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Statement of Corporate Intent MAC Business 1 July 2006 to 30 June 2009



Statement of Corporate Intent MAC Business 1 July 2006 to 30 June 2009

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Tabled paper 822


Tabled papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT






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3.9 MAC Risks A complete commentary and background on the TIO Group's risk management approach is provided above. Further, it should be noted that the TIO Group risks are provided above on the basis that, as TIO (the legal entity) is a key provider of services and shared services to the MAC Business, it is important the totality of the TIO Group operation is presented in managing the risks of the MAC Business. The table below identifies the key treatment (mitigation) initiatives that have been proposed and specifically relevant to the MAC Business in response to applicable corporate risks along with the key current controls. The table is not the complete list of corporate risks as many of these are effectively mitigated in 'business as usual' processes and do not rate a specific mention in the SCI. MAC Risk I Control 1 Mitigation Poor underwriting/ pricing strategies and practices Underwriting manuals and guidelines, pricing committees, annual premium reviews, specialist underwriters and delegation levels Preparation of pricing data for the independent pricing regime for MAC Poor claims management strategies and practices Claims manuals and guidelines, file review processes, complex claims committees, industry benchmarking and peer reviews. Focus on claims management practices in other jurisdictions, introduction of best practice treatment guidelines.

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