##### 12H  Meaning of critical insurance asset - \(1\) An asset is a critical insurance asset if it is any of the following assets: - \(a\) an asset where the following conditions are satisfied: - \(i\) the asset is owned or operated by an entity that carries on insurance business; - \(ii\) the entity is an entity that, in accordance with subsection \(2\), is critical to the security and reliability of the financial services and markets sector; - \(iii\) the asset is used in connection with the carrying on of insurance business; - \(b\) an asset where the following conditions are satisfied: - \(i\) the asset is owned or operated by a body corporate that is a related body corporate of an entity that carries on insurance business; - \(ii\) the body corporate is a body corporate that, in accordance with subsection \(3\), is critical to the security and reliability of the financial services and markets sector; - \(iii\) the asset is used in connection with the carrying on of insurance business; - \(c\) an asset where the following conditions are satisfied: - \(i\) the asset is owned or operated by an entity that carries on life insurance business; - \(ii\) the entity is an entity that, in accordance with subsection \(4\), is critical to the security and reliability of the financial services and markets sector; - \(iii\) the asset is used in connection with the carrying on of life insurance business; - \(d\) an asset where the following conditions are satisfied: - \(i\) the asset is owned or operated by a body corporate that is a related body corporate of an entity that carries on life insurance business; - \(ii\) the body corporate is a body corporate that, in accordance with subsection \(5\), is critical to the security and reliability of the financial services and markets sector; - \(iii\) the asset is used in connection with the carrying on of life insurance business; - \(e\) an asset where the following conditions are satisfied: - \(i\) the asset is owned or operated by an entity that carries on health insurance business; - \(ii\) the entity is an entity that, in accordance with subsection \(6\), is critical to the security and reliability of the financial services and markets sector; - \(iii\) the asset is used in connection with the carrying on of health insurance business; - \(f\) an asset where the following conditions are satisfied: - \(i\) the asset is owned or operated by a body corporate that is a related body corporate of an entity that carries on health insurance business; - \(ii\) the body corporate is a body corporate that, in accordance with subsection \(7\), is critical to the security and reliability of the financial services and markets sector; - \(iii\) the asset is used in connection with the carrying on of health insurance business\. Note: The rules may prescribe that a specified critical insurance asset is not a critical infrastructure asset \(see section 9\)\. - \(2\) For the purposes of subparagraph \(1\)\(a\)\(ii\), the rules may prescribe: - \(a\) specified entities that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for an entity to be critical to the security and reliability of the financial services and markets sector\. - \(3\) For the purposes of subparagraph \(1\)\(b\)\(ii\), the rules may prescribe: - \(a\) specified bodies corporate that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for a body corporate to be critical to the security and reliability of the financial services and markets sector\. - \(4\) For the purposes of subparagraph \(1\)\(c\)\(ii\), the rules may prescribe: - \(a\) specified entities that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for an entity to be critical to the security and reliability of the financial services and markets sector\. - \(5\) For the purposes of subparagraph \(1\)\(d\)\(ii\), the rules may prescribe: - \(a\) specified bodies corporate that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for a body corporate to be critical to the security and reliability of the financial services and markets sector\. - \(6\) For the purposes of subparagraph \(1\)\(e\)\(ii\), the rules may prescribe: - \(a\) specified entities that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for an entity to be critical to the security and reliability of the financial services and markets sector\. - \(7\) For the purposes of subparagraph \(1\)\(f\)\(ii\), the rules may prescribe: - \(a\) specified bodies corporate that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for a body corporate to be critical to the security and reliability of the financial services and markets sector\. --- ## Source and attribution Saved copy: C2018A00029 / C2026C00213 / f578e546a17068939a3a5a928474713f844dfae8 Scope: navPoint\_31 Compiled 2026\-06\-04\. 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