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Prudential map for general insurance

The prudential framework currently in force for the general insurance industry is summarised below in risk-based categories. This page is intended to clarify how the standards and guidance fit together.

The standards and practice guides are available here.

Last updated 27 June 2023

 

Governance

Topic

Title

Standard

Guidance

Board

Governance

CPS 510

-

Accountability

Fit and Proper

CPS 520

GPG 520

Actuarial

Actuarial

CPS 320

CPG 320

Audit

Audit

3PS 310

-

 

Audit

GPS 310

-

Remuneration

Remuneration

CPS 511

CPG 511

Risk management

Topic

Title

Standard

Guidance

Risk Management

Risk Management

CPS 220

CPG 220

Credit Risk

Credit Risk

-

GPG 220

 

Aggregate Exposures

3PS 221

3PG 221

 

Intra-group Transactions

3PS 222

3PG 222

Insurance Risk

Insurance Risk

-

GPG 240

 

Reinsurance Management 

GPS 230

GPG 245

Market Risk

Margining

CPS 226

-

 

Balance Sheet

-

GPG 250

Operational Risk

Operational Risk

-

GPG 230

 

Outsourcing

CPS 231

CPG 231

 

Custody Arrangements

-

GPG 232

 

Business Continuity

CPS 232

-

 

Pandemic Planning

-

CPG 233

 

Information Security

CPS 234

CPG 234

 

Managing Data Risk

-

CPG 235

 

Climate Change

-

CPG 229

Financial resilience

Topic

Title

Standard

Guidance

Capital

Capital Adequacy 

GPS 110

-

 

Capital Management (ICAAP)

-

CPG 110

 

Measurement of Capital 

GPS 112

-

 

Internal Model-based Method

(to be revoked on 1 July 2023)

GPS 113

GPG 113

 

Asset Risk Charge

GPS 114

-

 

Insurance Risk Charge 

GPS 115

-

 

Insurance Concentration Risk Charge 

GPS 116

GPG 116

 

Asset Concentration Risk Charge 

GPS 117

-

 

Operational Risk Charge 

GPS 118

-

 

Assets in Australia

GPS 120

-

Liquidity

Insurance Liability Valuation 

GPS 340

-

Recovery and resolution

Topic

Title

Standard

Guidance

Resolution

Resolution Planning (2024)

CPS 900

CPG 900

Recovery

Recovery and Exit Planning

(2024)

CPS 190

CPG 190

 

Transfers

GPS 410

-