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Legislative Assembly for the ACT: 2003 Week 9 Hansard (28 August) . . Page.. 3415..


provided I am not prepared to allocate resources to quantify the aggregate assistance provided.

(11) This question should be adequately covered by information provided during the Second Appropriation Estimates held on 3 September 2003.

Insurance revenue

(Question No 834)

Mr Smyth asked the Treasurer, upon notice:

In relation to the insurance activities that have been initiated following the bushfire disaster

in January 2003:

(1) What quantum of insurance revenue was received during 2002-03;

(2) For what components of ACT Government activities, such as forests, plant and equipment and housing, were these payments received;

(3) Are there any components for which insurance claims are outstanding and for which payments are anticipated;

(4) What quantum of insurance revenue - if any - is anticipated during 2003﷓04;

(5) For what components of ACT Government activities will these payments be sought;

(6) What has been the consequence of these claims for premiums paid by the ACT Government for insurance cover for ACT Government assets.

Mr Quinlan

: The answer to the member's question is as follows:

(1) In 2002-03, the ACT's reinsurers paid the first instalment of $5m to the ACT Insurance Authority under the property insurance policy.

(2) This interim payment was not made with particular components of the property losses in mind but just the first instalment to reimburse the Authority for payments made. However, the Insurance Authority as the Government's captive insurer made payments to affected Government agencies in 2002-03 as part of its self-insured portion of the claims. The following payments to agencies on the property policy were reimbursement for costs already expended by agencies at the time of the payments:

Item

$(000)

Property destruction

2,867

Property damage

2,121

Plant and equipment

39

Fire fighting

1,385

Debris removal

887

Business interruption

637

Professional services

436

Other

250

TOTAL

8,622


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