Regulators are seeking feedback on proposed changes to prudential and reporting standards for general and life insurers.

The Australian Prudential Regulation Authority says the updates are “minor in nature and do not involve any material change to requirements. This process is intended to ensure the framework is kept up to date in the periods between comprehensive reviews of standards.”

Some planned changes relate to CPS 001. The authority wants to clarify that “APRA-authorised reinsurer” applies only to regulated entities, and to replace the term “management expenses” with “other business expenses” to align with other APRA, Department of Health and aged care publications and forms.

APRA also wants feedback on plans to retire CPG 233 Pandemic Planning, a guide helping regulated entities consider and manage risks from contagious disease outbreaks.