Territory Stories

Annual Report 2015 Motor Accidents (Compensation) Commission (MACC)

Details:

Title

Annual Report 2015 Motor Accidents (Compensation) Commission (MACC)

Other title

Tabled paper 1556

Collection

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

Date

2015-11-19

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

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C01622

Parent handle

https://hdl.handle.net/10070/273151

Citation address

https://hdl.handle.net/10070/799706

Page content

Northern Territory Motor Accidents (Compensation) Commission Notes to the Financial Statements - 30 June 2015Annual Report 2015 Page 73 Motor Accidents (Compensation) Commission Notes to the Financial Statements 30 June 2015 Motor Accidents (Compensation) Commission Annual Report 2014/2015 59 23. Deposits 2015 2014 MACC TIO Insurance & Banking MAC Fund TIO TIO Insurance & Banking MAC Fund $000 $000 $000 $000 $000 $000 Deposits - current liabilities - - - 556,274 556,274 - Deposits - non-current liabilities - - - - - - Total Deposits - - - 556,274 556,274 - Deposits maturity analysis At call - - - 99,932 99,932 - No longer than three months - - - 290,183 290,183 - Longer than three months and not longer than 12 months - - - 145,718 145,718 - Longer than one year and not longer than five years - - - 20,441 20,441 - - - - 556,274 556,274 - Concentration of deposits Northern Territory residents - - - 191,432 191,432 - Non-Northern Territory residents - - - 364,842 364,842 - - - - 556,274 556,274 - 24. Provisions 2015 2014 MACC TIO Insurance & Banking MAC Fund TIO TIO Insurance & Banking MAC Fund $000 $000 $000 $000 $000 $000 (a) Current provisions Employee benefits - - - 4,399 4,399 - - - - 4,399 4,399 - (b) Non-current provisions Employee benefits - - - 1,208 1,208 - Total provisions - - - 5,607 5,607 - Motor Accidents (Compensation) Commission Notes to the Financial Statements 30 June 2015 Motor Accidents (Compensation) Commission Annual Report 2014/2015 58 21. Net claims incurred continued Inwards Reinsurance Business Discontinued Operations (see Note 36) 2015 2014 Current Year Prior Year Total Current Year Prior Year Total $000 $000 $000 $000 $000 $000 Gross claims incurred undiscounted - 12 12 - (7) (7) Discount movement - 1 1 - - - Gross claims incurred discounted - 13 13 - (7) (7) Reinsurance and other recoveries - undiscounted - - - - - - Discount movement - - - - - - Reinsurance and other recoveries - discounted - - - - - - Net claims incurred - 13 13 - (7) (7) Total net claims incurred for direct and inwards reinsurance business 77,344 40,051 117,393 94,635 62,539 157,175 Total gross claims incurred for direct and inwards reinsurance business 93,336 66,988 160,323 105,135 65,085 170,221 Total reinsurance and other recoveries (15,992) (26,937) (42,930) (10,500) (2,546) (13,046) Total net claims incurred for direct and inwards reinsurance business 77,344 40,051 117,393 94,635 62,539 157,175 22. Trade and other payables 2015 2014 MACC TIO Insurance & Banking MAC Fund TIO TIO Insurance & Banking MAC Fund $000 $000 $000 $000 $000 $000 Trade payables 3,629 - 3,629 21,362 18,875 2,487 Reinsurance payables 1,523 - 1,523 7,767 6,731 1,036 Related party payable 385 - 385 - - 1,128 Other 56 - 56 912 792 120 5,593 - 5,593 30,041 26,398 4,771


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