The Director of the Office of the Emergency Services Levy Insurance Monitor issued a section 57 notice requesting information relevant to monthly ESL rates on 28 February 2017. See here for details
The requested information is set out in detail in the Schedule of the notice and is to be provided to the Monitor by 4:00pm on 24 March 2017 in the form prescribed in the Schedule.
This notice has been furnished to selected insurance companies. This notice does not apply to your company if you have not received a notice specifically addressed to your company.
The notice requests information and records identifying the amount of ESL (expressed as a percentage of the base premium) recovered by the insurance company (the company) through the premiums paid or payable to the insurance company for the issue or renewal of regulated contracts of insurance during each calendar month from September 2016 to February 2017 in each of the classes of insurance specified below:
- commercial property insurance;
- home insurance;
- contents insurance;
- personal insurance;
- motor vehicle and motor cycle insurance;
- marine and baggage insurance; and
- crop and live stock insurance.
Insurance companies are required to provide this information in respect of each business name or other name under which it issued or renewed regulated contracts of insurance during the period September 2016 to February 2017.
Strangely, personal insurance and motor cycle insurance have been omitted from the data templates included in the Schedule and excel spreadsheet but are covered in the notice. This appears to be an error and as the notice requires the information it should still be provided for those classes.
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