I am pleased to announce today the appointment to the Board of the Australian Reinsurance Pool Corporation (ARPC) of two part-time members for three year terms and the reappointment of one part-time member for a further year:
- Mr Michael Callaghan AM, for a period of three years;
- Ms Robin Low, for a period of three years; and
- Mr Tom Karp, for a period of one year.
The ARPC is a statutory authority established by the Terrorism Insurance Act 2003 to administer Australia’s terrorism insurance scheme. The Act deems terrorism risk cover into eligible insurance contracts by rendering terrorism exclusion clauses void. Insurance companies may then reinsure their additional risk with the ARPC.
Mr Callaghan AM is a Nonresident Fellow at the Lowy Institute for International Policy. In 2015 he was the head of the Northern Australia Insurance Premiums Taskforce. Between 2012 and 2014 Mr Callaghan was Program Director of the G20 Studies Centre at the Lowy Institute. Mr Callaghan was Executive Director, International, in the Department of the Treasury from 2008 until 2012. Mr Callaghan also served as the Prime Minister’s Special Envoy, International Economy.
Ms Low is the Deputy Chair and member of the Auditing and Assurance Standards Board and on the board of a number of not-for-profit organisations, including the Sydney Medical School Foundation and the Public Education Foundation. Robin is a chartered accountant, with over 25 years’ experience with PricewaterhouseCoopers, including more than 17 years as an assurance partner.
Mr Karp has been a member of the ARPC since 2008. He is an actuary and previously worked at the Australian Prudential Regulation Authority and the Insurance and Superannuation Commission. He is also a current member of the Professional Standards Council.
I would also like to acknowledge Ms Marian Micalizzi, an outgoing member of the ARPC Board whose role expired on 30 June 2016. I would like to thank Ms Micalizzi for her valuable contribution to the ARPC over the past 13 years.