{ "entity_id": "O-000932", "folder": "Australian-Reinsurance-Pool-Corporation", "name": "Australian Reinsurance Pool Corporation", "type": "Corporate Commonwealth Entity", "jurisdiction": "Commonwealth", "portfolio": "Treasury", "website": "http://www.arpc.gov.au", "data_status": "rich", "completeness": { "has_strategy_brief": true, "has_strategy_structured": true, "has_vision": false, "has_kpi_targets": true, "has_kpi_results": true, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": true, "has_global_initiatives_text": true, "has_ideas": true, "has_artifacts": true, "n_ideas": 8, "n_legislation": 2, "n_artifacts": 10, "n_kpi_targets": 4, "n_kpi_results": 5, "n_outcomes": 4, "verified_own_data": true }, "strategy_profile": { "status": "published", "confidence": "high", "summary": "ARPC’s purpose is to provide the Australian community, through reinsurance, accessible and affordable insurance for terrorism and cyclone.", "official_site_url": "http://www.arpc.gov.au", "source_documents": [ { "type": "annual_report", "title": "ARPC’s 2024-25 Annual Report ARPC's latest annual report summarises ongoing performance and development conversations and provides a record of past performance ", "url": "https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf", "period": "2024-25", "confidence": "high" }, { "type": "annual_report", "title": "Annual Report 2023-24", "url": "https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf", "period": "2023-24", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2024-28", "url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "period": "2024", "confidence": "high" }, { "type": "strategie", "title": "ARPC Reconciliation Action Plan", "url": "https://arpc.gov.au/wp-content/uploads/2025/02/ARPC-Reconciliation-Action-Plan-2025.pdf", "period": "2025", "confidence": "medium" } ], "purpose": { "text": "ARPC’s purpose is to provide the Australian community, through reinsurance, accessible and affordable insurance for terrorism and cyclone.", "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": 7, "source_deep_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7" }, "vision": null, "strategic_priorities": [ { "title": "Deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance covera", "description": "Deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage.", "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": 7, "source_deep_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7" }, { "title": "Optimise the pools to enhance effectiveness and affordability.", "description": "Optimise the pools to enhance effectiveness and affordability.", "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": 8, "source_deep_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8" }, { "title": "Build our data analytics and insights capability to support risk mitigation and enhance accessibility and affordability ", "description": "Build our data analytics and insights capability to support risk mitigation and enhance accessibility and affordability of insurance.", "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": 8, "source_deep_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8" }, { "title": "Continue to build capability and a customer and risk-focused culture to drive ongoing improvements in performance.", "description": "Continue to build capability and a customer and risk-focused culture to drive ongoing improvements in performance.", "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": 8, "source_deep_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8" } ], "values": [ { "name": "Service", "description": "", "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": null }, { "name": "Integrity", "description": "", "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": null }, { "name": "Respect", "description": "", "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": null }, { "name": "Wellbeing", "description": "", "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": null } ], "outcomes": [ { "name": "Outcome 1: Deliver sustainable reinsurance for eligible terrorism and cyclone events", "description": "ARPC will deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage.", "activities": [ "Efficient and effective collection of premiums, payment of claims, and management of pool net assets", "Purchase of reinsurance (retrocession) coverage to protect the terrorism pool net assets", "Monitor effectiveness of cyclone pool pricing, management of net assets and the risks affecting the pools" ], "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": 7, "source_deep_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7" }, { "name": "Outcome 2: Optimise the pools to enhance effectiveness and affordability", "description": "ARPC will optimise the pools to enhance effectiveness and affordability.", "activities": [ "Share de-identified and aggregated data and risk insights with government agencies to support disaster risk mitigation activities", "Publish statistics on pool performance and impact" ], "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": 8, "source_deep_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8" }, { "name": "Outcome 3: Build our data analytics and insights capability", "description": "ARPC will build its data analytics and insights capability to support risk mitigation and enhance accessibility and affordability.", "activities": [ "Continue to invest in our people and their well-being, including a focus on leadership development", "Deliver ARPC led research and work with research partners to develop terrorism and cyclone risk insights" ], "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": 8, "source_deep_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8" }, { "name": "Outcome 4: Continue to build capability and a customer and risk-focused culture", "description": "ARPC has an ongoing focus on developing internal capabilities to sustain and strengthen our customer and risk-focused culture.", "activities": [ "Optimise processes and systems to efficiently and effectively manage the pools", "Continue to build risk capabilities and mature our risk management framework" ], "source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "source_page": 8, "source_deep_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8" } ], "performance_measures": [ { "code": "CCE01", "measure": "Terrorism Stakeholder Perception Index score", "target": "greater than 70%", "latest_result": "Met", "status": "Achieved", "target_source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "target_source_page": 25, "result_source_url": "https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf", "result_source_page": 9 }, { "code": "CCE02", "measure": "Cyclone Stakeholder Perception Index score", "target": "greater than 70%", "latest_result": "Met", "status": "Achieved", "target_source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "target_source_page": 25, "result_source_url": "https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf", "result_source_page": 9 }, { "code": "CCE03", "measure": "Operating expenses within budget", "target": "Operating expenses within board approved budget of $31m for 2024-25", "latest_result": "Met", "status": "Achieved", "target_source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "target_source_page": 25, "result_source_url": "https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf", "result_source_page": 9 }, { "code": "CCE04", "measure": "Insurer customer satisfaction", "target": "Target met", "latest_result": "Met", "status": "Achieved", "target_source_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf", "target_source_page": 25, "result_source_url": "https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf", "result_source_page": 9 }, { "code": "CCE05", "measure": "Insurer customer satisfaction", "target": "", "latest_result": "Met", "status": "Achieved", "target_source_url": "", "target_source_page": null, "result_source_url": "https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf", "result_source_page": 9 } ], "document_alignment_terms": { "must_support": [ "ARPC’s purpose is to provide the Australian community, through reinsurance, accessible and affordable insurance for terrorism and cyclone.", "Deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage.", "Optimise the pools to enhance effectiveness and affordability.", "Build our data analytics and insights capability to support risk mitigation and enhance accessibility and affordability of insurance.", "Continue to build capability and a customer and risk-focused culture to drive ongoing improvements in performance." ], "watch_terms": [ "Terrorism Stakeholder Perception Index score", "Cyclone Stakeholder Perception Index score", "Operating expenses within budget", "Insurer customer satisfaction", "Insurer customer satisfaction" ], "avoid_claiming_without_evidence": [] }, "review_note": "" }, "strategy_brief_md": "# Australian Reinsurance Pool Corporation — Strategy Brief\n\n**Reporting period**: 2024-25\n**Corporate plan in force**: 2025-26\n**Annual Report**: [2024-25](https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)\n**Corporate Plan**: [2025-26](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)\n\n## Our purpose / purposes\n\n> ARPC’s purpose is to provide the Australian community, through reinsurance, accessible and affordable insurance for terrorism and cyclone. [[CP p.7](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7)]\n\n## How we deliver\n\n> ARPC’s role is to administer the proper use and management of public terrorism and cyclone reinsurance pools as set out in the legislation under powers under section 10 of the TCI Act. [[CP p.7](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7)]\n\n## Government priorities for this department\n\n- Deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage. [[CP p.7](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7)]\n- Optimise the pools to enhance effectiveness and affordability. [[CP p.8](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)]\n- Build our data analytics and insights capability to support risk mitigation and enhance accessibility and affordability of insurance. [[CP p.8](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)]\n- Continue to build capability and a customer and risk-focused culture to drive ongoing improvements in performance. [[CP p.8](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)]\n\n## Outcomes\n\n### Outcome 1: Deliver sustainable reinsurance for eligible terrorism and cyclone events\nARPC will deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage. [[CP p.7](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=7)]\n\n**Key activities:**\n- Efficient and effective collection of premiums, payment of claims, and management of pool net assets\n- Purchase of reinsurance (retrocession) coverage to protect the terrorism pool net assets\n- Monitor effectiveness of cyclone pool pricing, management of net assets and the risks affecting the pools\n\n### Outcome 2: Optimise the pools to enhance effectiveness and affordability\nARPC will optimise the pools to enhance effectiveness and affordability. [[CP p.8](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)]\n\n**Key activities:**\n- Share de-identified and aggregated data and risk insights with government agencies to support disaster risk mitigation activities\n- Publish statistics on pool performance and impact\n\n### Outcome 3: Build our data analytics and insights capability\nARPC will build its data analytics and insights capability to support risk mitigation and enhance accessibility and affordability. [[CP p.8](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)]\n\n**Key activities:**\n- Continue to invest in our people and their well-being, including a focus on leadership development\n- Deliver ARPC led research and work with research partners to develop terrorism and cyclone risk insights\n\n### Outcome 4: Continue to build capability and a customer and risk-focused culture\nARPC has an ongoing focus on developing internal capabilities to sustain and strengthen our customer and risk-focused culture. [[CP p.8](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=8)]\n\n**Key activities:**\n- Optimise processes and systems to efficiently and effectively manage the pools\n- Continue to build risk capabilities and mature our risk management framework\n\n## Values and principles\n\n_Corporate Values_\n\n- Service\n- Integrity\n- Respect\n- Wellbeing\n\n## What they will measure themselves on this year (targets from 2025-26 corporate plan)\n\n| Code | Measure | Target | Source |\n|---|---|---|---|\n| CCE01 | Terrorism Stakeholder Perception Index score | greater than 70% | [CP p.25](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=25)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=25) |\n| CCE02 | Cyclone Stakeholder Perception Index score | greater than 70% | [CP p.25](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=25)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=25) |\n| CCE03 | Operating expenses within budget | Operating expenses within board approved budget of $31m for 2024-25 | [CP p.25](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=25)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=25) |\n| CCE04 | Insurer customer satisfaction | Target met | [CP p.25](https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=25)(https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf#page=25) |\n\n## How they performed last year (results from 2024-25 annual report)\n\n| Code | Measure | Result | Status | Source |\n|---|---|---|---|---|\n| CCE01 | Cyclone pool premium effectiveness and affordability | Met | Achieved | [AR p.9](https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9)(https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9) |\n| CCE02 | Share data and insights | Met | Achieved | [AR p.9](https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9)(https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9) |\n| CCE03 | Financial resilience | Met | Achieved | [AR p.9](https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9)(https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9) |\n| CCE04 | Operational efficiency | Met | Achieved | [AR p.9](https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9)(https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9) |\n| CCE05 | Insurer customer satisfaction | Met | Achieved | [AR p.9](https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9)(https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf#page=9) |", "strategy_overview_evidence_md": null, "internal_strategy_evidence_md": "# Australian Reinsurance Pool Corporation - Strategy, Performance, and Operating Profile\n\n**Generated at**: 2026-05-09T21:50:05.327195+00:00\n**Entity ID**: O-000932\n**Entity type**: Corporate Commonwealth Entity\n**Jurisdiction**: Commonwealth\n**Portfolio**: Treasury\n**Website**: http://www.arpc.gov.au\n\n> Draft generated from scraped source material. Treat this as an evidence pack for editorial review, not a final judgement.\n\n## Source Coverage\n\n| Source type | Count |\n|---|---:|\n| annual-reports | 2 |\n| corporate-plans | 1 |\n| global-intelligence | 4 |\n| other-pdfs | 5 |\n| pages | 8 |\n| reviews | 1 |\n| strategies | 1 |\n\n## Executive Readout\n\n### Purpose\n\n- Figure 1.1: ARPC’s strategy for 2023-24*\nVision\nPurpose A future where the Australian\ncommunities we serve are more Corporate Values\nProtecting Australian communities resilient to disasters through access Integ rity\nwith sustainable and effective to afforable insurance for terrorism\nRespect\nreinsurance for terrorism and and cyclone events\nServ ice\ncyclone events\nWellbeing\n2023-24 Strategic Priorities\nDeliver reinsurance for Engage and understand our Develop data on Provide thought Be a high performing,\neligible terrorism and stakeholders with a focus on terrorism, cyclone, and leadership to deliver inclusive, customer and\ncyclone losses insurer customers to improve insurance climate risk to risk insights risk focused culture\ncommunity outcomes support risk mitigation\n*The current corporate plan, including the 2024-28 strategy, is now published on the ARPC website here.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [pages 3,4,5]\nincluding:\n• reviewing and approving the internal audit plan and fees to confirm it considers ARPC’s key risks,\nwhich may include a review of risk management capabilities,\n• reviewing and approving the internal audit scopes in line with the approved internal audit plan,\nincluding any chances to scopes or the timing of internal audits, to ensure alignment with\nCommittee expectations,\n• reviewing and approving the Internal Audit Policy and associated internal audit strategy, which\nincorporates the internal audit vision, strategic objectives and supporting initiatives,\n• reviewing and approving the internal audit performance objectives,\n• reviewing all internal audit reports and providing advice and recommendations to the Board on\nsignificant issues identified in the internal audit reports,\n3\n Source: `other-pdfs/ACC-Charter_Contemporary_2025_Approved.pdf (https://arpc.gov.au/wp-content/uploads/2025/08/ACC-Charter_Contemporary_2025_Approved.pdf)`\n- [Page 3]\nC O N T E N T S\n1 CHAIR’S FOREWORD 5\n2 WHY WE EXIST 7\n3 OUR OPERATING CONTEXT 11\nEnvironment 11\nTerrorism Pool 11\nCyclone Pool 13\nCapability 14\nGovernance 18\nRisk Management 20\nCooperation 23\n4 OUR PERFORMANCE 25\n5 APPENDIX 26\n© Australian Reinsurance Pool Corporation\nThis publication is available for your use under a Creative Commons Attribution 3.0 Australia licence, except for the\nCommonwealth Coat of Arms, the Australian Reinsurance Pool Corporation logo and where otherwise stated [graphics\nand photos].\n Source: `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)`\n- ARPC’s role is to administer the ARPC operates under the TCI Act. proper use and management of public\nterrorism and cyclone reinsurance ARPC’s statutory functions and resources, promote the achievement\npools as set out in the legislation under powers under section 10 of the of its purpose and encouraging\nthe Terrorism and Cyclone Insurance TCI Act are: cooperation with others to achieve\nAct 2003 (TCI Act). common objectives.\n• to provide insurance cover for\neligible terrorism losses (whether\nARPC does this through efficient Our Board is the Accountable\nby entering contracts or by o\nand effective administration of Authority and is responsible for\naccordance with Part 2A, and\ntwo reinsurance pools that provide determining strategy, defining risk\ninsurance coverage in defined appetite, and making financing\n• any other functions that are\n Source: `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)`\n\n### Role and Functions\n\n- ARPC’s role is to administer the ARPC operates under the TCI Act. proper use and management of public\nterrorism and cyclone reinsurance ARPC’s statutory functions and resources, promote the achievement\npools as set out in the legislation under powers under section 10 of the of its purpose and encouraging\nthe Terrorism and Cyclone Insurance TCI Act are: cooperation with others to achieve\nAct 2003 (TCI Act). common objectives.\n• to provide insurance cover for\neligible terrorism losses (whether\nARPC does this through efficient Our Board is the Accountable\nby entering contracts or by o\nand effective administration of Authority and is responsible for\naccordance with Part 2A, and\ntwo reinsurance pools that provide determining strategy, defining risk\ninsurance coverage in defined appetite, and making financing\n• any other functions that are\n Source: `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)`\n- [pages 20,21,22,23,24]\nrisks that\nRisk Management Policy\nreflect its responsibilities as a Public\nUnder section 16 of the Public Financial Corporation administering\nGovernance, Performance and reinsurance pools.\n Source: `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)`\n- About ARPC 19\nReinsurance partners 33\nARPC's roles and responsibilities 20\nModels developed to estimate DTI losses 34\nLegislative functions 20\n3D blast model 34\nCorporate Plan 21 Plume model 34\nStrategic context for the reinsurance pools 22 Geospatial model 34\nTerrorism pool addresses partial Insurer customer review program 35\nmarket failure 22 Insurer customer review trends 35\nTerrorism threat landscape 22 Active Reinsurance Agreements 35\nInsurer premium report\nCyclone pool addresses availability\n(underwriting year premium returns) 36\nand affordability 22\nCyclone outlook 22 3.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- About ARPC 19\nPlume model 32\nGeospatial model 32\nARPC’s roles and responsibilities 20\nInsurer review program 33\nLegislative functions 20\nActive reinsurance agreements 33\nCorporate Plan 21\nReinsurance premium report\n(based on underwriting year) 34\nStrategic context for the reinsurance pools 22\nTerrorism pool addresses partial 3.\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- A future where the\nAustralian communities\nwe serve are more\nresilient to disasters\nthrough access to Performance measures 'what we focused on'\naffordable insurance\nfor terrorism and Measure 1 Income: Gross Written Premium Measure 3 Operational efficiency: Measure 5 Delivery of strategic projects: Measure 7 Statistical publications: Data Measure 9 Employee Engagement:\ncyclone events. (GWP) Operating expenses On time, scope, budget analytics and insights Engagement survey\nMeasure 2 Financial resilience: Net Assets Measure 4 Technological resilience: Measure 6 Customer satisfaction: Annual Measure 8 Research papers: Publish Measure 10 Event response\nCyber security framework insurer customer survey Research papers preparedness\nDelivered or progressed strategic priorities\nOur Values\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Key activities\nTerrorism pool Cyclone pool Organisational\n§ Enhanced preparedness, capability and organisational agility to respond to major § Supported insurer customers to join the cyclone pool. § Developed our culture, collaboration and change\nconcurrent events. § Designed to keep insurance premiums as low as possible in medium and management capabilities.\n§ Delivered technology and systems to achieve terrorism and cyclone pool goals. high-risk areas and be cost neutral over the long term. § Evolved our employee value proposition to attract\n§ Encouraged the private market to participate in terrorism risk insurance. § Collaborated across the Australian government to align use of and retain talent.\n§ Supported risk mitigation. catastrophe models.\n§ Maintained and developed the terrorism catastrophe models.\n'we will'\nPerformance measures\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n\n### Strategic Priorities\n\n- Key activities\nTerrorism pool Cyclone pool Organisational\n§ Enhanced preparedness, capability and organisational agility to respond to major § Supported insurer customers to join the cyclone pool. § Developed our culture, collaboration and change\nconcurrent events. § Designed to keep insurance premiums as low as possible in medium and management capabilities.\n§ Delivered technology and systems to achieve terrorism and cyclone pool goals. high-risk areas and be cost neutral over the long term. § Evolved our employee value proposition to attract\n§ Encouraged the private market to participate in terrorism risk insurance. § Collaborated across the Australian government to align use of and retain talent.\n§ Supported risk mitigation. catastrophe models.\n§ Maintained and developed the terrorism catastrophe models.\n'we will'\nPerformance measures\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- A future where the\nAustralian communities\nwe serve are more\nresilient to disasters\nthrough access to Performance measures 'what we focused on'\naffordable insurance\nfor terrorism and Measure 1 Income: Gross Written Premium Measure 3 Operational efficiency: Measure 5 Delivery of strategic projects: Measure 7 Statistical publications: Data Measure 9 Employee Engagement:\ncyclone events. (GWP) Operating expenses On time, scope, budget analytics and insights Engagement survey\nMeasure 2 Financial resilience: Net Assets Measure 4 Technological resilience: Measure 6 Customer satisfaction: Annual Measure 8 Research papers: Publish Measure 10 Event response\nCyber security framework insurer customer survey Research papers preparedness\nDelivered or progressed strategic priorities\nOur Values\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Figure 1.1: ARPC’s strategy for 2023-24*\nVision\nPurpose A future where the Australian\ncommunities we serve are more Corporate Values\nProtecting Australian communities resilient to disasters through access Integ rity\nwith sustainable and effective to afforable insurance for terrorism\nRespect\nreinsurance for terrorism and and cyclone events\nServ ice\ncyclone events\nWellbeing\n2023-24 Strategic Priorities\nDeliver reinsurance for Engage and understand our Develop data on Provide thought Be a high performing,\neligible terrorism and stakeholders with a focus on terrorism, cyclone, and leadership to deliver inclusive, customer and\ncyclone losses insurer customers to improve insurance climate risk to risk insights risk focused culture\ncommunity outcomes support risk mitigation\n*The current corporate plan, including the 2024-28 strategy, is now published on the ARPC website here.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [pages 23,24,25]\nn\ncommunities we serve are more Corporate Values\nProtecting Australian communities resilient to disasters through access Integ rity\nwith sustainable and effective to afforable insurance for terrorism\nRespect\nreinsurance for terrorism and and cyclone events\nServ ice\ncyclone events\nWellbeing\n2023-24 Strategic Priorities\nDeliver reinsurance for Engage and understand our Develop data on Provide thought Be a high performing,\neligible terrorism and stakeholders with a focus on terrorism, cyclone, and leadership to deliver inclusive, customer and\ncyclone losses insurer customers to improve insurance climate risk to risk insights risk focused culture\ncommunity outcomes support risk mitigation\n*The current corporate plan, including the 2024-28 strategy, is now published on the ARPC website here.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Figure 4.1: 2023-24 Strategic Priorities\n2023-24 Strategic Priorities\nDeliver reinsurance for Engage and understand our Develop data on Provide thought Be a high performing,\neligible terrorism and stakeholders with a focus on terrorism, cyclone, and leadership to deliver inclusive, customer and\ncyclone losses insurer customers to improve insurance climate risk to risk insights risk focused culture\ncommunity outcomes support risk mitigation\n50 ARPC Annual Report | 2023-24\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 142]\nList of figures\nFigure # Description Page/s\nOur 2023-24 strategy 4 - 5\nAbout us – including financial snapshots of the Terrorism Reinsurance Pool and Cyclone\n6\nReinsurance Pool\nOur Values 6\nPerformance summary against the 2023-27 Corporate Plan 7\nOur story – timeline of ARPC 8 to 9\n1 Summary of key financial metrics 2023-24 (in $ millions) 16\n2 ARPC Senior Executive Team 17\n1.1 ARPC’s strategy for 2023-24 21\n1.2 ARPC's 2024 Cyclone Risk Insurance Seminar banner 23\n1.3 Words used by survey respondents to describe ARPC 24\n1.4 IFTRIP Conference 2024 banner 25\n2.1 ARPC funding layers for terrorism claims from all sources as at 30 June 2024 29\n2.2 Premium, risk and sum insured split by pricing tiers by underwriting year 30\n2.3 Property types covered by the terrorism pool 32\n2.4 2023-24 Tier rates and broad geographical location 33\n2.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Key achievements include:\nsuccessfully onboarding all mandated insurers to the cyclone pool\npaying over $130 million in cyclone-related claims, with an average payment time of 11 business days\nobserving measurable reductions in insurance premiums in high-risk areas, with up to 39% savings for home policyholders\npublishing five statistical reports and hosting two industry seminars to share insights and foster collaboration\nmaintaining strong financial resilience, with all obligations met from ARPC’s own assets.\n'Over the past year, the terrorism and cyclone pools have effectively fulfilled their purpose, despite a challenging season of tropical cyclone weather.'\nDr Christopher Wallace, ARPC CEO\nARPC’s 2024-25 Strategic Priorities\nDeliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage.\n Source: `pages/annual-reports-index.html (http://arpc.gov.au/news-and-publications/annual-reports/)`\n- [Page 9]\nStrategic Priority 2 Strategic Priority 3 Strategic Priority 4\nOptimise the pools to enhance Build our data analytics and insights Continue to build capability and a\neffectiveness and affordability. capability to support risk mitigation customer and risk-focused culture\nand enhance accessibility and to drive ongoing improvements in\naffordability of insurance. performance.\n Source: `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)`\n- [Page 25]\n00 44 O U R\nP E R F O R M A N C E\nARPC will achieve its purpose by delivering on its strategic priorities summarised in Table 4.1.\n Source: `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)`\n- [pages 7,8,9,10,11,12]\nre 2 Financial resilience: Net Assets Measure 4 Technological resilience: Measure 6 Customer satisfaction: Annual Measure 8 Research papers: Publish Measure 10 Event response\nCyber security framework insurer customer survey Research papers preparedness\nDelivered or progressed strategic priorities\nBusiness functions ‘our capabilities’ Our people 'who work for us or with us' Stakeholders 'with whom we engage'\n§ Reinsurance § Stakeholder engagement § Board Members and observers § Insurer customers\n§ Technical underwriting § Technology § Employees § Government agencies\n§ Financial management § Operations § Contractors § Industry associations\n§ Actuarial expertise § Community and consumers\n§ Declared Terrorism Incident (DTI) § Global reinsurers\nresponse\n§ Declared Cyclone Event (DTE) response\n5\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n\n## KPIs, Targets, and Where They Are At\n\n- Figure 4.2: Achievements against 2024-28 Corporate Plan measures and targets8\nPerformance measure Assessment criteria Target Result\nMeasure 1 Assessing the impact of Publication of annual Financial Met\nCyclone pool premium the cyclone pool through Outlook Report and closure of The report was published.\neffectiveness and the annual Financial management actions within None of the actions have\naffordability Outlook Report targeted timelines. exceeded the target timeline.\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- [Page 56]\nMeasure 5:\nResult: Met\nInsurer customer satisfaction\nSource: Measure 5, ARPC 2024-28 Corporate Plan, page 25\nTarget:\nTerrorism: Terrorism Stakeholder Perception Index score greater than 70 per cent.\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- Source: Measure 5, Performance\nAssessment, ARPC 2023-27 Corporate\nResult: Partially Met\nPlan, p.27\nDescription\nAll strategic projects were either completed or are on track to be delivered within budget and against\ntarget timelines.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- For this corporate plan, the ARPC measures and targets for each strategic priority are outlined below:\nTable 4.1: Performance measures\nPerformance Measure Assessment criteria Target\nMeasure 1\nAssessing the impact of the cyclone pool Publication of annual Financial Outlook Report and\nCyclone pool premium\nthrough the annual Financial Outlook Report closure of management actions within targeted timelines.\neffectiveness and affordability\nPublish one or more statistical publications on the ARPC\nMeasure 2 Engagement with stakeholders in website on cyclone risk to share ARPC insights and\nShare data and insights government and the insurance industry research on affordability and accessibility of insurance\nand host an industry seminar.\n Source: `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)`\n- Measure 1 Gross Written Premium (GWP) Not Met\nMeasure 2 Net assets Met\nMeasure 3 Operating expenses to budget Met\nMeasure 4 Cyber security framework Met\nMeasure 5 Strategic projects Primarily Met\nMeasure 6 Insurer customer satisfaction Met\nMeasure 7 Produced statistical publications Met\nMeasure 8 Published research papers Met\nMeasure 9 Achieved employee engagement score Met\nMeasure 10 Event response preparedness Met\n7\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Measure 2: Net assets Met\nTo maintain sufficient net assets to support Available net assets as at 30 June 2024 were $1,663m\ntargets in ARPC Capital Management Policy. against target of $1,161m.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Engage and Measure 6: Insurer customer survey Met\nunderstand our Publish outcome of 2023 insurer customer • 2023 Insurer Customer Survey published.\nstakeholders with survey:\n• T-SPI index score of 76%.\na focus on insurer Terrorism: achieve a Terrorism Stakeholder\ncustomers to Perception Index (T-SPI) score of at least 70% • Cyclone pool target in progress as per timeline.\nimprove community Cyclone: To develop interim target for the\noutcomes cyclone pool once insurers onboard (December\n2024)\n3.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Source: Measure 2, ARPC 2024-28\nCorporate Plan, page 25 Result: Met\nDescription:\nIn 2024-25, we published five reports, drawing on data generated by the cyclone pool.\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- Source: Measure 4, ARPC 2024-28\nResult: Met\nCorporate Plan, p25\n40\n35\n30\n25\n20\n19.1 19.7\n18.0 18.6\n15 18.2 15.9\n12.1 19.3 14.5 14.9 15.4\n10 12.5\n10.6\n9.5\n5\nActual Actual Actual Budget Forecast Forecast Forecast\n22-23 23-24 24-25 25-26 26-27 27-28 28-29\n53\nm$\nsesnepxE\nDescription:\nOur operating expenses are allocated at a pool level for transparency and so that performance against\nlegislative objectives can be assessed.\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- [pages 55,56,57,58,59,60]\nMeasure 4, ARPC 2024-28\nResult: Met\nCorporate Plan, p25\n40\n35\n30\n25\n20\n19.1 19.7\n18.0 18.6\n15 18.2 15.9\n12.1 19.3 14.5 14.9 15.4\n10 12.5\n10.6\n9.5\n5\nActual Actual Actual Budget Forecast Forecast Forecast\n22-23 23-24 24-25 25-26 26-27 27-28 28-29\n53\nm$\nsesnepxE\nDescription:\nOur operating expenses are allocated at a pool level for transparency and so that performance against\nlegislative objectives can be assessed.\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- Source: Measure 1,\nPerformance Assessment, ARPC 2023-27\nResult: Not Met\nCorporate Plan, p 23\nDescription\nARPC has functional obligations as prescribed by section 10 of the TCI Act to provide insurance cover for\neligible terrorism losses and to operate a cyclone and related flood damage reinsurance pool.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 56]\nMeasure 2: Target\nNet Assets Maintain sufficient net assets to support\nSource: Measure 2, Performance targets in ARPC's Capital Management\nAssessment ARPC 2023-27 Corporate Policy.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 55]\nAnnual Performance Statement\nMeasure 4: Target\nOperational efficiency Manage operating expenses within Board\napproved budget of $31m for 2024-25.\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- Figure 4.2: Achievements against 2023-27 Corporate Plan objectives6\nStrategic Priority Measure Result against performance criterion\n1.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n\n## Key Metrics\n\n| Values found | Evidence | Source |\n|---|---|---|\n| $14.9 billion, $10.1 billion, $25.0 billion, $399 million, $672 million, $1,071 million | Financial\nTable 3.1: ARPC financial capability forecast (budget)\nFinancial capability Terrorism Pool 2024-2025 Cyclone Pool 2024-25 Consolidated 2024-25\nTotal funding available for claims $14.9 billion $10.1 billion* $25.0 billion*\nPremium income p.a.\n$399 million $672 million $1,071 million\n(Gross Written Premium)\nPayments to Government p.a. $90 million Nil $90 million\nCommonwealth guarantee $10 billion $10 billion* $20 billion*\nReinsurance sect | `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)` |\n| $9.5 million, $9.7 million, 9.5 million, 9.7 million | For the 2023-24 financial year, the terrorism pool operating expenses was $9.5 million against a budget of\n$9.7 million. | `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)` |\n| $30.7 million, $31.0 million, 30.7 million, 31.0 million | For the 2024-25 financial year our operating expenses were $30.7 million against a budget of $31.0 million. | `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)` |\n| $19.3 million, $21.2 million, 19.3 million, 21.2 million | The cyclone pool’s operating expenses were $19.3 million against a budget of $21.2 million. | `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)` |\n| $28.8 million, $30.9 million, 28.8 million, 30.9 million | In total, ARPC’s operating expenses were $28.8 million against a budget of $30.9 million. | `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)` |\n| $28.8m, $30.9m | Operating expenses during the 2023-24 financial year were\n$28.8m, the budget was $30.9m. | `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)` |\n| $272,238 , $16,721, 343\nStaff | [Page 113]\nFinancial Statements\n2024 2023\n1.2D: Suppliers\n$’000 $’000\nGoods and services supplied or rendered\nConsultants 5,231 8,442\nReinsurance broker services 450 338\nExternal audit service 160 115\nInternal audit fee 286 129\nFee for services 1,345 158\nInformation and Communication Technology Services (ICT Services) 2,856 1,750\nShared services 92 83\nLegal fees 189 343\nStaff development and training 413 265\nTravel 352 356\nOther 1,404 1,339\nTotal | `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)` |\n| $1,973.0\n, $1,071.1 , $1,064.3\n, $772.1\n, $90.0 | This\nDr Christopher Wallace\nyear, we have invested significantly in our team and\nBEc (Hons), PhD (Econ), AMP (INSEAD), ANZIIF (Fellow),\nleadership capability, with a renewed focus on training\nCIP, GAICD\nand professional development through Maximus\nChief Executive\n$1,973.0\n$1,071.1 $1,064.3\n$772.1\n$90.0 $90.0 $77.3 $120.3 $309.7\nGWP Net Assets Payments to Govt Investment Operating Result\nIncome\n$(891.2)\n15\nnoillim\n$\nFigure 1.1: Summary of key fina | `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)` |\n| $31m | [Page 55]\nAnnual Performance Statement\nMeasure 4: Target\nOperational efficiency Manage operating expenses within Board\napproved budget of $31m for 2024-25. | `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)` |\n| $130 million, 130 million | Key achievements include:\nsuccessfully onboarding all mandated insurers to the cyclone pool\npaying over $130 million in cyclone-related claims, with an average payment time of 11 business days\nobserving measurable reductions in insurance premiums in high-risk areas, with up to 39% savings for home policyholders\npublishing five statistical reports and hosting two industry seminars to share insights and foster collaboration\nmaintaining strong finan | `pages/annual-reports-index.html (http://arpc.gov.au/news-and-publications/annual-reports/)` |\n| $31m | Measure 4 Manage operating expenses within board approved\nOperating expenses within budget\nOperational efficiency budget of $31m for 2024-25. | `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)` |\n| $3.5 billion, $10 million, $1.184 billion, 3.5 billion, 10 million, 1.184 billion | It is mandatory for insurers\nsaid nationalist and racist violent\n• a $3.5 billion retrocession with more than $10 million in\nextremism persists and that ASIO\nhome insurance premium (in\nprogram purchased from 70\nwas concerned about “lone actors\ncyclone affected postcodes) to\nprivate sector reinsurers\nusing readily available weapons to\nhave a reinsurance agreement\n• over $1.184 billion in net carry out an act of terrorism across\nwith ARPC.\nassets. | `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)` |\n| $14.7 billion, 14.7 billion | [Page 30]\nTerrorism pool participation, funding, and pricing stable\nThe Australian Government Reinsurance Agreements Funding for terrorism claims\ncreated the terrorism pool under\nIn 2023-24, ARPC had As of 30 June 2024, the terrorism\nthe then Terrorism Insurance Act\n225 terrorism reinsurance pool provided a claims funding\n2003 (TI Act) to be administered\nagreements in place (2022- capacity of $14.7 billion\nby ARPC which supports the\n23: 228). | `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)` |\n| $10\n, $10 billion, $959 M, $225M, 10 billion | [Page 31]\nThe Terrorism Reinsurance Pool\nFigure 2.1: ARPC funding layers for terrorism claims from all sources as at 30 June 2024\n29\nSREYAL\nGNIDNUF\n$10\nCommonwealth guarante e: This is a solvency\nUp to B guarantee for ARPC, which is limited to $10 billion\nCommonwealth guarantee as per the Terrorism and Cyclone Insurance Act\n2003.\n$959 M The net asset position\navailable for claims after the $225M deductible is\npaid. | `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)` |\n| 70 per cent | [Page 56]\nMeasure 5:\nResult: Met\nInsurer customer satisfaction\nSource: Measure 5, ARPC 2024-28 Corporate Plan, page 25\nTarget:\nTerrorism: Terrorism Stakeholder Perception Index score greater than 70 per cent. | `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)` |\n| $1,663m, $1,161m | Measure 2: Net assets Met\nTo maintain sufficient net assets to support Available net assets as at 30 June 2024 were $1,663m\ntargets in ARPC Capital Management Policy. against target of $1,161m. | `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)` |\n| $31m | [Page 55]\nAnnual Performance Statement\nMeasure 4: Target\nOperational efficiency Manage operating expenses within Board\napproved budget of $31m for 2024-25. | `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)` |\n\n## Key Achievements\n\n- Source: Measure 5, Performance\nAssessment, ARPC 2023-27 Corporate\nResult: Partially Met\nPlan, p.27\nDescription\nAll strategic projects were either completed or are on track to be delivered within budget and against\ntarget timelines.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- A future where the\nAustralian communities\nwe serve are more\nresilient to disasters\nthrough access to Performance measures 'what we focused on'\naffordable insurance\nfor terrorism and Measure 1 Income: Gross Written Premium Measure 3 Operational efficiency: Measure 5 Delivery of strategic projects: Measure 7 Statistical publications: Data Measure 9 Employee Engagement:\ncyclone events. (GWP) Operating expenses On time, scope, budget analytics and insights Engagement survey\nMeasure 2 Financial resilience: Net Assets Measure 4 Technological resilience: Measure 6 Customer satisfaction: Annual Measure 8 Research papers: Publish Measure 10 Event response\nCyber security framework insurer customer survey Research papers preparedness\nDelivered or progressed strategic priorities\nOur Values\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Key activities\nTerrorism pool Cyclone pool Organisational\n§ Enhanced preparedness, capability and organisational agility to respond to major § Supported insurer customers to join the cyclone pool. § Developed our culture, collaboration and change\nconcurrent events. § Designed to keep insurance premiums as low as possible in medium and management capabilities.\n§ Delivered technology and systems to achieve terrorism and cyclone pool goals. high-risk areas and be cost neutral over the long term. § Evolved our employee value proposition to attract\n§ Encouraged the private market to participate in terrorism risk insurance. § Collaborated across the Australian government to align use of and retain talent.\n§ Supported risk mitigation. catastrophe models.\n§ Maintained and developed the terrorism catastrophe models.\n'we will'\nPerformance measures\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- The Cyclone Reinsurance Pool 39\nWorking with stakeholders 23 Larger insurers join, pricing stable,\nARPC hosts first Cyclone Risk premiums falling 40\nInsurance Seminar 23 Insurers joining 40\nARPC's Terrorism Risk Insurance Seminar Financial surplus 40\nhighlights cyrrent and emerging threats 23 Pricing stable 40\nEngaging with terrorism and cyclone Cyclone pool smaller than projected 40\nstakeholders 24 Premiums falling 40\nParticipating in Australian insurance Cyclone pool dashboard 41\nindustry events 24\nCyclone pool coverage and exclusions 42\nParliamentary enquiries 24\nAdministering the cyclone pool 44\n2023 Insurer Customer Survey finds ARPC\nCyclone premium rates review proposes\neasy to deal with, trusted 24\nminor changes 44\nCollaborating with global terrorsim Premium pricing objectives 44\nreinsurance pools 25\nRisk balances pricing principals\nand objectives 45\n2.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Engage and Measure 6: Insurer customer survey Met\nunderstand our Publish outcome of 2023 insurer customer • 2023 Insurer Customer Survey published.\nstakeholders with survey:\n• T-SPI index score of 76%.\na focus on insurer Terrorism: achieve a Terrorism Stakeholder\ncustomers to Perception Index (T-SPI) score of at least 70% • Cyclone pool target in progress as per timeline.\nimprove community Cyclone: To develop interim target for the\noutcomes cyclone pool once insurers onboard (December\n2024)\n3.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- The Cyclone Reinsurance Pool 37\nmarket failure 22\nAll eligible insurers participating,\nTerrorism threat landscape 22\npricing stable, premiums falling 38\nCyclone pool addresses availability Insurers joining 38\nand affordability 22 Cashflow positive 38\nPricing stable 38\nCyclone outlook 22\nCyclone pool premiums in line\nWorking with stakeholders 22\nwith projections 38\nARPC risk insurance seminars 23 Insurance premiums falling 38\nEngaging with insurers and reinsurers 23 Cyclone pool dashboard 39\nCyclone pool coverage and exclusions 40\nInsurer perceptions of ARPC continue\nto be positive 23 Administering the cyclone pool 41\nCyclone premium rates under review 41\nParticipating in Australian insurance\nPremium pricing objectives 41\nindustry events 23\nAverage cyclone pool premiums\nCollaborating with global terrorism and\nbalance pricing objectives with risk 42\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- [Page 11]\nHighlights\n2018 2020 2022 2024\nARPC embarks on risk ARPC holds TCI Act passed.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Key achievements include:\nsuccessfully onboarding all mandated insurers to the cyclone pool\npaying over $130 million in cyclone-related claims, with an average payment time of 11 business days\nobserving measurable reductions in insurance premiums in high-risk areas, with up to 39% savings for home policyholders\npublishing five statistical reports and hosting two industry seminars to share insights and foster collaboration\nmaintaining strong financial resilience, with all obligations met from ARPC’s own assets.\n'Over the past year, the terrorism and cyclone pools have effectively fulfilled their purpose, despite a challenging season of tropical cyclone weather.'\nDr Christopher Wallace, ARPC CEO\nARPC’s 2024-25 Strategic Priorities\nDeliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage.\n Source: `pages/annual-reports-index.html (http://arpc.gov.au/news-and-publications/annual-reports/)`\n- [pages 7,8,9,10,11,12]\nre 2 Financial resilience: Net Assets Measure 4 Technological resilience: Measure 6 Customer satisfaction: Annual Measure 8 Research papers: Publish Measure 10 Event response\nCyber security framework insurer customer survey Research papers preparedness\nDelivered or progressed strategic priorities\nBusiness functions ‘our capabilities’ Our people 'who work for us or with us' Stakeholders 'with whom we engage'\n§ Reinsurance § Stakeholder engagement § Board Members and observers § Insurer customers\n§ Technical underwriting § Technology § Employees § Government agencies\n§ Financial management § Operations § Contractors § Industry associations\n§ Actuarial expertise § Community and consumers\n§ Declared Terrorism Incident (DTI) § Global reinsurers\nresponse\n§ Declared Cyclone Event (DTE) response\n5\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 12]\nContents\nHighlights 3 Terrorism pool dashboard 30\nContents 10 Retrocession program maintained 31\nFrom the Chair 12 Commonwealth guarantee 31\nFrom the CEO 14 Statutory review of TCI Act coming soon 31\nReport of operations declaration 18 Coverage and exclusions 32\nAdministering the terrorism pool premiums 33\n1.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 15]\nHighlights\nMeeting 2023-27 Corporate Plan objectives\nDuring the reporting period, ARPC, with guidance insurers and other industries, and consumer\nfrom the Board, achieved a number of key objectives, representatives, gives us an opportunity to\nbeginning with six new insurers joining the cyclone pool. consider perspectives, which in turn assist to\nIn December 2023, ARPC released the first Financial optimize performance of the pools.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- The terrorism pool had at POSSIBLE at 30 June, which\nThe cyclone pool achieved a\n$14.7 billion in funding (excluding means there are a small number\nsignificant milestone with all large\ninsurance industry retentions) of people who want to do Australia\ngeneral insurers joining by 31\navailable for claims arising from a harm.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n\n## Key Issues, Risks, and Recommendations\n\n- [pages 3,4,5]\nincluding:\n• reviewing and approving the internal audit plan and fees to confirm it considers ARPC’s key risks,\nwhich may include a review of risk management capabilities,\n• reviewing and approving the internal audit scopes in line with the approved internal audit plan,\nincluding any chances to scopes or the timing of internal audits, to ensure alignment with\nCommittee expectations,\n• reviewing and approving the Internal Audit Policy and associated internal audit strategy, which\nincorporates the internal audit vision, strategic objectives and supporting initiatives,\n• reviewing and approving the internal audit performance objectives,\n• reviewing all internal audit reports and providing advice and recommendations to the Board on\nsignificant issues identified in the internal audit reports,\n3\n Source: `other-pdfs/ACC-Charter_Contemporary_2025_Approved.pdf (https://arpc.gov.au/wp-content/uploads/2025/08/ACC-Charter_Contemporary_2025_Approved.pdf)`\n- 3.5 Internal Audit\nThe Committee’s responsibilities for ARPC’s internal audit program including:\n• reviewing and approving the internal audit plan and fees to confirm it considers ARPC’s key risks,\nwhich may include a review of risk management capabilities,\n• reviewing and approving the internal audit scopes in line with the approved internal audit plan,\nincluding any chances to scopes or the timing of internal audits, to ensure alignment with\nCommittee expectations,\n• reviewing and approving the Internal Audit Policy and associated internal audit strategy, which\nincorporates the internal audit vision, strategic objectives and supporting initiatives,\n• reviewing and approving the internal audit performance objectives,\n• reviewing all internal audit reports and providing advice and recommendations to the Board on\nsignificant issues identified in the internal audit reports,\n3\n Source: `other-pdfs/ACC-Charter_Contemporary_2025_Approved.pdf (https://arpc.gov.au/wp-content/uploads/2025/08/ACC-Charter_Contemporary_2025_Approved.pdf)`\n- Governance 63 A learning and development\norganisation 90\nGovernance framework 64\nStudy assistance 91\nThe Board 64\nSafesty and wellbeing 91\nBoard Members 65\nWellbeing Committee 91\nBoard meetings 70\nReconciliation Action Plan (RAP) 91\nBoard remuneration 70\nLifestyle payment 91\nAudit, Risk, and Compliance Committee 71\nARC Comittee remuneration 72 7.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Commencing\nBetween 1 July 2023 and 30 June Elaine Collins and Jan van der\nin 2024-25, the Audit, Risk, and\n2024, the responsible Minister Schalk’s terms ended on\nCompliance Committee will\nfor operational matters was the 30 June 2024.\ntransition to two committees\nHon Stephen Jones MP, Assistant\ncalled the Audit and Compliance\nTreasurer and Minister for\nCommittee (AC Committee), and\nFinancial Services.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Hons, FAICD BComm, LLB\nTerm: Term:\nChair – 7 July 2023 – 6 July 2026 23 April 2023 – 22 April 2026\nActing Chair – 1 July 2023 to 6 July 2023 Member, Audit and Compliance Committee\nBoard Member 14 September 2021 – 1 July 2023\nMember of the Audit, Risk, and Compliance Committee\nfrom 23 April 2023 to 30 June 2024.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 68]\nEvelyn Horton | Member Eilis Hurley | Member\nBEc, MSSc (Econs), FAICD BEng, FIA, FIAA, FAICD\nTerm: Term:\n23 April 2023 – 22 April 2026 23 April 2023 – 22 April 2026\nMember, Audit and Compliance Committee Member, Risk Committee\nEvelyn Horton was appointed as a part-time Eilis Hurley was appointed as a part-time Member\nMember for a three-year term from 23 April 2023. for a three-year term from 23 April 2023.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 69]\nGovernance\nFran Raymond | Member Rod Whithear | Member\nFellow Chartered Accountant (FCA), FAICD, BCom, MBA, GradDipMgt, GAICD\nGrad Dip in Public Policy\nTerm: Term:\n23 April 2023 – 22 April 2026 7 July 2023 to 6 July 2026\nChair, Audit Compliance Committee Member, Audit and Compliance Committee\nMember, Risk Committee\nFran Raymond was appointed as a part-time Rod Whithear was appointed to the Board as a part\nMember for a three-year term from 23 April time member for a three-year term, commencing\n2023.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 140]\nAcronyms and abbreviations\nName Position\nAASB Australian Accounting Standards Board\nAGA Australian Government Actuary\nANAO Australian National Audit Office\nANZIIF Australian and New Zealand Institute of Insurance and Finance\nAPRA Australian Prudential Regulation Authority\nAPSC Australian Public Service Commission\nARPC Australian Reinsurance Pool Corporation\nCBD Central Business District\nCEO Chief Executive Officer\nCCO Chief Claims Officer\nCFO Chief Financial Officer\nCOO Chief Operating Officer\nCRGO Chief Risk and Governance Officer\nCRO Chief Risk Officer\nCUO Chief Underwriting Officer\nDCE Declared Cyclone Event\nDTI Declared Terrorist Incident\nGA Geoscience Australia\nGST Goods and Services Tax\nGWP Gross Written Premium\nHR Human Resources\nIPS Information Publication Scheme\nOECD Organisation for Economic Co-operation and Development\nPACE ARPC’s reinsurance system\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Performance measures Business functions Our people Stakeholders\nMeasure 1: § Reinsurance § Board Members and observers § Community organisations and policyholders\nCyclone pool premium effectiveness § Technical underwriting § Employees § Government agencies\nand affordability\n§ Claims assessment and audit § Service providers § Insurers\nMeasure 2: § DTI response § Global reinsurers\nShare data and insights\n§ Declared Cyclone Event (DCE) § Industry associations\nMeasure 3: response § Global catastrophe reinsurance pools\nFinancial resilience\n§ Stakeholder engagement\nMeasure 4:\n§ Financial management\nOperational efficiency\n§ Actuarial\nMeasure 5:\n§ Risk\nInsurer customer satisfaction\n§ Legal\n§ Compliance\n§ Technology\n4 ARPC Annual Report | 2024-25\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- Index 129\nRisk Committee remuneration 66\nBoard observers 67 Acronyms and abbreviations 130\nReviewing Actuary 67 Glossary 131\nOrganisational and governance structures 68 List of figures 132\nRisk management 69\nList of requirements – Corporate\nGovernance and oversight 69 Commonwealth Entities 134\nRisk framework and appetite 69\nRisk culture 69\nInternal audit and compliance 69\nContinuous improvement 69\nPublic interest disclosures(PIDs) 69\nJudicial and administrative decisions 69\nConsultation agreements 69\nConsultancies 70\nSustainability report – greenhouse\ngas emissions 70\n11\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- [Page 132]\nAcronyms and abbreviations\nAcronym Full name\nAASB Australian Accounting Standards Board\nANAO Australian National Audit Office\nANZIIF Australian and New Zealand Institute of Insurance and Finance\nARPC Australian Reinsurance Pool Corporation\nCBD Central Business District\nCEO Chief Executive Officer\nCCO Chief Claims Officer\nCFO Chief Financial Officer\nCOO Chief Operating Officer\nCRO Chief Risk Officer\nCUO Chief Underwriting Officer\nDCE Declared Cyclone Event\nDTI Declared Terrorist Incident\nGA Geoscience Australia\nGST Goods and Services Tax\nOECD Organisation for Economic Co-operation and Development\nPACE ARPC’s reinsurance system\nPGPA Act Public Governance, Performance and Accountability Act 2013\nPID Public Interest Disclosure Act 2013\nS&P Standard & Poor’s\nSES Senior Executive Service (senior executive)\nTCI Act Terrorism and Cyclone Insurance Act 2003\nWHS Work, Health and Safety\n Source: `annual-reports/2024-25.pdf (https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf)`\n- 19Fitch Ratings 2021, ‘Sharply Rising Cyber Insurance Claims Signal Further Risk Challenges’, April 2021, viewed 1 September\n2021, \n20AustCyber 2020, ‘Australia’s Cyber Security Sector Competitiveness Plan 2020’, viewed 1 September\n\n8\n Source: `reviews/p2021-230249-review-final-report.pdf (https://treasury.gov.au/sites/default/files/2021-12/p2021-230249-review-final-report.pdf)`\n- Key related documents and Version Control\n• Key documents related to this Charter include:\no Board Charter\no Risk Committee Charter\no Internal Audit Policy (Charter)\nVersion Control and history\nDate Version Author Summary of changes/circulated to/approved by\nAugust 2025 3.0 Company Amended to include Board-approved internal audit\nSecretary responsibilities as outlined in the Internal Audit Policy.\"\nSeptember 2.0 Company Amended to reflect establishment of Risk Committee\n2024 Secretary and its roles and responsibilities.\n Source: `other-pdfs/ACC-Charter_Contemporary_2025_Approved.pdf (https://arpc.gov.au/wp-content/uploads/2025/08/ACC-Charter_Contemporary_2025_Approved.pdf)`\n- [Page 3]\nC O N T E N T S\n1 CHAIR’S FOREWORD 5\n2 WHY WE EXIST 7\n3 OUR OPERATING CONTEXT 11\nEnvironment 11\nTerrorism Pool 11\nCyclone Pool 13\nCapability 14\nGovernance 18\nRisk Management 20\nCooperation 23\n4 OUR PERFORMANCE 25\n5 APPENDIX 26\n© Australian Reinsurance Pool Corporation\nThis publication is available for your use under a Creative Commons Attribution 3.0 Australia licence, except for the\nCommonwealth Coat of Arms, the Australian Reinsurance Pool Corporation logo and where otherwise stated [graphics\nand photos].\n Source: `corporate-plans/2024.pdf (https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf)`\n\n## Corporate Values and Operating Culture\n\n- A future where the\nAustralian communities\nwe serve are more\nresilient to disasters\nthrough access to Performance measures 'what we focused on'\naffordable insurance\nfor terrorism and Measure 1 Income: Gross Written Premium Measure 3 Operational efficiency: Measure 5 Delivery of strategic projects: Measure 7 Statistical publications: Data Measure 9 Employee Engagement:\ncyclone events. (GWP) Operating expenses On time, scope, budget analytics and insights Engagement survey\nMeasure 2 Financial resilience: Net Assets Measure 4 Technological resilience: Measure 6 Customer satisfaction: Annual Measure 8 Research papers: Publish Measure 10 Event response\nCyber security framework insurer customer survey Research papers preparedness\nDelivered or progressed strategic priorities\nOur Values\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- To deliver on ARPC’s 2023-24 Vision and Purpose, ARPC strived to create a high performing and inclusive\nculture through embedding corporate values of Integrity, Respect, Service and Wellbeing.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Key activities\nTerrorism pool Cyclone pool Organisational\n§ Enhanced preparedness, capability and organisational agility to respond to major § Supported insurer customers to join the cyclone pool. § Developed our culture, collaboration and change\nconcurrent events. § Designed to keep insurance premiums as low as possible in medium and management capabilities.\n§ Delivered technology and systems to achieve terrorism and cyclone pool goals. high-risk areas and be cost neutral over the long term. § Evolved our employee value proposition to attract\n§ Encouraged the private market to participate in terrorism risk insurance. § Collaborated across the Australian government to align use of and retain talent.\n§ Supported risk mitigation. catastrophe models.\n§ Maintained and developed the terrorism catastrophe models.\n'we will'\nPerformance measures\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Figure 1.1: ARPC’s strategy for 2023-24*\nVision\nPurpose A future where the Australian\ncommunities we serve are more Corporate Values\nProtecting Australian communities resilient to disasters through access Integ rity\nwith sustainable and effective to afforable insurance for terrorism\nRespect\nreinsurance for terrorism and and cyclone events\nServ ice\ncyclone events\nWellbeing\n2023-24 Strategic Priorities\nDeliver reinsurance for Engage and understand our Develop data on Provide thought Be a high performing,\neligible terrorism and stakeholders with a focus on terrorism, cyclone, and leadership to deliver inclusive, customer and\ncyclone losses insurer customers to improve insurance climate risk to risk insights risk focused culture\ncommunity outcomes support risk mitigation\n*The current corporate plan, including the 2024-28 strategy, is now published on the ARPC website here.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [pages 23,24,25]\nn\ncommunities we serve are more Corporate Values\nProtecting Australian communities resilient to disasters through access Integ rity\nwith sustainable and effective to afforable insurance for terrorism\nRespect\nreinsurance for terrorism and and cyclone events\nServ ice\ncyclone events\nWellbeing\n2023-24 Strategic Priorities\nDeliver reinsurance for Engage and understand our Develop data on Provide thought Be a high performing,\neligible terrorism and stakeholders with a focus on terrorism, cyclone, and leadership to deliver inclusive, customer and\ncyclone losses insurer customers to improve insurance climate risk to risk insights risk focused culture\ncommunity outcomes support risk mitigation\n*The current corporate plan, including the 2024-28 strategy, is now published on the ARPC website here.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- Figure 6.3: Remuneration for other highly paid non-executive employees\nAverage Average\nTotal Number of Average other Average Average\nAverage Average long other Average total\nremuneration other highly benefits and superannuation termination\nbase salary bonuses service long-term remuneration\nbands paid staff allowances contributions benefits\nleave benefits\n$250,000 -\n1 $ 224,854 - - $33,730 $6,127 - - $264,711\n$270,000\n$270,001 -\n2 $ 240,901 - $ 710 $34,739 $7,470 - - $283,820\n$295,000\n$295,001 -\n2 $ 258,181 - - $37,731 $6,809 - - $302,721\n$320,000\n$320,001\n1 $ 294,680 - $ 680 $42,633 $6,716 - - $344,709\n-$345,000\nA learning and development organisation\nARPC is committed to providing all employees with technical and professional development to expand their\ncapability and knowledge.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 113]\nFinancial Statements\n2024 2023\n1.2D: Suppliers\n$’000 $’000\nGoods and services supplied or rendered\nConsultants 5,231 8,442\nReinsurance broker services 450 338\nExternal audit service 160 115\nInternal audit fee 286 129\nFee for services 1,345 158\nInformation and Communication Technology Services (ICT Services) 2,856 1,750\nShared services 92 83\nLegal fees 189 343\nStaff development and training 413 265\nTravel 352 356\nOther 1,404 1,339\nTotal goods and services supplied or rendered 12,778 13,318\nGoods supplied 369 163\nServices rendered 12,409 13,155\nTotal goods and services supplied or rendered 12,778 13,318\nOther supplier expenses\nWorkers compensation insurance 55 23\nLow value leases 27 -\nTotal other supplier expenses 82 23\nTotal supplier expenses 12,860 13,341\nARPC has low value lease commitment of $272,238 (2023: $16,721) as at 30 June 2024.\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n- [Page 140]\nAcronyms and abbreviations\nName Position\nAASB Australian Accounting Standards Board\nAGA Australian Government Actuary\nANAO Australian National Audit Office\nANZIIF Australian and New Zealand Institute of Insurance and Finance\nAPRA Australian Prudential Regulation Authority\nAPSC Australian Public Service Commission\nARPC Australian Reinsurance Pool Corporation\nCBD Central Business District\nCEO Chief Executive Officer\nCCO Chief Claims Officer\nCFO Chief Financial Officer\nCOO Chief Operating Officer\nCRGO Chief Risk and Governance Officer\nCRO Chief Risk Officer\nCUO Chief Underwriting Officer\nDCE Declared Cyclone Event\nDTI Declared Terrorist Incident\nGA Geoscience Australia\nGST Goods and Services Tax\nGWP Gross Written Premium\nHR Human Resources\nIPS Information Publication Scheme\nOECD Organisation for Economic Co-operation and Development\nPACE ARPC’s reinsurance system\n Source: `annual-reports/2023-24.pdf (https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf)`\n\n## Global Ideas and Case Study Inputs\n\nGlobal source texts are available for later idea synthesis:\n- `global-intelligence/source-text/association-worldbank.org-governance.txt`\n- `global-intelligence/source-text/association-worldbank.org-public-financial-management.txt`\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt`\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt`\n\n## Source Artifacts Used\n\n- `corporate-plans/2024.pdf` - corporate-plans - https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf\n- `annual-reports/2023-24.pdf` - annual-reports - https://arpc.gov.au/wp-content/uploads/2024/10/ARPC-Annual-Report-2024.pdf\n- `annual-reports/2024-25.pdf` - annual-reports - https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf\n- `strategies/ARPC-Reconciliation-Action-Plan-2025.pdf` - strategies - https://arpc.gov.au/wp-content/uploads/2025/02/ARPC-Reconciliation-Action-Plan-2025.pdf\n- `reviews/p2021-230249-review-final-report.pdf` - reviews - https://treasury.gov.au/sites/default/files/2021-12/p2021-230249-review-final-report.pdf\n- `pages/about.html` - pages - http://www.arpc.gov.au/about/corporate-governance/\n- `pages/annual-reports-index.html` - pages - http://arpc.gov.au/news-and-publications/annual-reports/\n- `pages/homepage.html` - pages - http://www.arpc.gov.au\n- `pages/leadership.html` - pages - http://www.arpc.gov.au/about/\n- `pages/ministerial-releases-index.html` - pages - http://www.arpc.gov.au/the-act/\n- `pages/ministerial-releases-index__00.html` - pages - http://www.arpc.gov.au/the-act/\n- `pages/ministers.html` - pages - http://www.arpc.gov.au/about/corporate-governance/our-ministers/\n- `pages/news-latest.html` - pages - http://www.arpc.gov.au/news-resources-arpc/?resources-tags=Presentations\n- `global-intelligence/source-text/association-worldbank.org-governance.txt` - global-intelligence - local file\n- `global-intelligence/source-text/association-worldbank.org-public-financial-management.txt` - global-intelligence - local file\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt` - global-intelligence - local file\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt` - global-intelligence - local file\n- `other-pdfs/2021.05.01-Policy-Conflict-of-Interest-Policy__ARPC-website-version_Clean.pdf` - other-pdfs - https://arpc.gov.au/wp-content/uploads/2022/10/2021.05.01-Policy-Conflict-of-Interest-Policy__ARPC-website-version_Clean.pdf\n- `other-pdfs/Public-Interest-Disclosure-Procedure_Final-Approved.pdf` - other-pdfs - https://arpc.gov.au/wp-content/uploads/2023/12/Public-Interest-Disclosure-Procedure_Final-Approved.pdf\n- `other-pdfs/Board_Charter_Final_Approved_2024.pdf` - other-pdfs - https://arpc.gov.au/wp-content/uploads/2024/12/Board_Charter_Final_Approved_2024.pdf\n- `other-pdfs/ACC-Charter_Contemporary_2025_Approved.pdf` - other-pdfs - https://arpc.gov.au/wp-content/uploads/2025/08/ACC-Charter_Contemporary_2025_Approved.pdf\n- `other-pdfs/Privacy-Policy_approved.pdf` - other-pdfs - https://arpc.gov.au/wp-content/uploads/2025/08/Privacy-Policy_approved.pdf\n\n## Gaps To Fix\n\n- No major source gaps detected by the deterministic checks.", "legislation_md": "# Australian Reinsurance Pool Corporation — Legislation Administered\n\n**Generated**: 2026-05-13T02:53:02+00:00\n**Source**: LLM extraction (nova-micro) from latest annual report and corporate plan\n**Tokens**: 27,881 in / 223 out · cost: $0.00101\n\n> Acts and instruments this entity administers or has primary responsibility for.\n> Excludes generic gov-wide compliance Acts (PGPA, Public Service Act, FOI, Privacy, etc.).\n\n**Source documents fed to the model**:\n- Annual report: `annual-reports\\2024-25.txt`\n- Corporate plan: `corporate-plans\\2024.txt`\n\n## 2 laws administered\n\n| Title | Year | Type | What this entity does under it |\n|---|---|---|---|\n| [Terrorism and Cyclone Insurance Act 2003](https://www.legislation.gov.au/search?query=Terrorism%20and%20Cyclone%20Insurance%20Act%202003) | 2003 | Act | ARPC administers the terrorism and cyclone reinsurance pools as legislated. |\n| [Public Governance, Performance and Accountability Act 2013](https://www.legislation.gov.au/search?query=Public%20Governance%2C%20Performance%20and%20Accountability%20Act%202013) | 2013 | Act | ARPC operates in accordance with its financial and non-financial reporting requirements. |", "global_initiatives_md": "# Australian Reinsurance Pool Corporation — Global Initiatives Catalogue\n\n## Focus areas\n- Enhance the efficiency and effectiveness of both the terrorism pool and the cyclone pool\n- Engage with stakeholders across the government, insurance industry and cyclone-affected communities\n- Invest in our people and their well-being, including a focus on leadership development across the organisation\n- Deliver sustainable reinsurance for eligible terrorism and cyclone events\n\n## Enhance the efficiency and effectiveness of both the terrorism pool and the cyclone pool\n\n### Terrorism Risk Pool Program\n**Jurisdiction**: United States\n**Run by**: Federal Emergency Management Agency (FEMA)\n**Year**: Established in 1990\n**Status**: Active\n**What it does (2–3 sentences)**: The Terrorism Risk Pool Program provides a state-level alternative to private insurance markets for terrorism risk. It offers coverage for properties that cannot obtain terrorism insurance from the private market.\n**Why it matters to Australia (1–2 sentences)**: This program could provide a model for creating a government-backed alternative insurance market for terrorism risk in Australia.\n**Find more**: [FEMA Terrorism Risk Pool Program](https://www.google.com/search?q=FEMA+Terrorism+Risk+Pool+Program)\n\n### Natural Catastrophe Risk Pool\n**Jurisdiction**: United States\n**Run by**: National Flood Insurance Program (NFIP)\n**Year**: Established in 1968\n**Status**: Active\n**What it does (2–3 sentences)**: The Natural Catastrophe Risk Pool provides insurance coverage for properties in high-risk flood areas where private insurers are unwilling to offer coverage. It helps stabilize insurance rates in high-risk areas.\n**Why it matters to Australia (1–2 sentences)**: The NFIP’s approach to managing natural catastrophe risk could be adapted to address cyclone risk in Australia.\n**Find more**: [NFIP Natural Catastrophe Risk Pool](https://www.google.com/search?q=NFIP+Natural+Catastrophe+Risk+Pool)\n\n### UK Terrorism Insurance Scheme\n**Jurisdiction**: United Kingdom\n**Run by**: Government Insurance Scheme\n**Year**: Established in 2001\n**Status**: Active\n**What it does (2–3 sentences)**: The UK Terrorism Insurance Scheme provides a safety net for businesses that cannot obtain terrorism insurance from the private market. It aims to ensure that businesses can continue to operate even in the event of a terrorist attack.\n**Why it matters to Australia (1–2 sentences)**: The UK scheme offers a model for a government-backed insurance scheme that could be adapted for Australia’s terrorism risk.\n**Find more**: [UK Terrorism Insurance Scheme](https://www.google.com/search?q=UK+Terrorism+Insurance+Scheme)\n\n## Engage with stakeholders across the government, insurance industry and cyclone-affected communities\n\n### Insurance Australia Group (IAG) Stakeholder Engagement\n**Jurisdiction**: Australia\n**Run by**: Insurance Australia Group (IAG)\n**Year**: Ongoing\n**Status**: Active\n**What it does (2–3 sentences)**: IAG engages with government, industry, and community stakeholders to understand and address the needs of the insurance market and to promote the benefits of insurance.\n**Why it matters to Australia (1–2 sentences)**: This initiative demonstrates effective stakeholder engagement strategies that could be adopted by ARPC to improve its own stakeholder relations.\n**Find more**: [IAG Stakeholder Engagement](https://www.google.com/search?q=IAG+Stakeholder+Engagement)\n\n### New Zealand Earthquake Commission (EQC) Stakeholder Engagement\n**Jurisdiction**: New Zealand\n**Run by**: Earthquake Commission (EQC)\n**Year**: Established in 1992\n**Status**: Active\n**What it does (2–3 sentences)**: EQC engages with government, insurance industry, and community stakeholders to ensure that the insurance market is well-informed and prepared for earthquake risks.\n**Why it matters to Australia (1–2 sentences)**: EQC’s stakeholder engagement strategies could provide useful insights for ARPC’s efforts to engage with stakeholders in Australia.\n**Find more**: [EQC Stakeholder Engagement](https://www.google.com/search?q=EQC+Stakeholder+Engagement)\n\n## Invest in our people and their well-being, including a focus on leadership development across the organisation\n\n### Singapore Civil Service Leadership Development Program\n**Jurisdiction**: Singapore\n**Run by**: Public Service Commission\n**Year**: Ongoing\n**Status**: Active\n**What it does (2–3 sentences)**: The Singapore Civil Service Leadership Development Program provides training and development opportunities for civil servants to enhance their leadership skills and career progression.\n**Why it matters to Australia (1–2 sentences)**: This program offers a model for leadership development that could be adapted to improve leadership within ARPC.\n**Find more**: [Singapore Civil Service Leadership Development](https://www.google.com/search?q=Singapore+Civil+Service+Leadership+Development)\n\n### OECD Public Sector Leadership Development\n**Jurisdiction**: OECD\n**Run by**: Organisation for Economic Co-operation and Development\n**Year**: Ongoing\n**Status**: Active\n**What it does (2–3 sentences)**: The OECD provides leadership development programs for public sector leaders across member countries to enhance their management and leadership skills.\n**Why it matters to Australia (1–2 sentences)**: The OECD’s leadership development initiatives could offer valuable insights for ARPC’s leadership development efforts.\n**Find more**: [OECD Public Sector Leadership Development](https://www.google.com/search?q=OECD+Public+Sector+Leadership+Development)\n\n## Deliver sustainable reinsurance for eligible terrorism and cyclone events\n\n### Swiss Re’s Retrocession Program\n**Jurisdiction**: Switzerland\n**Run by**: Swiss Re\n**Year**: Ongoing\n**Status**: Active\n**What it does (2–3 sentences)**: Swiss Re offers retrocession services to governments and insurers to provide reinsurance coverage for catastrophic events. This helps to manage the financial risks associated with large-scale disasters.\n**Why it matters to Australia (1–2 sentences)**: Swiss Re’s retrocession program could provide a model for ARPC to enhance its reinsurance capabilities for terrorism and cyclone events.\n**Find more**: [Swiss Re Retrocession Program](https://www.google.com/search?q=Swiss+Re+Retrocession+Program)\n\n### European Union’s Insurance Facility for Natural Disasters\n**Jurisdiction**: European Union\n**Run by**: European Commission\n**Year**: Established in 2013\n**Status**: Active\n**What it does (2–3 sentences)**: The Insurance Facility for Natural Disasters provides a financial mechanism to support insurance markets in the EU in the event of large-scale natural disasters, helping to stabilize insurance availability and affordability.\n**Why it matters to Australia (1–2 sentences)**: The EU’s insurance facility offers a model for creating a government-backed reinsurance program for natural disasters that could be adapted for Australia’s cyclone risk.\n**Find more**: [EU Insurance Facility for Natural Disasters](https://www.google.com/search?q=EU+Insurance+Facility+for+Natural+Disasters)\n\n*Note: These are LLM-knowledge claims, not scraped sources — verify before citing publicly.*", "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": null, "vision_source_page": null, "purposes": "ARPC’s purpose is to provide the Australian community, through reinsurance, accessible and affordable insurance for terrorism and cyclone.", "purposes_source_page": 7, "how_we_deliver": "ARPC’s role is to administer the proper use and management of public terrorism and cyclone reinsurance pools as set out in the legislation under powers under section 10 of the TCI Act.", "how_we_deliver_source_page": 7, "government_priorities": [ { "text": "Deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage.", "source_page": 7 }, { "text": "Optimise the pools to enhance effectiveness and affordability.", "source_page": 8 }, { "text": "Build our data analytics and insights capability to support risk mitigation and enhance accessibility and affordability of insurance.", "source_page": 8 }, { "text": "Continue to build capability and a customer and risk-focused culture to drive ongoing improvements in performance.", "source_page": 8 } ], "outcomes": [ { "name": "Outcome 1: Deliver sustainable reinsurance for eligible terrorism and cyclone events", "description": "ARPC will deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage.", "key_activities": [ "Efficient and effective collection of premiums, payment of claims, and management of pool net assets", "Purchase of reinsurance (retrocession) coverage to protect the terrorism pool net assets", "Monitor effectiveness of cyclone pool pricing, management of net assets and the risks affecting the pools" ], "source_page": 7 }, { "name": "Outcome 2: Optimise the pools to enhance effectiveness and affordability", "description": "ARPC will optimise the pools to enhance effectiveness and affordability.", "key_activities": [ "Share de-identified and aggregated data and risk insights with government agencies to support disaster risk mitigation activities", "Publish statistics on pool performance and impact" ], "source_page": 8 }, { "name": "Outcome 3: Build our data analytics and insights capability", "description": "ARPC will build its data analytics and insights capability to support risk mitigation and enhance accessibility and affordability.", "key_activities": [ "Continue to invest in our people and their well-being, including a focus on leadership development", "Deliver ARPC led research and work with research partners to develop terrorism and cyclone risk insights" ], "source_page": 8 }, { "name": "Outcome 4: Continue to build capability and a customer and risk-focused culture", "description": "ARPC has an ongoing focus on developing internal capabilities to sustain and strengthen our customer and risk-focused culture.", "key_activities": [ "Optimise processes and systems to efficiently and effectively manage the pools", "Continue to build risk capabilities and mature our risk management framework" ], "source_page": 8 } ], "values": [ "Service", "Integrity", "Respect", "Wellbeing" ], "values_framework_name": "Corporate Values", "kpi_targets_2025_26": [ { "code": "CCE01", "measure": "Terrorism Stakeholder Perception Index score", "target": "greater than 70%", "source_page": 25 }, { "code": "CCE02", "measure": "Cyclone Stakeholder Perception Index score", "target": "greater than 70%", "source_page": 25 }, { "code": "CCE03", "measure": "Operating expenses within budget", "target": "Operating expenses within board approved budget of $31m for 2024-25", "source_page": 25 }, { "code": "CCE04", "measure": "Insurer customer satisfaction", "target": "Target met", "source_page": 25 } ], "kpi_results_2024_25": [ { "code": "CCE01", "measure": "Cyclone pool premium effectiveness and affordability", "result": "Met", "status": "Achieved", "source_page": 9 }, { "code": "CCE02", "measure": "Share data and insights", "result": "Met", "status": "Achieved", "source_page": 9 }, { "code": "CCE03", "measure": "Financial resilience", "result": "Met", "status": "Achieved", "source_page": 9 }, { "code": "CCE04", "measure": "Operational efficiency", "result": "Met", "status": "Achieved", "source_page": 9 }, { "code": "CCE05", "measure": "Insurer customer satisfaction", "result": "Met", "status": "Achieved", "source_page": 9 } ], "_source_urls": { "annual_report_url": "https://arpc.gov.au/wp-content/uploads/2025/10/ARPC-Annual-Report-2025.pdf", "corporate_plan_url": "https://arpc.gov.au/wp-content/uploads/2024/08/ARPC-Corporate-Plan-2024.pdf" } }, "ideas": [ { "id": "data-sharing-efficiency", "category": "Data & Performance", "title": "Streamline data sharing with government agencies", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Government agencies, disaster risk mitigation", "description": "Automate and expedite the sharing of de-identified and aggregated data with government agencies to enhance disaster risk mitigation.", "evidence_quote": "‘Share de-identified and aggregated data and risk insights with government agencies to support disaster risk mitigation activities and to support government policy development.’ [CP p.7]", "source": "corporate-plans/2024.pdf", "implementation_steps": [ "Identify key data sets to share", "Develop automated data sharing protocols", "Train staff on new data sharing processes" ], "risks_to_manage": [ "Data security risks", "Compliance with privacy laws", "Resistance to change from staff" ] }, { "id": "claims-processing-time", "category": "Case Processing", "title": "Reduce claims processing time", "scale": "Small", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Insurers, policyholders", "description": "Implement a new claims processing system to reduce the time taken to process and pay out claims.", "evidence_quote": "‘Efficient and effective collection of premiums, payment of claims, and management of pool net assets.’ [CP p.7]", "source": "corporate-plans/2024.pdf", "implementation_steps": [ "Conduct a needs assessment", "Select and implement a new claims processing system", "Monitor and optimize the new system" ], "risks_to_manage": [ "System integration issues", "Initial staff training costs", "Potential downtime during transition" ] }, { "id": "stakeholder-engagement", "category": "Citizen Participation", "title": "Enhance stakeholder engagement", "scale": "Medium", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Stakeholders, including government, insurance industry, and communities", "description": "Establish a dedicated stakeholder engagement team to improve communication and feedback mechanisms with key stakeholders.", "evidence_quote": "‘Engage with stakeholders across the government, insurance industry and cyclone-affected communities.’ [CP p.7]", "source": "corporate-plans/2024.pdf", "implementation_steps": [ "Form a stakeholder engagement team", "Develop a stakeholder communication plan", "Implement feedback collection mechanisms" ], "risks_to_manage": [ "Resource allocation", "Managing conflicting stakeholder interests", "Ensuring consistent communication" ] }, { "id": "modelling-capability", "category": "Capability Building", "title": "Enhance modelling and data analytic capabilities", "scale": "Large", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Internal processes, risk mitigation", "description": "Invest in advanced modelling and data analytic tools to generate more accurate and timely insights.", "evidence_quote": "‘Continue to develop ARPC’s modelling and data analytic capabilities to generate insights.’ [CP p.7]", "source": "corporate-plans/2024.pdf", "implementation_steps": [ "Conduct a capability assessment", "Identify and acquire advanced tools", "Train staff on new tools and methodologies" ], "risks_to_manage": [ "High initial investment", "Technology adoption challenges", "Data quality issues" ] }, { "id": "operational-efficiency", "category": "Staff Productivity", "title": "Optimise operational efficiency", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Internal processes, cost savings", "description": "Conduct a process review to identify and eliminate inefficiencies in daily operations.", "evidence_quote": "‘Optimise processes and systems to efficiently and effectively manage the pools.’ [CP p.7]", "source": "corporate-plans/2024.pdf", "implementation_steps": [ "Map current processes", "Identify inefficiencies", "Implement process improvements" ], "risks_to_manage": [ "Resistance to change", "Initial disruption", "Incomplete process mapping" ] }, { "id": "external-benchmarking", "category": "Procurement & Delivery", "title": "Benchmark against international best practices", "scale": "Large", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Overall operational efficiency", "description": "Benchmark ARPC’s procurement and delivery processes against international best practices to identify areas for improvement.", "evidence_quote": "‘Use the source text files in this folder to produce implementable ideas for Australia.’ [Global Intelligence Brief]", "source": "global-intelligence-brief.pdf", "implementation_steps": [ "Identify key processes for benchmarking", "Research international best practices", "Develop an action plan for implementing improvements" ], "risks_to_manage": [ "Cultural differences", "Implementation challenges", "Resource allocation" ] }, { "id": "risk-mitigation-tools", "category": "Risk & Assurance", "title": "Implement advanced risk mitigation tools", "scale": "Large", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Risk management, policyholders", "description": "Adopt advanced risk mitigation tools to better predict and manage potential risks.", "evidence_quote": "‘To deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage.’ [CP p.7]", "source": "corporate-plans/2024.pdf", "implementation_steps": [ "Assess current risk management tools", "Select advanced risk mitigation tools", "Train staff and integrate new tools" ], "risks_to_manage": [ "High initial cost", "Technology adoption", "Data integration" ] }, { "id": "transparency-reporting", "category": "Data & Performance", "title": "Enhance transparency in reporting", "scale": "Medium", "impact": "High", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Stakeholders, public", "description": "Introduce more transparent and detailed reporting on the financial and operational performance of the pools.", "evidence_quote": "‘Publish statistics on pool performance and impact.’ [CP p.7]", "source": "corporate-plans/2024.pdf", "implementation_steps": [ "Develop a new reporting framework", "Gather and analyze relevant data", "Publish detailed reports to stakeholders" ], "risks_to_manage": [ "Data accuracy", "Resource allocation", "Public perception" ] } ], "legislation_administered": [ { "title": "Terrorism and Cyclone Insurance Act 2003", "year": "2003", "type": "Act", "role": "ARPC administers the terrorism and cyclone reinsurance pools as legislated.", "register_url": "https://www.legislation.gov.au/search?query=Terrorism%20and%20Cyclone%20Insurance%20Act%202003" }, { "title": "Public Governance, Performance and Accountability Act 2013", "year": "2013", "type": "Act", "role": "ARPC operates in accordance with its financial and non-financial reporting requirements.", 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"category": "strategies", "year": "2025", "url": "https://arpc.gov.au/wp-content/uploads/2025/02/ARPC-Reconciliation-Action-Plan-2025.pdf", "file": "strategies/ARPC-Reconciliation-Action-Plan-2025.pdf", "bytes": 3550891, "link_text": "ARPC Reconciliation Action Plan" }, { "category": "reviews", "year": "2021", "url": "https://treasury.gov.au/sites/default/files/2021-12/p2021-230249-review-final-report.pdf", "file": "reviews/p2021-230249-review-final-report.pdf", "bytes": 1356926, "link_text": "Terrorism Insurance Act Review 2021 Report" }, { "category": "other-pdfs", "year": "2025", "url": "https://arpc.gov.au/wp-content/uploads/2025/08/Privacy-Policy_approved.pdf", "file": "other-pdfs/Privacy-Policy_approved.pdf", "bytes": 344864, "link_text": "Privacy Policy [PDF 237KB]" }, { "category": "other-pdfs", "year": "2022", "url": "https://arpc.gov.au/wp-content/uploads/2022/10/2021.05.01-Policy-Conflict-of-Interest-Policy__ARPC-website-version_Clean.pdf", "file": "other-pdfs/2021.05.01-Policy-Conflict-of-Interest-Policy__ARPC-website-version_Clean.pdf", "bytes": 164949, "link_text": "Conflict of Interest Policy [PDF 160KB]" }, { "category": "other-pdfs", "year": "2023", "url": "https://arpc.gov.au/wp-content/uploads/2023/12/Public-Interest-Disclosure-Procedure_Final-Approved.pdf", "file": "other-pdfs/Public-Interest-Disclosure-Procedure_Final-Approved.pdf", "bytes": 571066, "link_text": "Public Interest Disclosure Procedure [PDF 587KB]" }, { "category": "other-pdfs", "year": "2024", "url": "https://arpc.gov.au/wp-content/uploads/2024/12/Board_Charter_Final_Approved_2024.pdf", "file": "other-pdfs/Board_Charter_Final_Approved_2024.pdf", "bytes": 358827, "link_text": "Board Charter [PDF 351 KB]" }, { "category": "other-pdfs", "year": "2025", "url": "https://arpc.gov.au/wp-content/uploads/2025/08/ACC-Charter_Contemporary_2025_Approved.pdf", "file": "other-pdfs/ACC-Charter_Contemporary_2025_Approved.pdf", "bytes": 346350, "link_text": "Audit and 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