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❓ Question regarding the impact of the WA Museum collection revaluation on its insurance premiums. The answer reveals a significant reduction in insurance costs following the revaluation.

AnsweredQoN 4320Legislative Assembly

Asked

11 August 2015

Member

Mr M. McGowan

Portfolio

Culture and the Arts

QuestionView source ↗

I refer to answers provided to the Estimates and Financial Operations Committee 13/14 Annual Report Hearing for the WA Museum, which states regarding the revaluation of the Museum’s collection, “The Western Australian Museum is in the process of discussing the impact of the revaluation on its insurance premiums with its insurer.”, and I ask: (a) have WA Museum's insurance premiums been finalised; (b) if yes to (a) when were they finalised; (c) if no to (a) why not; and (d) if yes to (a): (i) as a result of the revaluation, has the cost of insurance on the collection reduced; and (ii) if yes to (i), what is the saving on insurance to WA Museum?

AnswerView source ↗

Answered

15 September 2015

Responded by

Minister for Culture and the Arts

Response time

35 days

(a) Yes.
(b) Insurance premiums for the 2015-2016 financial year were finalised in July 2015.
(c) Not applicable
(d) (i)-(ii) Yes. A reduction of $120 531.50 was applied in the 2015-2016 financial year.

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