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Circular No 07/06

Home » Circulars » 2007 » 07/06

General PHIAC Circulars

Circular No 07/06

Contact Officers:
Paul Collins (02) 6215 7955
email: paul.collins@phiac.gov.au

Replaces Circular: NA

27 February 2007

PDF Format:

Circ 07/06

FLUCTUATION IN CLAIMS PROCESSING EXPECTED TO AFFECT REINSURANCE RESULTS IN MARCH 2007

PHIAC has been advised by MBF Australia, typically a recipient from the Reinsurance pool, that claims in the December 2006 quarter were not processed as quickly as usual due to the implementation of a new administration system in New South Wales and Victoria. This resulted in a markedly lower amount of claims being reported in New South Wales in the December quarter.

It is anticipated that the backlog for New South Wales will be cleared in the March 2007 quarter. Insurers should take into account the likely effect on their Reinsurance.