Commonwealth Consolidated Regulations

TERRORISM AND CYCLONE INSURANCE REGULATIONS 2003 - REG 5E

    For the purposes of subsection   40A(1) of the Act, a Financial Outlook Report must set out the following:

  (a)   an overview of the performance of the cyclone reinsurance scheme during the financial year;

  (b)   observations on broader financial risks affecting the scheme's financial outlook;

  (c)   an assessment of the adequacy of:

  (i)   the premiums the Corporation is receiving under cyclone reinsurance contracts; and

  (ii)   the Corporation's reserves that are available to meet claims under those contracts;

  (d)   observations on capital management for the purposes of the scheme;

  (e)   projections for financial outcomes for the scheme, based on estimates of future claims under cyclone reinsurance contracts;

  (f)   any other matters that the Corporation considers material to the current and future financial situation of the scheme.