VP523664—Reinsurance Brokerage Services

The Queensland Building and Construction Commission (QBCC) wishes to appoint an appropriately experienced supplier for the provision of reinsurance brokerage services to assist in achieving the objectives of its Reinsurance Management Strategy and its obligations in respect of the Queensland Home Warranty Scheme (QHWS):

• providing home warranty cover that aligns with the reasonable expectations of Queenslanders
• managing the QHWS in accordance with actuarially sustainable principles
• setting premiums that are fair and reasonable
• demonstrating sound business risk management to reassure reinsurers of continued prudent management of the QHWS
• having sustainable capital base
• continuing to meet APRA capital requirements
• continuing to run a sustainable, viable, efficient and well managed first resort home warranty scheme
• limiting exposure for rare catastrophic events
• reducing volatility caused by large claims
• reducing volatility caused by significant claims experience
• providing advice to assist the QBC Board and senior management in carrying out their responsibilities.