The Australian Reinsurance Pool Corporation (ARPC) has revealed a new part-time chair and member.
The Federal Government has appointed Ian Carson as part-time Chair, replacing Joan Fitzpatrick as outgoing Chair and Karen Payne (part time member, replacing Mr Tom Karp) to the ARPC.
The ARPC administers a scheme to provide terrorism insurance coverage for commercial (and from 1 July 2017, mixed-use and high value residential) property and associated business interruption. The scheme was initiated to protect Australia’s economy from the global withdrawal of terrorism insurance for commercial property in the wake of the 2001 terrorist attacks in the United States. Other major global terrorism pools include Pool Re in the UK and GAREAT in France.
Carson has been appointed as the part-time Chair for a three-year period from 1 July 2017 up to and including 30 June 2020. He is currently a Partner and the Chairman of PPB Advisory, a professional advisory firm of which he is also a founding partner. He is a registered liquidator and a fellow of the Australian Institute of Company Directors.
Payne has been appointed as a part-time member for a three-year period from 5 October 2017 up to and including 4 October 2020. She is currently the part-time Chief Executive Officer and a part-time member of the Board of Taxation and was previously a Partner at Minter Ellison focusing on international and corporate taxes for the financial services industry among other sectors.