The Australian Prudential Regulation Authority (APRA) today released the first reports based on policy and claims information for public and products liability (PL) and professional indemnity (PI) insurance from a new, comprehensive database – the National Claims and Policies Database (NCPD).
The NCPD includes all APRA‑regulated insurers writing PL and PI insurance for the years 2003 and 2004. Over time, the NCPD will include other insurers involved in these classes and will exhibit the way long‑tail business claims develop. The NCPD was established by APRA, at the request of the Federal Government and in consultation with the insurance industry and other stakeholders, to provide insurers, the community and government with a better understanding of PL and PI insurance.
See full Press Release.
Posts
