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We only deal with insurers that are authorised by the Australian Prudential Regulation Authority
to conduct new or renewal insurance business in Australia and are on the Register of Authorised Insurers
under Section 122 of the Insurance Act 1973.
Insurers on the Register are authorised under Section 12 of the Insurance Act 1973 or by virtue of determination
made by APRA under Items 4 and 5 of Schedule 2 of the General Insurance Reform Act 2001.
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the Australian Financial
Services Industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance,
friendly societies, and most members of the superannuation industry. APRA is funded largly by the industry's
supervisors. It was established on 1 July, 1998. APRA currently supervises institutions holding approximately
$3.4 trillion in assets for 21 million Australian depositors, policy holders and superannuation fund members.
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