Territory Stories

TIO Group Statement of Corporate Intent 1 July 2014 to 30 June 2017

Details:

Title

TIO Group Statement of Corporate Intent 1 July 2014 to 30 June 2017

Other title

Tabled paper 992

Collection

Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT

Date

2014-08-21

Description

Deemed

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

Publisher name

TIO Group

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C01121

Parent handle

https://hdl.handle.net/10070/274964

Citation address

https://hdl.handle.net/10070/424707

Page content

1 Introduction The Territory Insurance Office (TIO) is a statutory corporation established under the Territory Insurance Office Act in 1979. The TIO Board is responsible to the shareholding Minister for TIO's operations and financial performance, and is in agreement with the stated objectives listed in this Statement of Corporate Intent (SCI). The SCI sets out TIO's strategic objectives, scope of business, risk management strategies and financial performance targets over a three year period commencing 1 July 2014. The strategic direction outlined in this Statement of Corporate will be implemented by the Board and Management unless alternate strategies are agreed, or directions received from the shareholder. In accordance with the Territory Insurance Off ice Act the statutory objectives of TIO are: To act as an insurer in respect of the assets and prospective liabilities of the Territory and statutory corporations; To transact workers compensation insurance in respect of persons required by the Workers Rehabilitation and Compensation Act, or any Act replacing that Act; To administer a motor accident compensation scheme in accordance with an Act or an agreement between the Office and the person or body responsible for the scheme; To carry out such functions in relation to the management and control of moneys and other assets of the Territory and statutory corporations, and on such terms and conditions, as the Minister in writing directs; To provide such financial services as are approved by the Minister; To transact such general business of insurance as the Minister directs; To promote and participate in the promotion of road and industrial safety; and Such other functions as are, from time to time, imposed upon it by or under any other Act. The TIO business is twofold; statutory and commercial operations. The statutory arm of TIO is the Motor Accidents Compensation (MAC) business administering the motor accidents compensation scheme on behalf of the Northern Territory Government in accordance with the Motor Accidents (Compensation) Act, 1979. In administering the MAC scheme, TIO aims to achieve sustainable business performance whilst providing a social benefit to the community through the provision of benefits and by focusing on returning persons injured as a result of a motor accident to health and to work, to the extent possible. As part of TIO's social responsibility, the MAC scheme invests in areas targeted at the reduction of road injury and death; primarily through road safety campaigns and research. TIO Group Statement of Corporate Intent


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