The Australian Reinsurance Pool Corporation’s (ARPC) corporate plan to 2019 highlights its key economic role in the event of a terrorist attack.

It says its mission is to provide “cost-effective reinsurance to support the economic resilience of Australia… as part of Australia’s terrorism response”.

The plan details strategic objectives, the current operating environment and future challenges in an “uncertain global environment”.

“In the short term our focus is on enhancing our core operations; the medium term is on providing expanded coverage within the Terrorism Insurance Act; the long-term focus is on becoming a trusted adviser on terrorism insurance and reinsurance,” the ARPC says.

For 2015/16 the corporation has committed to:

• Protect the economy with $13.3 billion total funding for claims
• Protect the Federal Government and encourage private sector participation in the market through a $2.8 billion private sector reinsurance program
• Provide terrorism reinsurance cover to $3.1 trillion in assets and collect $122 million in premiums
• Compensate the Government through the payment of $112.5 million in fees and dividends
• Sustain the pool with $496 million in net assets.

CEO Chris Wallace says the plan provides “a clear statement of intent and guiding set of principles and accountability for our board and management”.

The plan is available here.