General insurers must apportion all premiums paid on insurance contracts that relate to the following:
- property that at the time of insurance is located in Queensland and in another Australian jurisdiction
- a risk concerning an act or omission that within the normal course of events may occur within, or partially within, Queensland and in another Australian jurisdiction.
Where applicable, these premiums should be apportioned as set out in the Schedule of Apportionment below. This new schedule was developed in consultation with the Insurance Council of Australia and the commissioners of the other Australian jurisdictions. It has been introduced by an administrative arrangement and takes effect from 1 July 2008.
We may, on written application by the insurer or insured person, apportion a premium on another basis.
