❓ Hon Neil Thomson questions the Treasurer regarding the RiskCover Fund's performance, premium levies, and solvency ratio following a loss in 2023-24. The Treasurer defers answering until the Insurance Commission's annual report is released.
AnsweredQoN 2085Legislative Council
QuestionView source ↗
I refer to the 2024-25 Budget Paper No 2 Volume 1, page 179, Note 5, and the RiskCover Fund forecasts for 2024-25, and I ask: (a) what was the loss to RiskCover Fund in 2023-24 in $ million; (b) please list the current amounts levied, by department, for premiums for 2024-25; (c) are increases in premiums levied in 2024-25 expected to remain fixed per annum, or are they a one-off increase to cover costs-related claims for 2023-24; and (d) with the increase in premiums in 2024-25, and the estimated/anticipated claims, what is the solvency ratio likely to rebound to by the end of year 2024-25?
AnswerView source ↗
Answered
17 September 2024
Responded by
Minister for Emergency Services representing the Treasurer
Response time
9 days
(a)-(d) Details about the performance of the RiskCover Fund in 2023-24 will be outlined in the Insurance Commission’s 2023-24 Annual Report.
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