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House of Assembly - Fifty-First Parliament, Third Session (51-3)
2009-09-08 Daily Xml
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WORKCOVER CORPORATION

In reply to Dr McFETRIDGE (Morphett) (8 April 2009).

The Hon. P. CAICA (Colton—Minister for Agriculture, Food and Fisheries, Minister for Industrial Relations, Minister for Forests, Minister for Regional Development): I have been advised:

1. The Public Sector has no unfunded liability. Workers compensation costs are budget funded within an agency's appropriation and are accounted for in the forward estimates each year. The public sector's outstanding liability cannot be compared to, or added onto, WorkCover's unfunded liability.

With regard to the outstanding liability, each year independent actuaries estimate the provision for workers compensation outstanding liability as at 30 June for all Crown Self Insured agencies.

The provision for the gross (before 3rd party recoveries) outstanding liability as at 30 June 2008 was assessed at $366.6 million. The gross outstanding liability is an estimate of the amount required to manage and close all existing claims if no more workers compensation claims occur after 30 June 2008.

Since June 2003, the rate of increase in gross outstanding liability has diminished from 20.4 per cent to 2.3 per cent (June 2008). This positive outcome reflects significant improvements in the claims performance of the Crown Self Insured agencies.

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