PET - Plain English Taxonomy

Attribute:	PL13548
Concept:	Expense Insurance Claims Gross Amount
Label:	Gross Claims Expense
Concept Guidance:	This is the value of insurance claims expense recognised during the relevant period, gross of any associated insurance recoveries. This item is to be determined in accordance with relevant accounting standards.This item is calculated as the sum of paid claims and the movement in outstanding claims liabilities over the relevant period.
Form-Specifc Guidance:	For the purpose of Discretionary Mutual Fund (DMF) reporting, this is the value of gross claims expense. Gross claims expense represents 'claim payments made in the current year' plus 'Outstanding Claims Liability (OCL) at the end of the year' less 'OCL at the beginning of the year'.

Dimensions

Dimension	Member	Description
CounterpartyRelationshipTypeDimension	(Associate)	This dimension categorises reported information based on the type of relationship between two or more counterparties. The counterparty in relation to the information is an Associate of the reporting party.This selection will be applicable where there have been transactions between the reporting party and any associates of the reporting party. Associate is defined in accordance with the definition provided in the current Australian Accounting Standard relating to investments in associates as meaning an investee not being a:(a) subsidiary of the investor; or(b) partnership of the investor; or(c) investment acquired and held exclusively with a view to its disposal in the near future; over which the investor has significant influence. Significant influence is defined in accordance with the definition provided in the current Australian Accounting Standard relating to investments in associates as significant influence as the power to participate in the financial and operating policy decisions of the investee but not to control those policies.

Dimension

Member

Description

CounterpartyRelationshipTypeDimension

(Associate)

This dimension categorises reported information based on the type of relationship between two or more counterparties.
The counterparty in relation to the information is an Associate of the reporting party.This selection will be applicable where there have been transactions between the reporting party and any associates of the reporting party. Associate is defined in accordance with the definition provided in the current Australian Accounting Standard relating to investments in associates as meaning an investee not being a:(a) subsidiary of the investor; or(b) partnership of the investor; or(c) investment acquired and held exclusively with a view to its disposal in the near future; over which the investor has significant influence. Significant influence is defined in accordance with the definition provided in the current Australian Accounting Standard relating to investments in associates as significant influence as the power to participate in the financial and operating policy decisions of the investee but not to control those policies.