PET - Plain English Taxonomy

Attribute:	CS24073
Concept:	Liabilities Insurance Outstanding Claims Liability Excluding Government Charges Amount
Label:	Outstanding Claims Liabilities
Concept Guidance:	This is the value, as at the relevant date, of the outstanding claims liability (OCL), determined in accordance with relevant prudential standards. OCL relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCL must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCL must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, but must be gross of input tax credit recoveries.

Dimensions

Dimension	Member	Description
CategoryOfInsurerDimension	(ForeignInsurerBranchesOperatingInAustralia)	This dimension is used to identify the category of the insurer reporting the information as defined in relevant prudential standards. The reported information relates to a category C insurer, a foreign general insurer operating as a foreign branch in Australia.A Category C insurer is a foreign insurer operating as a foreign branch in Australia and could be a branch of a foreign mutual or shareholder company.
InvestmentReportingBasisDimension	(LookThrough)	This dimension categorises information reported based on the method which determines the details in which an investment is reported. I.e. Look-through or Non-look-through. This information reported is on a look through basis. This basis requires the reporting party to report information on investments held through external individually managed mandates/portfolios or discretely managed portfolios as if they were managed by itself .
ProbabilisticOutcomesDimension	(ProbabilityOfSufficiency)	This dimension categorises the reported data according to the distribution of probabilistic outcomes. The information relates to the probability of sufficiency.The probability of sufficiency is the probability that an estimated provision will prove to be sufficient for the purpose for which it was created. This includes the risk margin as determined in accordance with relevant prudential standards.
RecoveriesValueTypeDimension	(Net)	This dimension identifies the valuation scenario, in relation to recoveries, under which the reported value was calculated. The information reported is in relation to the value that has been calculated after allowing for any adjustment to the value of the asset or liability in accordance with treatment permitted under accounting standards or prudential standards.
ReportingLocationDimension	(InsideAustralia)	This dimension categorises the reported data according to where it is deemed to be in accordance with the requirements of the relevant standards. The information reported is in relation to assets and liabilities defined under the Act as being in Australia.