Territory Stories

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



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

Other title

Tabled paper 992


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






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.




Tabled papers

Publisher name

TIO Group

File type




Copyright owner

See publication



Parent handle


Citation address


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

Aboriginal and Torres Strait Islander people are advised that this website may contain the names, voices and images of people who have died, as well as other culturally sensitive content. Please be aware that some collection items may use outdated phrases or words which reflect the attitude of the creator at the time, and are now considered offensive.

We use temporary cookies on this site to provide functionality.
By continuing to use this site without changing your settings, you consent to our use of cookies.