All APRA-regulated general
insurance and reinsurance companies and some Lloyd’s underwriters are required
to contribute claims and policies data to the National Claims and Policies
Database in accordance with Reporting Standards made by APRA in June 2004. State
and territory insurers will also contribute data to the NCPD.
Other organisations, such as agents
that collect public and product liability and/or professional indemnity policy
and/or claim data such as brokers and underwriting and claims management
agencies may also be able to contribute to the NCPD in future.
Broad coverage will ensure that the
NCPD includes comprehensive information on public and products and professional
indemnity liability cover in Australia.