Quick Links
0919
Circular No 09/19Contact Officers: Replaces Circular: N/A 11 November 2009 |
|
Circular No 09/19
Replaces Circular: N/A
11 November 2009
APPROVED FORM – NOTIFICATION OF CHANGE OF DIRECTOR
This information is being circulated for private health insurers and other interested parties.
Section 1(6) of Schedule 1 of the Private Health Insurance (Insurer Obligations) Rules 2009 (the Rules) requires a private health insurer to tell PHIAC, in an approved form, about a change in board membership or a change in the name or contact details of a director within 28 days of the change being made.
Section 1(5) of Schedule 1 of the Rules also states that:
(5) The directors must have a range of skills, knowledge and experience:
(a) to understand collectively the risks to the private health insurer; and
(b) to understand the insurer’s legal and prudential obligations; and
(c) to oversee effectively the management of the private health insurer; and
(d) to contribute effectively to the board’s deliberations and processes.
The attached approved form – notification of a change of director, requests that insurers attach a statement describing the skills, knowledge and experience of a new director which address the requirements of Section 1(5) of Schedule 1 of the Rules. This form replaces the notification of change of officer or director approved form.
This request for information is a requirement imposed by PHIAC pursuant to sections 172-1 and 264-20 of the Private Health Insurance Act 2007.
For further information, please contact Josh Edwards, Manager Prudential Standards and Training on (02) 6215 7916 or email josh.edwards@phiac.gov.au