The finalised ACC levy rates as agreed by Government in October 2011.
ACC
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The finalised ACC levy rates as agreed by Government in December 2010.
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Our assessment is that the proposals look well designed and workable. The Accredited Employers will want to assess the costs before confirming they will renew their membership of the ACCPP for the 2011/12 year.
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Overall we are seeing better financial results from ACC, and there is good news on the residual claims levy for Accredited Employers.
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The finalised ACC levy rates as agreed by Government in December 2009.
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Mark Weaver wrote the paper for the Australian Actuaries conference on accident compensation schemes. The paper provides a comprehensive review of the ACC Partnership Programme.
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The standard levy for the Work Account is up 57% and the Residual Claims Account up 27%. However with the planned change in the funding date for the pre 1999 claims from 2014 to 2019 the Residual Claims Account levy will decrease by 50% which is good news for the ACCPP employers.
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The ACC self insurance option offers larger employers the opportunity to benefit directly from their investment in good health and safety practices.
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The Government has expressed serious concerns in the run up to announcing the ACC rates for 2009/10 and it is reasonable to expect we will see major initiatives around ACC in 2009.
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While the Work Account and Residual Claims Account levies in total remain unchanged for 2009/10 our analysis shows that ACC has significant claim cost pressures which will need addressing if the levies for the Work, Earners and Motor Vehicle Accounts are not to increase substantially over the next few years.
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The average standard levy rate is down to 72 cents making it necessary for some accredited employers to review whether they should shift out of the FSCP and into the PDP option.
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This newsletter is based on the Consultative Documents issued by ACC as part of its consultation process for the 2008/09 levy rates.
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There is increasing interest in the possibility that a National Government will re privatise some of the ACC accounts. This paper looks at the experience in 1999/2000 when the Employer Account was privatised.
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Interest in possible changes to the NZ ACC system is growing. Are there any lessons to be learned from the Australian systems?
