Senator the Hon Mathias Cormann

The Government has appointed Mr Ian Carson and Ms Karen Payne to the Australian Reinsurance Pool Corporation (ARPC).

Mr Carson has been appointed as the part-time Chair for a three-year period from 1 July 2017 up to and including 30 June 2020.

Mr Carson is currently a Partner and the Chairman of PPB Advisory, a professional advisory firm of which he is also a founding partner. He is a registered liquidator and a fellow of the Australian Institute of Company Directors.

Ms Payne has been appointed as a part-time member for a three-year period from 5 October 2017 up to and including 4 October 2020.

Ms Payne is currently the part-time Chief Executive Officer and a part-time member of the Board of Taxation and was previously a Partner at Minter Ellison focusing on international and corporate taxes for the financial services industry among other sectors.

The Government would like to thank current ARPC Chair Ms Joan Fitzpatrick, whose term is due to expire on 30 June 2017 and Mr Tom Karp whose term as a member will expire on 4 October 2017. The Government greatly appreciates the dedication of both Ms Fitzpatrick and Mr Karp in their roles. 

The ARPC administers a scheme to provide terrorism insurance coverage for commercial (and from 1 July 2017, mixed-use and high value residential) property and associated business interruption. The scheme was initiated to protect Australia’s economy from the global withdrawal of terrorism insurance for commercial property in the wake of the 2001 terrorist attacks in the United States.