PET - Plain English Taxonomy

Attribute: PL15227
Concept:
Label: Gross Claim Payments
Concept Guidance:
This is the value of insurance claims payments, as at the relevant date. This item is to be reported gross of any associated reinsurance recoveries, but net of any associated non-reinsurance recoveries.This includes non-reinsurance recoveries that have been received or are expected to be received only in relation to claims already paid. 
Dimensions
Dimension Member Description
(ReinsuranceBusiness)
This dimension is used to categorise information according to business activity.
Report where the class of business relates to reinsurance contracts.Reinsurance contracts are insurance contracts where the policyholder is an insurer or reinsurer. Policyholder means a party that has a right to compensation under an insurance contract if an insured event occurs.
This dimension is used to categorise reported information according to the arrangements under the contract to which the data relates.
This dimension categorises reported data according to predefined product groups.
This dimension is used to categorise reported insurance information based on the underwriting year to which the data relates.Underwriting year refers to the financial year of the insurer in which the insurance policy incepts, regardless of when the premiums and claims are actually reported, booked or paid. For example, the 2005 underwriting year for an insurer with a 30 June balance date includes premiums and claims (both paid and outstanding) attaching to policies incepting in the period 1 July 2005 to 30 June 2006. For an insurer with a 31 December balance date, the 2005 underwriting year includes premiums and claims (both paid and outstanding) attaching to policies incepting in the period 1 January 2005 to 31 December 2005.