New PHIAC governance standards to commence 1 January 2010

The Private Health Insurance (Insurer Obligations) Rules 2009 repeal the Private Health Insurance (Insurer Obligations) Rules 2007 and establish prudential standards for private health insurers that set minimum requirements for the governance arrangements of private health insurers, specify appointed actuary requirements of private health insurers and detail reporting and notification requirements for private health insurers.

The new Rules commence on 1 January 2010.

The Governance Standards are set out in Schedule 1.

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