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Circular No 10/16

PDF Format
This Circular
SOP
Contact Officers
Fiona Bowden (02) 6215 7909
Email
fiona.bowden@phiac.gov.au
Replaces Circular
N/A

27 August 2010

STANDARD OPERATING PROCEDURE – GIVING A COUNCIL DIRECTION

The purpose of this circular is to initiate an industry and stakeholder consultation process in relation to the development of the Private Health Insurance Administration Council’s (PHIAC’s) Standard Operating Procedure (SOP) “Giving a Council Direction”.

The SOP discusses four separate powers which the Council may employ to protect the interest of consumers and to ensure the individual safety of private health insurers:

  • a direction to comply with the solvency standard, as set out under section 140-20 of the Private Health Insurance Act 2007 (the Act)
  • a direction to comply with the capital adequacy standard, as set out under section 143-20 of the Act
  • a direction to comply with a prudential standard, as set out under section 163-15 of the Act
  • a direction to prevent or address a contravention of a council supervised obligation, as set out under section 200-1 of the Act.

All submissions regarding this SOP are to be directed to:

The Director - Industry Policy and Enforcement
Private Health Insurance Administration Council
PO Box 4549
KINGSTON ACT 2604

Or by email: phiac@phiac.gov.au marked "Giving Council Directions SOP".

Written submissions on the content of the draft SOP must be received by COB Friday 01 October 2010.

Submissions to PHIAC will be treated as public unless clearly marked as confidential.