You will require this approval if you operate as a registered private health insurer and intend to terminate one or all of your health benefits funds.
A health benefits fund is one established by a private health insurer, which relates solely to a health insurance business or a particular part of that business.
Please consult the Contact Officer for more information.
A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.
To be eligible for this approval you must satisfy the Agency that:
- You are not in the process of being wound up;
- Each of your health benefits funds comply with prudential standards relating to capital adequacy or solvency that apply in relation to the funds; and
- In relation to each of the funds, termination of the fund will not result in unfairness to the policy holders of the fund.
Please consult the Contact Officer for more information regarding eligibility requirements.
No fees are required.
Approval for the Termination of Health Benefits Funds - Please consult the Contact Officer for information on forms to be submitted.
Australian Prudential Regulation Authority
Private Health Insurance (Prudential Supervision) Act 2015 (Australian Government)
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