Reporting Timetable The first reporting period under the Regulations will be 1 May 2010 to 30 June 2010 After that reporting will be on a bi annual basis for the periods of 1 January to 30 June and 1 July to 31 December each year Reports must be lodged within 20 business days of the end of the relevant reporting period However APRA has indicated that it will allo
13. bais INSURANCE AIS bs Appendix Broking Adminstration APRA Data Collection and Reporting Ibais User Manual O BA Insurance Systems Appendix Table of Contents APRA DATA COLLECTION AND REPORTING hat reina 1 oii 1 WHAT DATA MUST BE REPORTED sr revenfeniutu Erniatatite tutu ann ent eae DUE Eras tete senda etant ee s Fed San EVE 2 REPORTING TIMETABLE ee 3 Nescis dB EE 3 EIS TAM B RR RRRCRRRRRRMRNCH ERRERP 3 ELECTRONIC DATA SUBMISSION SvSTEM emm eeR hne henrhre tren rie trei rre trei rie trei ris rre LKR spernere rna tkan 4 PRELIMINARY WORK TO BE COMPLETED IN BAIS ccceecceceeeccececeeceecauccaceceecceauecueeaueceeeauecueeaueceeeaueseeeaeesess 4 Establishing Global controls EE 5 SCIENT TEE 9 INSURE MASTER EE 11 GENERAL INSURANCE INTERMEDIARY eebe EE 12 UNAUTHORISED FOREIGN INSURER en ee ee one 13 PG D S TE 14 POLICY AND RISK CLASS le 15 BAIS TRANSACTIONS RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRMMMMEMEMMKMFS8SRMN 16 Capturing APRA Details in Transactions ss 16 PRE OS sade adntscongeesiaeestececnueee 17 APRA BRON a aa e RE NE Ed 19 Using th Extracted BURNER UT nes 22 Report Samples cccccccscsseeseeecessccceessaseeeeesccccesseerceenssecceseeeeeeencenccuseeteceesscscessseeeeecenanecesseeeeees 23 Ibais User Manual BA Insurance Systems Appendix APRA Data Collection amp Reporting APRA Data Co
14. e Edit View Favorites Tools Help E o e a rw E z Favorites eai E Development Account BA DEV e Development Account BA DEV e Development Account BA DEV e Development Account B X ta H 7 e v Page Safety Tools Add Field Fast Properties Multivalues Updating Enquiry Sections Tab Index Delete Field Insert Row Col Delete Row Col Desi gn Bais v51 Field List Editor Undo Test On Off Save Exit Company Branch Master r Co Br 0 MBE N T CEE Company Code 0 Default Company Co Br Name B A Insurance Systems Pty Ltd 317 Pacific Highway Co Br Phone 9934 1800 North Sydney NSW 2060 Fax Telex No 9934 1801 Fax Telex Address 73606 LAMBR HX AFSL Licence 999999 ABN Number 79635582658 A C N 058 986 799 Region Code No region Sales Tax Exempt No Division No Code Debtors Statement Overlay Local Bank Code 050 Blank Account Creditors Statement Overlay BPAY Ledger Alternate Currency French Pacific Francs Deft Broker Id 499996 Do You Wish To Have Separate Postal And Delivery Addresses Y N Postal Address PO BOX 899 Delivery Address 317 Pacific Highway North Sydney North Sydney NSW 2060 NSW 2059 Overriding Documents Office Copy Invoice Office Copy Memorandum ZS 2 User wilp Account BA DEV Form SCCOBR A
15. eral insurance intermediary placed indirectly through another general insurance intermediary with either i AP RA authorised general insurers ii Lloyd s underwriters or ii UFls 2 Development Account BA DEV APRA Audit report selection APRA Form 701 Audit listing Category A B C or D IB Period End Date 30 06 2010 AFSL License Account Printing Options Preview Mode Printer Run Report 2 APRA Form 701 Table 1 This is the hard copy version of APRA Form 701 Table 1 It will automatically be followed by APRA Extract Information below which indicates the selection used for the entire Extract for the Period End Date Period End Date is mandatory AFSL Licence is optional 3 Development Account BA DEV APRA701 SELECTION APRA Form 701 Table 1 Period End Date 30 06 2010 AFSL Licence Number Printing Options Preview Mode Printer Run Report Ibais User Manual Page 20 O BA Insurance Systems Appendix APRA Data Collection amp Reporting 3 Audit Listing for Category C This is an audit report showing information relevant only to the collection of data for the Table 2 content of Form 701 Period End Date is mandatory AFSL Licence is optional Refer below for explanation of Review column 3 Development Account BA DEV APRA702 AUDIT SELECTION APRA Form 701 Audit report Category C Period End Date 30 06 2010 AFSL Licence Number
16. file Actual Insurers Policy class and Risk class The following sections outline these changes Ibais User Manual Page 8 O BA Insurance Systems Appendix APRA Data Collection amp Reporting Client Master Changes need to be made to the client master only if you use Unauthorised Foreign Insurers UFI If you use UFI s then you will need to complete an extra field to show the ASIC Type Client Maintenance Client Number ANTZ prof antz in pantz B A Insurance Systems Pty Ltd Trading Name prof antz in pantz Business Number 3562 2367 2367 Search Key Ant z ABN 00 111 222 333 Classification Code 0111 Plant Nurseries AFSL Code Currency auo Australian Dollars Registered For GST Taxable Postal Address 233 JAMES ST GST Registration No gg 111 222 333 Sydney NSW 2000 Input Tax Credit 95 100 00 Sales Tax Exempt V Tax No 223 322 777 8 Suburb SYDNEY Postal Code Head Office Account No Telephone No Fax 02 9999 0111 Mobile Phone 0412 333 555 Business Phone 02 3299 0032 Client Details A Insured Name Short prof antz in pantz Insured Mame Full Ant z amp Pantz Clothing Co Ltd Debtor Operations Division GEN GENERAL VIP Desc FSRA Client Mon FSRA Client e Consolidated To ZUELLIG Zuellig Group Service Tax v Associate Code ABC ABC Trading Group Stamp Duty Exempt F Executive ANDS Sheralyn Andrews Forced Fee Exempt F Alt Executive Commenced 19 06 2005 Introduced By ANDS Sheralyn Andrews Pro
17. insurers FA A ti jod Effective this Effective after the Effective before Total invoiced this end period start Business placed directly by the general insurance intermediary with APRA authorised general insurers Business placed directly or indirectly through a foreign intermediary by the general insurance intermediary with Lloy s underwriters Business placed directly or indirectly through a foreign intermediary by the general insurance intermediary with unauthorised foreign insurers Business placed indirectly through another general insurance intermediary by the general insurance intermediary with i APRA authorised general insurer or ii Lloyd s underwriters or iii unauthorised foreign insurers LENIN MN SN NEC Ibais User Manual Page 24 O BA Insurance Systems Appendix APRA Data Collection amp Reporting APRA Extract Information automatically follows APRA Form 701 Table 1 2 Development Account BA DEV Page Control Completed Page H of 1 K 4 b PI Search Search Next Actions REP 15537 150972 actions B A Insurance Systems P L Prepared 15 JUL 2010 12 41 X APRA Extract Run Information 9 Period Start Date Period End Date Create D2A Import File Extract Date 14 07 2010 e 17 B A I S Extracted by User wilp BA DEV 000001 Cobr 00 BA DEV Consol Code 00 BA DE 12332112321 BA TEST 1234567 BA TEST Testing 333333333 66666666666 PULSE TEST 999999 BA
18. llection and Reporting Overview On 16 December 2009 changes were introduced to the Corporations Regulations to put in place data collection and reporting obligations for AFS licensed general insurance intermediaries These changes result in the provision of data to the Australian Prudential Regulation Authority APRA that will assist it to better understand the role of unauthorised foreign insurers UFls and Lloyd s in the Australian market and to assess the extent of reliance on the exemptions to the prohibition on placement of insurance with direct offshore foreign insurers DOFI exemptions by Australian insurance brokers APRA will collect this data on behalf of ASIC All AFS licensees authorised to deal in general insurance products have an obligation to provide APRA with the required data Important note All information provided is correct as at 13 April 2010 to the best of our knowledge Please confirm any details with your compliance officer before relying on this information Ibais User Manual Page 1 BA Insurance Systems Appendix APRA Data Collection amp Reporting What Data must be Reported The Regulations require AFS licensees to collect and provide data in either one or two reports forms The submission of form 2 is only required if the licensee has placed business with a UFI in the relevant reporting period The first report Form 701 Table 1 requires all AFS licensees who deal in general insurance to pr
19. ng Client Renewable Brief Detail The red dot indicates this is pan of Zeg a compulsory section Invoice Text APRA Details gt o FSRA Documents Premium INTER Premium Funder Do not prefhium fund Print Preview P Click on the button to complete the APRA details The APRA details screen appears Ibais User Manual Page 16 BA Insurance Systems Appendix APRA Data Collection amp Reporting e Ibais Pulse Test APRA Data Collection Details APRA Details Insured PIGOUT Harry and Mary Smith t as Pig Out Cafe Actual Insurer BH zas L Custom Customised Reason E Insurer Insurer Name APRA Category ASIC Type Customised Reason BB Item Risk Class Description APRA Class of Business Atypical Class Number BB e Not Applicable The specific reguirements of this screen will vary depending on the APRA category of the client and or insurer and the Policy and Risk Class Select the appropriate responses and Accept The Extract Process Every financial transaction will be evaluated to determine what information is gathered at the time of processing This data is validated before the transaction is accepted and will be stored and used to provide default data to the actual extract process which follows APRA Reporting Extract This process is run from the All Options menu Administration gt Broking Statutory Reporting APRA Reporting Extract The Account
20. ovide details of the premium invoiced in the relevant reporting period for insurance business placed in the following categories e With APRA authorised insurers directly box A in table 1 e With Lloyds either directly of through a foreign non AFS licensed intermediary box B in table 1 e With a UFI either directly of through a foreign non AFS licensed intermediary box C in table 1 e Indirectly through another intermediary including a non AFS licensed intermediary with either an APRA authorised insurer UFIs or Lloyd s underwriters box D in table 1 So in other words for this category all business that is not placed directly with an insurer will be included This information does not need to be within the categories The premium that must be reported is the premium excluding FSL GST IPT and stamp duty However the premium recorded must include commission but not fees Other amounts charged by insurers or brokers such as survey costs must not be included Also the premium invoiced must be recorded in the following separate categories by reference the policy effective date Policy effective in the reporting period Policy effective after the reporting period Policy effective before the reporting period Total invoiced in the reporting period Where there is coinsurance only the premium paid to the UFI should be included in the reported premium If a policy covers more than one insured who are invoiced separately the tot
21. posal Form Receipt Subagent ACE4 ACEIRM ASIC Type Atypical SE Types Not Applicable Atypical Choices for this dropdown are shown in the panel to the left Ibais User Manual Page 9 BA Insurance Systems Appendix APRA Data Collection amp Reporting The available ASIC Types identified as part of the legislative changes are High value Insured Applies to all corporations partnerships or trusts that has total group operating revenue or assets of 200 million or more or employees of 500 or more Atypical Risks Exempt classes High Risk i e Nuclear Terrorism Shipowners Pal Please refer to regulations for specific risks Foreign Law Placement is subject to foreign law Customised Exemption that cannot be placed in the Australia market reguires application to ASIC Not Applicable The system will either assume that no value or blank is not applicable or alternatively as part of the release process all existing records will be set to Not Applicable Ibais User Manual Page 10 BA Insurance Systems Appendix APRA Data Collection amp Reporting Insurer Master All bais users will need to update the Insurer Master file to enable the new data collection and reporting requirements You will note that there is a new section added to the Insurer Creditor Master file form Insurer Creditor Masterfile Creditor Account No Company Branch T B A Insurance Systems Pt
22. r you submit electronically or not it is strongly suggested that the Audit reports are run to check that all coding is correct Period End Date must match a date used for an Extract The Reports are located in All Options gt Administration gt Broking gt Statutory Reporting Report Samples are given at the end of this document Note APRA Form 701 Audit Listing Category A B C or D is mandatory A separate Audit Listing for Category C is available see below Period End Date is mandatory AFSL Licence is optional Account is optional Categories have been pre determined by APRA and are represented on APRA Form 701 Table 1 Category A Business the general insurance intermediary placed directly with APRA authorised general insurers Category B Business the general insurance intermediary placed directly or placed through a foreign intermediary with Lloyd s underwriters Category C Business the general insurance intermediary placed directly or placed through a foreign intermediary with unauthorised foreign insurers This will be nil for general insurance intermediaries only required to submit data in Table 1 As the information required for this category is more detailed the user should run the Audit Listing for Category C rather than this listing for Category C Ibais User Manual Page 19 BA Insurance Systems Appendix APRA Data Collection amp Reporting Category D Business the gen
23. s and AFSL Licence details may be altered at the time of the extract Period Start and End will default but if changed must match the table of Period Ranges shown above Extracts may be rerun if required however you should be aware that if an extract has been sent to APRA you will need to co ordinate with APRA to replace your submission A rerun will be indicated with a message on the screen see example Reruns will replace all extract data pertaining to the same Period End Date The extract will cycle through relevant transaction records picking up stored APRA codes in the absence of stored codes the system will attempt to calculate the relevant codes Ibais User Manual Page 17 BA Insurance Systems Appendix APRA Data Collection amp Reporting The Extract Process will provide a progress indication in a pop up screen see sample below and will email the resultant file or files to the user Refer also to Part 4 below Development Account BA DEV APRA Reporting Extract Microsoft Internet Explorer provided by BAIS Pty Ltd EEK G EX v r3 http 192 168 199 105 bawet v Pa X Bing p File Edit View Favorites Tools Help D Favorites 99 Development Account BA DEV Development Account B X Ze CT me Page Safety Toos DesignBais Editor DesignBais Help Change Password Account Selection Run a Form Logout 9 APRA Data Collection for Form 701 Reports Submi
24. t E Accounts to Extract Exclude Insurer Codes J BA DEV FI F3 BA TEST SJ PULSE TEST EI E AFSL Licence Numbers AFSL Licensee Names APRA Consolidation Code EES 000001 Cobr 00 BA o E 1234567 999999 E 888888 Period Start 01 05 2010 Period End 30 06 2010 Caution This will replace a previous extract with the same Period End date Create D2A Import Files x 1 User wilp Account BA DEV Form BKPARAMS_APRA998 VA Trusted sites 2 Development Account BA DEV APRA Data Extract APRA Data Extract Progress Indicator This process is being run to Extract Data for APRA Reporting Transactions processed between the dates below will be included Earliest Date 01 05 2010 Latest Date 30 06 2010 If you close your browser whilst this message is displayed the Data Extract will not be finalised Current Process imum Records Complete Processing from account BA DEV Ibais User Manual Page 18 O BA Insurance Systems Appendix APRA Data Collection amp Reporting APRA Reporting If you are only required to submit APRA Form 701 Table 1 you can submit it as a printed copy a pdf or submit it electronically via the APRA D2A software If you are required to submit APRA Form 702 Table 2 because you deal with Unauthorised Foreign Insurers then you will be required to submit your reports electronically via the APRA D2A software Regardless of whethe
25. t these Actual Insurers are identified in accordance with the reporting rules Dais has been updated to enable this reporting Actual Insurers Submit Underwriter Code Underwriter Name Postal Address Country Overseas Withholding Tax Unauthorised APRA Details AFRA Category APRA Category APRA Category je APE A Cateqory Domestic or General Insurers APRA authorised Lloyds underwriters Unauthorised Foreign Insurers These changes are Mandatory and a transaction involving Actual Insurers will not be allowed to proceed until the APRA category is updated Ibais User Manual Page 14 BA Insurance Systems Appendix APRA Data Collection amp Reporting Policy and Risk Class Changes The new reporting structures require additions to both policy and risk classes These changes are required where insurance is placed with a UFI The changes are the same for policy class and for risk class In a transaction the risk class will take precedence Two new maintenance forms have been developed specifically for these changes Policy Class APRA Codes and Risk Class APRA Codes Both are accessed from the Broking Administration Policy Setup menu Policy Class APRA Data Collection codes Policy Class APRA Class APRA Class Atypical Class Atypical Class e Risk Class APRA Data Collection codes Risk Class Apra Class APRA Class Atypical Class At
26. tter and a corresponding electronic request for a certificate from D2A If more than one person at the Shareholder s organisation will be using D2A to send data APRA each person must obtain a security certificate When using D2A the data sign off requirement is to be met by the challenge letters If there is a subsequent change to the individual who will be responsible for lodging the data another security certificate will need to be obtained BAIS will provide more details on the electronic submission function once we have completed discussions with APRA Preliminary Work to be Completed in bais The following section describes the necessary steps required to set your system up to perform data extraction to satisfy APRA s requirements for Form 701 Tables 1 and 2 The correct classification of data depends on various codes contained in the bais records for each Client Insurer and Actual Underwriter Additionally each Risk Class and or Policy Class should be coded with a valid APRA Class of Business Once extracted the data can then be imported into the APRA supplied D2A application software There are additional codes associated with this Ibais User Manual Page 4 BA Insurance Systems Appendix APRA Data Collection amp Reporting Establishing Global controls Indicate that APRA Data is to be collected in Broking Parameters screen This process should already have been done Simply tick the check box APRA Data
27. w licensees 40 business days to submit the first report from 30 06 10 Lodgement Details AFS licensed insurance intermediaries that have data to submit only in Table 1 that is they have no UFI business may do so either electronically using the Direct to APRA D2A system or in paper form by mailing the document delivering it in person or emailing a PDF of the document to APRA However those intermediaries that have data to submit in both Table 1 and Table 2 must submit them both electronically using D2A The option to provide the information in paper form will not apply in this case unless the AFS licensee contacts APRA to discuss extenuating circumstances that require them to submit both forms in paper format Penalties If the licensee fails to submit data including additional data and resubmissions requested by APRA or fails to correct errors or omissions in the data this will be a breach of the licensee s AFS licence obligations and all usual breach recording and reporting obligations with apply as well as the usual ASIC enforcement options In addition a failure to provide the data required will be a strict liability offence with a maximum penalty of 1 100 for an individual and 5 500 for a corporation However for reporting entities who are sincerely attempting to comply but encountering difficulties in doing SO it is likely that ASIC s initial action would be to provide guidance rather than commence enforcement action
28. y Ltd Trading Name A J Gallagher Search Key AJGal Abbreviated Name A J Gallagher Postal Address LONDON ADLN B M Registered Far GST C GST Registration Mo Input Tax Credit 95 Account Ma Postcode AFSL Creditors Telephone Mo Fax Number Head Office Phone No n Contact Person Email Address for Accounts Creditor Type Underwriter M Broker Report Codes Uw Agency Cade Description Mull K Partner Hull Policy Class Description Liability Default APRA Details APRA Category APRA Category Bank and Electronic Fund Transfer Details T Relevant choices for this dropdown are shown below APRA Category APRA Category Domestic or General Insurers APRA authorised General Insurance Intermediary placed indirectly Lloyds underwriters Unauthorised Foreign Insurers Additional fields are presented for General Insurance Intermediary and Unauthorised Foreign Insurer Ibais User Manual Page 11 BA Insurance Systems Appendix APRA Data Collection amp Reporting General Insurance Intermediary Where the entity is identified as a General Insurance Intermediary you will be required to complete another field Placement Type APRA Details APRA Category General Insurance Intermediary placed indirectly iii Placement Type Placement Type s I a ee Placement Type Domestic or General Insurer Placements Lloyds Placement Mandatory Supporting Insurer Details
29. ypical Class e Atvpical Class CAPRA ase e k APRA Class Not Applicablej Atypical Class Ay tation CTF motor vehicle Commercial motor vehicle Consumer credit Domestic matar vehicle Employers liability Fire and ISR Homeowners householders Marine Other accident Professional_indemnity Public and product liability Travel Ibais User Manual Page 15 Mot Applicable Aviation lability Biological Equine Medical clinical trials Nuclear Shipowners P and I Space Terrorism War O BA Insurance Systems Appendix APRA Data Collection amp Reporting ibais Transactions Capturing APRA Details in Transactions When processing a transaction where additional APRA data collection is required e g where there is an Unauthorised Foreign Insurer the system will indicate this with an extra compulsory section to be completed in the Policy Processing screen Policy Fee Policy Fee GST 0 00 0 00 Client Payable 9 342 96 9 342 96 Brokerage 25 0000 95 1 388 75 25 0000 a 1 388 75 Brokerage GST 138 88 138 88 FBC 55 55 Witholding Tax 166 65 166 65 55 55 Due to Insurer 3 944 05 3 944 05 Subagent Commission 0 00 0 00 Subagent GST 0 00 0 00 Net Brokerage 1 388 75 1 388 75 Wording Clauses and Notes Y 01 Insurers Standard Policy A Invoice Particulars Statistical Code Renewal Business Analysis Code Growth Existi
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