House of Assembly - Fifty-First Parliament, Third Session (51-3)
2009-03-04 Daily Xml

Contents

WORKCOVER CORPORATION

Dr McFETRIDGE (Morphett) (14:42): I have a supplementary question. Will the minister tell the house how much will accepting provisional liability for claims add to the total liabilities?

The Hon. P. CAICA (Colton—Minister for Agriculture, Food and Fisheries, Minister for Industrial Relations, Minister for Forests, Minister for Regional Development) (14:42): The unfunded liability of the scheme is underpinned by two components. One, of course, is the investments component, and I have reported on that. The other is the claims liability component. Again, whilst very significant legislation was adopted by this parliament last year, we have an expectation that the component of the unfunded liability that relates to the claims management—again, it is early days—is at this stage tracking in the right direction, and that is without the full implementation of that legislative change, as the member for Morphett is aware.