APRA tests water on liability data
The Australian Prudential Regulation Authority (APRA) wants to know how much liability insurance data it should release from the National Claims and Policies Database.
The regulator is calling for comments from “a wide range of stakeholders” by August 12 on a discussion paper addressing the issues surrounding greater public access to liability claims and policy information it gathers from insurers.
The database gathers information on public and products liability and professional indemnity insurance.
Comments are expected from insurers who don’t contribute data, brokers, reinsurers, governments, consulting firms, associations and professional bodies, and other organisations with an interest in liability insurance.
High-level aggregate reports from the database have been published by APRA over the past three years. The current consultation examines plans to publish more detailed information.
APRA Executive Member John Trowbridge says the regulator is seeking a balance between the insurance industry’s preference to protect the confidentiality of data and the wider public interest in the availability of useful information.
The regulator is calling for comments from “a wide range of stakeholders” by August 12 on a discussion paper addressing the issues surrounding greater public access to liability claims and policy information it gathers from insurers.
The database gathers information on public and products liability and professional indemnity insurance.
Comments are expected from insurers who don’t contribute data, brokers, reinsurers, governments, consulting firms, associations and professional bodies, and other organisations with an interest in liability insurance.
High-level aggregate reports from the database have been published by APRA over the past three years. The current consultation examines plans to publish more detailed information.
APRA Executive Member John Trowbridge says the regulator is seeking a balance between the insurance industry’s preference to protect the confidentiality of data and the wider public interest in the availability of useful information.