Section 57

Under the Emergency Services Levy Insurance Monitor Act 2016 (the Act), the Monitor may impose upon persons a requirement to provide information, records  or both (section 57).  

Where possible, the Insurance Monitor minimises the burden placed on the industry by limiting both the information required under each requirement and the number of insurance companies upon whom requirements are imposed.

Aggregate data request

Companies will be required to provide data for either or both Schedule B1 and/ or B2, or Schedule D, as stated in the relevant s57 data requirement issued.   

For security reasons, persons receiving a section 57 notice must return the requested information via the Monitors established data portal. 

Companies will be notified in writing which schedule/s apply. If you have any questions in relation to this notice, or the Monitor’s data portal, please email the Monitor at industry@eslinsurancemonitor.nsw.gov.au

Schedule B1

On 13 October 2017, the Monitor’s delegates issued a section 57 notice to a number of insurance companies. Persons receiving the section 57 notice are required to download, complete and return an excel spreadsheet (Schedule B1, attached below) on the dates within the table, which have been extended to 31 March 2020.

Insurance companies are asked to provide four months data each quarter, which includes the three months for the reporting quarter, plus the last month of the previous quarter. Insurers that are able to provide three months of data only are required to also submit a Declaration form, signed by the Chief Financial Officer, confirming that the data provided previously has not changed.

Data submissions of three months will not be accepted unless accompanied by a completed Declaration form, including the company’s logo. [Declaration form is attached with Schedule B1 information below.]

Schedule B2

Certain insurance companies will be required complete Schedule B2 by providing aggregate data about ESL recovered through premiums received for  items 7 and 8 (a) to(e) of Schedule 1 to the ESL Act.   Companies will be notified in writing if this applies.

Schedule D

Certain insurance companies will be required to provide aggregate data about premiums and ESL received for items 1 to 8 (a) to (e) of Schedule 1 of the ESL Act during the financial years 2017-18 and 2018-19 (transition period) using Schedule D.  Companies will be notified in writing if required to complete Schedule D.

Insurance companies are required to respond on or before 16 September 2019.

Monitor’s Schedule B1

Click here to download the Schedule B1 spreadsheet. If your company is supplying three months of data only, then a signed Declaration form is also required to be submitted at the same time.  Declaration Form

Please complete and return Schedule B1 to the Insurance Monitor's office, via the data portal as per the dates indicated in the table below.

Notices are to be signed, or otherwise authenticated, by the company’s properly authorised and identified officer or agent.

Period Number Period covered Due dates
1 1 July 2017 – 31 October 2017 13-Nov-17
2 1 October 2017 – 31 December 2017 19-Jan-18
3 1 December 2017 – 31 March 2018 16-Apr-18
4 1 March 2018 – 30 June 2018 13-Jul-18
5 1 June 2018 – 31 September 2018 12-Oct-18
6 1 September 2018 – 31 December 2018 18-Jan-19
7 1 December 2018 – 31 March 2019 12-Apr-19
8 1 March 2019 – 30 June 2019 12-Jul-19
9 1 June 2019 – 30 September 2019 11-Oct-19
10 1 September 2019 -31 December 2019 17-Jan-20
11 1 December 2019 - 31 March 2020 10-Apr-20

Monitor’s Schedule B2

In May 2019, the Monitor's delegate issued a requirement under s57 of the Act requiring certain insurance companies to provide information about the premiums and attributable charges they recovered from the issue or renewal of policies of insurance described in items 7 and 8 (a)-(e) of Schedule 1 of the ESL Act for the period 1 July 2018 to 31 March 2020.  

The recipients of this notice are required to respond using Schedule B2 attached below. Data for periods to 31 March 2020 (periods 5 to 8 in table below) is to be submitted to the Monitor via the Monitor's data portal on or before 12 July 2019. Thereafter, data is to be submitted according to the relevant due dates given in the table below.

Schedule B2

Notices are to be signed, or otherwise authenticated, by the company’s properly authorised and identified officer or agent.

Excel  

Period Number Period covered by Schedule B2 Due dates
5 1 July 2018 – 31 September 2018 12-Jul-19
6 1 October 2018 – 31 December 2018 12-Jul-19
7 1 January 2018 – 31 March 2019 12-Jul-19
8 1 April 2019 – 30 June 2019 12-Jul-19
9 1 June 2019 – 30 September 2019 11-Oct-19
10 1 September 2019 -31 December 2019 17-Jan-20
11 1 December 2019 - 31 March 2020 10-Apr-20

If you have any questions in relation to this notice, or the Monitor’s data portal, please email the Monitor at industry@eslinsurancemonitor.nsw.gov.au

 

Monitor's Schedule D

In late June 2019 the Monitor issued notices under s57 requiring certain insurance companies to provide aggregate data about premiums, including ESL received from contracts described in items 1 to 8 (a) to (e) of Schedule 1 of the ESL Act during the financial years 2017-18 and 2018-19 (transition period) using Schedule D.

Insurance companies are required to respond on or before 16 September 2019.

Notices are to be signed, or otherwise authenticated, by the company’s properly authorised and identified officer or agent.  (You may wish to use the attached declaration template below).

 

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Further Guidance - Schedule B1 and B2

The following is offered for the assistance of those responding to the questions in Schedule A to the requirement in writing issued under section 57 of the Emergency Services Levy Insurance Monitor Act 2016 (“the Act”).
Where a single regulated contract of insurance [relevant insurance] relates to more than one identifiable physical asset or risk insured by the company, the company should identify that regulated contract of insurance, for the purposes of Schedule A to the notice, as follows:

(a) Record the required details of the contract of insurance only once in Columns A – F, in Schedule B, B1 or B2 as applicable. Record it in the Table relating to the type of insurance contract which attracts the highest level of emergency services levy (“ESL”) contribution.

(b) Record the required details of the total sum insured only in respect of House owners and Householders building insurance (residential buildings, contents or both) in Table 2 of Schedule B or B1; and

(c) Record the required details relating to base premium, ESL amount and gross premium in each of the Tables in Schedule B, B1 or B2 as applicable, relating to the nature of each separately identifiable physical asset or risk.

For example: if, under a single regulated contract of insurance, an insurance company insures separately identifiable items being:
     (i) Commercial property;
    (ii) Residential property; and
   (iii) A motor vehicle—

Columns A-F (where applicable) should be completed only in Table 1 of Schedule B or B1 as applicable.
The details of the sum insured etc., for the residential property only should be included in Columns G-J in Table 2 of Schedule B or B1.
Columns K to V in Schedule B or B1 as applicable should be completed for each of the separately identifiable items or risks in Tables 1, 2 and 4.

Definition of Refund

“Refund” means any payment, reimbursement or allowance made or given, by or on behalf of an insurance company to a policyholder, of all or any part of the premium paid or payable by that policyholder for the issue or renewal of a regulated contracts of insurance.

Further Guidance - Schedule D

The following is offered for the assistance of those responding to the questions in Schedule A to the requirement in writing issued under section 57 of the Emergency Services Levy Insurance Monitor Act 2016 (“the Act”).
Where a single regulated contract of insurance [relevant insurance] relates to more than one identifiable physical asset or risk insured by the company, the company should identify that regulated contract of insurance, for the purposes of Schedule A to the notice, as follows:

(a) Record the required details of the contract of insurance only once in Columns A – F, in Schedule D as applicable. Record it in the Table relating to the type of insurance contract which attracts the highest level of emergency services levy (“ESL”) contribution.

(b) Record the required details of the total sum insured only in respect of House owners and Householders building insurance (residential buildings, contents or both) in Table 2 of Schedule D; and

(c) Record the required details relating to base premium, ESL amount and gross premium in each of the Tables in Schedule D as applicable, relating to the nature of each separately identifiable physical asset or risk.

For example: if, under a single regulated contract of insurance, an insurance company insures separately identifiable items being:
     (i) Commercial property;
    (ii) Residential property; and
   (iii) A motor vehicle—

Columns A-F (where applicable) should be completed only in Table 1 of Schedule D as applicable.
The details of the sum insured etc., for the residential property only should be included in Columns G-J in Table 2 of Schedule D.
Columns K to V in Schedule D as applicable should be completed for each of the separately identifiable items or risks in Tables 1, 2 and 4.

Definition of Refund

“Refund” means any payment, reimbursement or allowance made or given, by or on behalf of an insurance company to a policyholder, of all or any part of the premium paid or payable by that policyholder for the issue or renewal of a regulated contracts of insurance.

Definition of Risk

"Risk" refers to each separately identifiable physical asset or item, as the case may be, that is covered under a regulated contract of insurance.

Over-collection of ESL

The Emergency Services Levy Insurance Monitor is obliged by Part 3A of the Emergency Services Levy Insurance Monitor Act 2016 to investigate and assess whether insurance companies are liable for over-collection amounts during the financial years commencing on 1 July 2017 and 1 July 2018, respectively (the "transition period").

On 28 June 2019, the Insurance Monitor published revisions to his Guidelines on the Over-collection of ESL for the Transition Period.  Under the Guidelines, insurance companies are required to provide certain information to the Insurance Monitor to assist him in his investigations.

The Insurance Monitor's delegate will be writing to individual insurance companies to notify them of the requirement for them to provide information for this purpose.  A sample copy of that correspondence is available here.

Insurance companies should note that the information requested must be submitted in the prescribed form by 4.00pm on 30 September 2019.

Insurance companies are reminded that a failure by a person to comply with a requirement issued under Section 57 of the Act, without reasonable excuse, is an offence punishable upon conviction with a fine not exceeding 100 penalty units and associated court costs.

All enquiries regarding this correspondence should be sent to industry@eslinsurancemonitor.nsw.gov.au

 

Documents required

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.

Standard Profile quotes

The Insurance Monitor collects monthly premium quotes for a standard profile property at 11 residential addresses across NSW. Quotes are supplied by 13 insurance brands, pursuant to a statutory notice. The insurance brands required to provide information are: AAMI, Allianz, CGU, Coles, CommInsure, GIO, NRMA, OnePath, QBE, Suncorp, Westpac, Woolworths and Youi.

From 1 July 2018, insurers providing standard quotes are to do so using the attached template.

Standard profile template

The monthly standard profile template is attached below.  Please complete and return via the Monitor's portal by due dates set out in the s57 notice.

If you have any questions please contact: industry@eslinsurancemonitor.nsw.gov.au

excel sheet

s57 Notice & FAQs - standard profile quotes

s57 Notice, issued May 2018.  Pdf size: 36 KB

pdf

 

FAQs in relation to s57 notice. Pdf size: 170 KB

pdf

 

ESL rates

On 12 October 2017, the Monitor’s delegates issued a section 57 notice to a number of insurance companies.  Persons receiving the section 57 notice are required to download, complete and return an excel spreadsheet (ESL rates table, attached below) as per the due dates identified in the table.

For security reasons, persons receiving a section 57 notice must return the requested information via the Monitors established data portal. 

If you have any questions in relation to this notice, or the Monitor’s data portal, please email the Monitor at industry@eslinsurancemonitor.nsw.gov.au

ESL rates table

Click to download the ESL rates table.

Excel

Please complete and return to the Insurance Monitor, via the data portal as per the due dates identified in the table, and marked for the attention of David Columbro.

Notices are to be signed, or otherwise authenticated, by the company’s properly authorised and identified officer or agent.

Communications

Between 6 - 11 April 2018 the Monitor’s delegates issued a section 57 notice to a number of insurance companies.  Persons receiving the notice are required to provide samples of communication documents relating to the measures undertaken by the company to inform its policyholders about the re-establishment of the ESL and any changes in the premiums payable, both as a consequence and generally.  A total of 15 companies have been issued with this notice. Responses are due as per the due date stated in the notice. 

Communications - list of companies

Companies required to provide samples of communications issued to policyholders in relation to the re-establishment of the ESL. 

COMPANY NAME ACN DATE SENT/SERVED DUE DATE
AAI Limited ACN 005 297 807 6-Apr-18 24-Apr-18
AIG Australia Limited ACN 004 727 753 10-Apr-18 24-Apr-18
Aioi Nissay Dowa Insurance Company Australia Pty Ltd ACN 132 525 282 9-Apr-18 24-Apr-18
Allianz Australia Insurance Limited ACN 000 122 850 9-Apr-18 24-Apr-18
Auto & General Insurance Company Limited ACN 111 586 353 6-Apr-18 24-Apr-18
Catholic Church Insurance Limited ACN 000 005 210 9-Apr-18 24-Apr-18
Chubb Insurance Australia Limited ACN 001 642 020 11-Apr-18 1-May-18
Commonwealth Insurance Limited ACN 067 524 216 6-Apr-18 24-Apr-18
Great Lakes Insurance SE (Trading as Great Lakes Australia) ARBN 127 740 532 10-Apr-18 1-May-18
Insurance Australia Limited ACN 000 016 722 6-Apr-18 24-Apr-18
QBE Insurance (Australia) Limited ACN 003 191 035 6-Apr-18 24-Apr-18
The Hollard Insurance Company Pty Ltd ACN 090 584 473 6-Apr-18 24-Apr-18
Westpac General Insurance Limited ACN 003 719 319 6-Apr-18 24-Apr-18
Youi Pty Ltd ACN 123 074 733 6-Apr-18 24-Apr-18
ZurichAustralian Insurance limited ACN 000 296 640 6-Apr-18 24-Apr-18