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

Although the administration of the MAC scheme currently sits within the Board and Management structure of the TIO, separate governance arrangements exist, including a statutory fund to manage the MAC scheme assets. The commercial business encompasses Insurance and Banking. The Insurance business offers: Domestic insurance - home building and contents, motor and boat Commercial insurance - Fire/Industrial Special Risk (ISR), motor, liability, and workers' compensation The Banking business provides focused solutions for Territorians in the home lending and savings markets. The Insurance and Banking businesses offer competitive products and services operating on a commercial basis, delivering value to the NT Government and the NT community at large. While the NT Government guarantees every policy, contract of insurance or indemnity and deposits placed with TIO, TIO operates on a commercial basis and to the same Australian Prudential Regulation Authority (APRA) prudential standards as all other insurance and banking businesses in Australia - albeit monitored and regulated via the Department of Treasury and Finance. The TIO Board and Management are committed to achieving the Government's mandated capital requirements, industry prudential standards and key benchmarks. TIO Group Statement of Corporate Intent 2