TIO MAC Report Statement of Corporate Intent 1 July 2008-30 June 2009
Tabled paper 541
Tabled papers for 11th Assembly 2008 - 2012; Tabled papers; ParliamentNT
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4 MOTOR ACCIDENTS COMPENSATION OVERVIEW In our 2008/09 strategic statement we said: The core business of the Motor Accidents Compensation (MAC) business unit is the provision of compensation to persons injured as a result of a motor accident. What we achieved: MAC was hard hit by the weakness of the investment market, suffering a $41.1 million loss. This was considerably lower than forecast earlier in the year as a result of a lift in the investment market in the last quarter. Notwithstanding, the underlying performance of the scheme remains sound, the scheme remaining well funded with a solvency margin of 37.3% as at the 30 June 2009, relative to a long term targeted solvency target above 30%. During the period there continues to be strong demand on the scheme by injured motor vehicle accident victims. During 2008/09, MAC accepted 486 claims for compensation, one of the highest number of claims received in recent time, an 11% increase from the prior 5 year average, with a surge in the second half of 2008 in line with the Territory's increased road toll. The increased road toll reinforces the importance of a continued focus on the promotion of road safety to reduce the incidence and severity of motor accident trauma in the Northern Territory. In 2008/09 a dedicated resource was employed with the view to focus on developing and implementing a number of high profile promotion and awareness programs, working in close liaison with other members of the road safety community including Police and the Department of Planning and Infrastructure. Campaigns launched in 2008/09 include the "Why." multi media campaign targeting emotive multi media campaigns focusing on tragic consequences and impacts on individuals, families, and community of road deaths and severe trauma. A core focus of MAC is to help people injured in motor vehicle accident, return to health and work as quickly and effectively as possible. During the year (PEARL, formally known as CAP) a web based imaging and processing system was introduced, PEARL has lead to a decrease in administrative costs and time, creating capacity for resources to be refocused towards building case management capability improving the quality and timelines of decisions, and client management. This project was complemented by an extensive visitation program to remote and indigenous communities and medical centres to promote the MAC scheme and visit some of our catastrophically injured clients to assess their care needs. 11
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