PET - Plain English Taxonomy

Name: ProductGroupDimension
Label: Product Group Dimension
TREF ID: DM423
Type: Predefined
Description:
This dimension categorises reported data according to predefined product groups.
Usage:

Dimension Members
Name Label TREF ID Description
AnnuitySuperannuation Annuity Superannuation DV5145
Products related to annuities and superannuation. Superannuation comprises policies or schemes which provide primarily for retirement benefits. Annuities comprise products with periodic payment of a fixed or variable amount arising out of a contract obligation
AnnuityWithLongevityRisk Annuity With Longevity Risk DV5129
Annuities providing periodic payments that are dependent on the continuance of human life
AnnuityWithoutLongevityRisk Annuity Without Longevity Risk DV5135
Annuities providing periodic payments that are NOT dependent on the continuance of human life
Aviation Aviation DV4722
The information reported is in relation to those insurance products classed as Aviation products.Aviation products include aircraft hull and aircraft liability policies.
CTPMotorVehicleInsurance Compulsory Third Party (CTP) Motor Vehicle Insurance DV4788
The information reported is in relation to those insurance products classed as Compulsory Third Party (CTP) Motor Vehicle products.This class consists of CTP business only.
CapitalGuaranteedDefinedContributionFuneral Capital Guaranteed Defined Contribution Funeral DV5143
Capital guaranteed funeral products that are classified as Defined Contribution.
Casualty Casualty DV4910
The information reported is in relation to those insurance products classed as Casualty products.
CatastropheCover Catastrophe Cover DV6952
It represents reinsurance which, subject to a specified limit, indemnifies the reinsured for the amount of loss in excess of a specified retention with respect to an accumulation of losses resulting from a catastrophic event or series of events.
CategoryA Category A DV6105
The information reported is in relation to the insurance business that is category A, as per the relevant prudential standards.
CategoryANonProportional Category A Non Proportional DV6085
The information reported is in relation to the insurance business that is category A non-proportional, as per the relevant prudential standards.
CategoryAProportional Category A Proportional DV6095
The information reported is in relation to the insurance business that is category A proportional, as per the relevant prudential standards.
CategoryB Category B DV6097
The information reported is in relation to the insurance business that is category B, as per the relevant prudential standards.
CategoryBNonProportional Category B Non Proportional DV6091
The information reported is in relation to the insurance business that is category B non-proportional, as per the relevant prudential standards.
CategoryBProportional Category B Proportional DV6084
The information reported is in relation to the insurance business that is category B proportional, as per the relevant prudential standards.
CategoryC Category C DV6102
The information reported is in relation to the insurance business that is category C, as per the relevant prudential standards.
CategoryCNonProportional Category C Non Proportional DV6086
The information reported is in relation to the insurance business that is category C Non proportional, as per the relevant prudential standards.
CategoryCProportional Category C Proportional DV6103
The information reported is in relation to the insurance business that is category C proportional as per relevant prudential standards.
CommercialMotorVehicle Commercial Motor Vehicle DV4717
The information reported is in relation to those insurance products classed as Commercial Motor Vehicle products.Commercial Motor Vehicle insurance (including third party property damage) excludes insurance covering vehicles defined as Domestic Motor Vehicles (e.g. private use motor vehicles including utilities and lorries, motor cycles, private caravans, box and boat trailers and other vehicles not normally covered by business or commercial policies). Commercial Motor Vehicles include long and medium haul trucks, cranes and special vehicles and policies covering fleets.This excludes Compulsory Third Party (CTP) Motor Vehicle products.
ConsumerCredit Consumer Credit DV4724
The information reported is in relation to those insurance products classed as Consumer Credit products.Consumer Credit products provide insurance to protect a consumer's ability to meet the loan repayments on personal loans and credit card finance in the event of death or loss of income due to injury, illness or unemployment.
ConventionalParticipating Conventional Participating DV5141
Includes Whole of Life policies and Endowment policies
DefinedBenefitRisk Defined Benefit Risk DV5144
All products classified as Defined Benefit, including defined benefit funeral products.
DomesticMotorVehicle Domestic Motor Vehicle DV4718
The information reported is in relation to those insurance products classed as Domestic Motor Vehicle products.Domestic Motor Vehicle insurance (including third party property damage) excludes insurance covering vehicles defined as Commercial Motor Vehicles (e.g. long and medium haul trucks, cranes and special vehicles and policies covering fleets). Domestic Motor Vehicles are typically private use motor vehicles including utilities and lorries, motor cycles, private caravans, box and boat trailers and other vehicles not normally covered by business or commercial policies.This excludes Compulsory Third Party (CTP) Motor Vehicle products.
Education Education DV5132
All products classified as Education related.
EmployersLiability Employers Liability DV4791
The information reported is in relation to those insurance products classed as Employers' Liability (EL) products.Employers' Liability products include worker's compensation, seamen's compensation and domestic workers compensation.
FireAndIndustrialSpecialRisks Fire And Industrial Special Risks (ISR) DV4720
The information reported is in relation to those insurance products classed as Fire or other Industrial Special Risks (ISR) products.Fire products represent all policies normally classified as 'Fire' and include:     - Sprinkler leakage;     - Subsidence;     - Windstorm;     - Hailstone;     - Crop;     - Arson; and     - Loss of profits and any extraneous risk normally covered fire policies, e.g. flood.ISR products represent those with standard policy wordings for this type of policy. All policies which contain such standard wordings or where the wording is substantially similar are to be classified as ISR.
GroupDisabilityIncomeInsurance Group Disability Income Insurance DV5128
Disability Income Insurance policies issued on a group basis
GroupLumpSumRisk Group Lump Sum Risk DV5137
Lump sum risk policies issued on a group (wholesale) basis
HouseownersHouseholders House Owners/House Holders DV4449
The information reported is in relation to those insurance products classed as Houseowner/Householder products.The houseowner/householder product class covers the common H & H policies, including:     - Contents;     - Personal property;     - Arson; and     - Burglary.Public liability normally attaching to these products are not to be reported at this item.
IndividualDisabilityIncomeInsurance Individual Disability Income Insurance DV5138
Disability Income Insurance policies issued to individuals
IndividualLumpSumRisk Individual Lump Sum Risk DV5139
Lump sum risk policies issued on an individual (retail) basis. Includes non-participating conventional policies
InvestmentAccount Investment Account DV5146
As defined in Section 14 of the Life Insurance Act 1995.
InvestmentLinked Investment Linked DV5131
As defined in section 14 of the Life Insurance Act 1995.
LifeAndContinuousDisability Life And Continuous Disability DV5498
The information reported is in relation to those insurance products classed as life and continuous disability cover.Continuous disability is cover:     - that is, by its terms, to be more than 3 years' duration; and     - under which a benefit may be payable in the event of:          - the death, by accident or by some other cause stated in the cover, of the person whose life is covered; or          - injury or disability as a result of accident or sickness; or          - the person covered being found to have a stated condition or disease.
Marine Marine DV4721
The information reported is in relation to those insurance products classed as Marine products.Marine products typically include Marine Hull (including please craft) and Marine Cargo (including sea and inland transit insurance) policies.
MarineAndAviation Marine And Aviation DV4911
The information reported is in relation to those insurance products classed as Marine and Aviation products.Marine products typically include Marine Hull (including pleasure craft) and Marine Cargo (including sea and inland transit insurance) policies.Aviation products include aircraft hull and aircraft liability policies.
MembersCapitalRetainedProfit Members Capital Retained Profit DV5130
Members - capital plus retained profits allocated to members.
Mortgage Mortgage DV4723
The information reported is in relation to those insurance products classed as Mortgage products.Mortgage products provide insurance against losses arising from the failure of debtors to meet financial obligations to creditors or under which payment of debts is guaranteed. This includes lease guarantees.
NonParInvestmentPolicy Non-Par Investment Policy DV5136
As defined in sections 14 and 15 of the Life Insurance Act 1995
NonParInvestmentPolicyWithDiscretionaryAdditions Non Par Investment Policy With Discretionary Additions DV6080
Investment account business within the meaning of section 14 of the Act that pays non-participating benefits within the meaning of section 15 of the Act.
NonSplit Non Split DV5233
The information reported is in relation to those insurance products which are unable to be split into individual classes..Where an insurer writes business which spans multiple classes and the insurer cannot readily split the contract between classes, the contract must be allocated using an appropriate method, including the following methods:     (a) allocate the contract to the category which represents the greatest exposure; or     (b) allocate the contract to the category representing the greatest premium income.
Other Other DV5134
Include all other products not specifically categorised elsewhere
OtherAccident Other Accident DV4787
The information reported is in relation to those insurance products classed as Other Accident products.Other Accident products represent the following types of insurance:     - Miscellaneous accident (involving cash in transit, theft, loss of money);     - All risks (baggage, sporting equipment, guns);     - Engineering when not part of ISE or Fire policy;     - Plate glass when not part of packaged policy (e.g. houseowners/householders);     - Guarantee (Insurance Bonds);     - Live Stock;     - Pluvius; and     - Sickness and Accident which by the terms of the policy provides benefits for no more than three years.
OtherCategoryA Other Category A DV6094
The information reported is in relation to the insurance business that is category A, as per the relevant prudential standards, other than Householders, Commercial Motor and Domestic Motor.
OtherCategoryB Other Category B DV6088
The information reported is in relation to the insurance business that is category B, as per the relevant prudential standards, other than Fire and Industrial Special Risks (ISR), Marine and Aviation, Consumer Credit, Travel and Other Accident.
OtherCategoryC Other Category C DV6100
The information reported is in relation to the insurance business that is category C, as per the relevant prudential standards, other than Mortgage, Compulsory Third Party (CTP), Public and Product Liability, Professional Indemnity and Employers' Liability.
OtherGRF3101L Other GRF_310_1_L DV4448
The information reported cannot be allocated to any insurance product or business group within the existing list, as required to be reported on GRF_310_1_L.Other insurance products include:     - Trade Credit;     - Extended Warranty (where the insurer extends a manufacturer's or seller's normal warranty);     - Kidnap and Ransom; and     - Contingency.
OtherNonParInvestmentPolicy Other Non Par Investment Policy DV6076
Includes all other non-par investment products not specifically categorised. Do not use this Product Group unless APRA has been consulted beforehand.
ParticipatingInvestmentAccount Participating Investment Account DV5140
As defined in sections 14 and 15 of the Life Insurance Act 1995
PolicyOwnersRetainedProfits Policy Owners Retained Profits DV5127
Retained profits allocated to participating policy owners generally, but not yet vested as specific amounts to particular policies.
ProfessionalIndemnity Professional Indemnity DV4790
The information reported is in relation to those insurance products classed as Professional Indemnity products.Professional Indemnity covers professionals against liability incurred as a result of errors and omissions in performing professional services which has resulted in economic losses suffered by third parties.This includes Directors' and Officers' liability insurance plus legal expense insurance. Cover for legal expenses is generally included in this type of policy.
Property Property DV4909
The information reported is in relation to those insurance products classed as Property products.
PublicAndProductLiability Public And Product Liability DV4789
The information reported is in relation to those insurance products classed as Public and Product Liability products.Public Liability covers legal liability to the public in respect of bodily injury or property damage arising out of the operation of the insured's business. Product Liability includes policies that provide for compensation for loss and or injury caused by, or as a result of, the use of goods, and also environmental clean-up caused by pollution spills where not covered by Fire and Industrial Special Risks (ISR) policies.This also includes Builders Warranty insurance and public liability attaching to houseowners/householders policies.
ShareholdersCapitalRetainedProfits Shareholders Capital Retained Profits DV5133
Shareholders - capital plus retained profits allocated to shareholders.
StopLossCover Stop Loss Cover DV6951
It represents reinsurance which indemnifies the reinsured against the amount, subject to a specified limit, by which the reinsured's losses incurred during a specific period exceed either an agreed amount or an agreed percentage.
Travel Travel DV4719
The information reported is in relation to those insurance products classed as Travel products.Travel insurance typically covers against losses associated with travel including loss of baggage and personal effects, losses on flight cancellations and overseas medical costs.
UnallocatedBenefitFundReserve Unallocated Benefit Fund Reserve DV5142
Value of benefit funds which has not been allocated to either the benefit fund members or to the management fund.