Application requirements—Act, s 362 (2)
25 Application requirements—Act, s 362 (2)
An application for an MAI insurer licence must—
include the following information:
the applicant’s trading name;
the address of the applicant’s registered office;
the applicant’s ABN;
details of reinsurance arrangements proposed to be made for reinsurance for MAI policies to be issued by the applicant; and
be accompanied by the following:
a copy of the applicant’s authority to carry on an insurance business under the Insurance Act 1973 (Cwlth);
if the applicant is licensed to carry on business as a CTP insurer in another Australian jurisdiction—a copy of the licence from the other jurisdiction;
if the applicant is not licensed to carry on business as a CTP insurer in another Australian jurisdiction—
a copy of all documents given to APRA in applying for authority to carry on an insurance business under the Insurance Act 1973 (Cwlth); and
a copy of the applicant’s latest annual financial accounts and annual statement lodged with ASIC; and
a copy of all reports and returns lodged with APRA under reporting and prudential standards applying to the applicant’s general insurance business in relation to the 12 months before the date of the application.
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