Guidelines

The Emergency Services Levy Insurance Monitor (Insurance Monitor) has issued guidelines on prohibited conduct and other matters under the Emergency Services Levy Insurance Monitor Act 2016 (the Act).

Under section 21 of the  Act, the Insurance Monitor has the ability to issue guidelines to insurers about when conduct may be regarded as constituting prohibited conduct.

The Guidelines provide advice on how to avoid contravening the Act. Substantial penalties exist for contravention of the Act, including penalties of up to $10 million for a body corporate and $500,000 for an individual.

Four separate Guidelines have been issued by the Insurance Monitor, and are currently in effect:

Guidelines on the prohibition against price exploitation
 
Guidelines on the prohibition on engaging in false or misleading conduct in relation to the emergency services levy reform.  
 
Guidelines on Enforceable undertakings
 
Guidelines on Over-collection of ESL (June 2019)

Guidelines are effective immediately

If you have any questions in relation to the Guidelines, please contact the Monitor via email at: industry@eslinsurancemonitor.nsw.gov.au.

 

Guidelines in relation to Prohibited Conduct

Guidelines on Enforceable Undertakings

The current version of the Guidelines on Enforceable Undertakings were published in December 2017.

 

Guidelines on Over-collection of ESL

Under Part 3A of the Emergency Services Levy Insurance Monitor Act, the Monitor is obliged to investigate whether insurance companies issuing or renewing relevant insurance, have over-collected ESL.  The Guidelines set out the way the Monitor would conduct these investigations and specify the use of certain certain documents by insurance companies as part of these investigations.

The Monitor has completed his investigations on over-collection of ESL relating to the final 2 years of the emergency services funding scheme, being the financial years ended 30 June 2016 and 30 June 2017.

The Monitor will now be undertaking his investigations on over-collection of ESL for the transition period, being for the financial years ended 30 June 2018 and 30 June 2019.

On 28 June 2019, the Insurance Monitor published a revised version of the Guidelines on Over-collection of ESL for the transition period.

A Word version of Appendix A of the Guidelines is available here.

Appendix B - ESL Disclosure, of the Guidelines is an excel file which is available here.

Appendix C - ESL Declaration of the Guidelines is available as a Word document here.

Appendix D - Auditor Review Report is available here.

Important: The templates for the ESL Disclosure, ESL Declaration and the Auditor Review Report are in the prescribed format required by the Guidelines and any changes to the template will not be accepted by the Monitor.

 

Key dates

  • 28 June 2019
    Revised Guidelines on Over-collection of ESL for the transition period were published, replacing the December 2017 version of the guidelines.
  • 8 December 2017
    New Guidelines on Enforceable undertakings and Over-collection of ESL are issued. Revised Guidelines on the prohibition against price exploitation are issued.
  • 16 November 2017
    Draft Guidelines on: 1. the use of Enforceable undertakings and 2. Over-collection of ESL with comments due by 1 December 2017.
  • 14 July 2017
    Re-issue of Guidelines on the prohibition against price exploitation and the prohibition on engaging in false or misleading conduct in relation to the emergency services levy reform.
  • 28 April 2017
    Revised Guidelines on the prohibition against price exploitation issued.
  • 9 September 2016
    Guidelines issued on the prohibition against price exploitation and the prohibition on engaging in false or misleading conduct in relation to the emergency services levy reform.
  • 2 August 2016
    Deadline for the receipt of submissions on the draft guidelines.
  •  5 July 2016
    Draft guidelines issued: Guidelines on the prohibition against price exploitation and Guidelines on false or misleading conduct in relation to the emergency services levy reform (attached above).
    Response date: 2 August 2016.