PET - Plain English Taxonomy

Attribute:	PL15221
Concept:	Expense Insurance Total Ultimate Cost Gross Reinsurance Recoveries And Net Non Reinsurance Recoveries Amount
Label:	Total Gross Ultimate Cost (IUD)
Concept Guidance:	This is the value of the total gross ultimate cost (inflated & undiscounted) of claims, as at the relevant date.This item represents the sum of: - gross claims payment expenses incurred, as at the relevant date; - gross case estimates as at the relevant date; and - gross claims incurred but not reported (IBNR)/incurred but not enough reported (IBNER) as at the relevant date;

Dimensions

Dimension	Member	Description
AccidentYearDimension	(OI10817)	This dimension is used to categorise reported insurance information based on the accident year to which the data relates.Accident year refers to the financial year of the insurer that the losses/claims are incurred. For example, the 2007 accident year for an insurer with a balance date of 30 June will relate to claims with dates of loss (regardless of notification date) occurring between 1 July 2006 and 30 June 2007.
ClassOfBusinessDimension	(DirectBusiness)	This dimension is used to categorise information according to business activity. Report where the class of business relates to direct insurance contracts.Insurance contracts are classified as 'direct' when the reporting party has a contract directly with a policyholder that is not an insurer or reinsurer. Policyholder means a party that has a right to compensation under an insurance contract if an insured event occurs.
ContractArrangementDimension	(OI10811)	This dimension is used to categorise reported information according to the arrangements under the contract to which the data relates.
ProductGroupDimension	(OI10811)	This dimension categorises reported data according to predefined product groups.