The Australian Prudential Regulation Authority (APRA) has recently published a discussion paper which sets out proposed content and format changes to its statistical publications for general insurance.
APRA states: “APRA intends to improve the relevance of APRA’s statistics to users, and address feedback in stakeholder surveys and other formal and informal consultations.”
General insurance statistics you can use
If implemented, the changes will provide more detail on industry and insurer experience, including new industry-level claims development statistics by class of business. The data is already collected by APRA, but has not been published to date.
The proposed changes generated via feedback will improve the usefulness of the data for general insurance industry analysis and promote a better understanding of the general insurance industry.
Have your say
NIBA is examining the discussion paper, and we would like to hear from brokers who have an interest in this area. If you have any comments or suggestions about the publication of general insurance statistics by APRA, please pass them on to NIBA CEO Dallas Booth (email@example.com) by the close of business on 27 July 2016.