| Forum Home | ||||
| PC World Chat | ||||
| Thread ID: 138205 | 2014-10-21 22:42:00 | and still the books don't balance... | ruup (1827) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1386567 | 2014-10-21 22:42:00 | ACC posts $2.1 billion surplus Something is wrong here... :mad: |
ruup (1827) | ||
| 1386568 | 2014-10-21 23:23:00 | Government changed the way ACC was structured from having to cover ongoing costs year by year with the money collected in any in that year to a liability model where they had to be able to cover the fulture liabilities as well. So the money they have collected this year has to cover all the money that will be paid for the people injured this year in any of the future years rather than just paying for the costs this year. Makes it a more attractive sales prospect in that the assets it has at the time of sales already covers future liabilities (which is why it was done) A. |
afe66 (13778) | ||
| 1386569 | 2014-10-22 04:22:00 | Is there talk of selling ACC? Bad enough being ripped off by the government without some private git getting in on the act. |
Cicero (40) | ||
| 1386570 | 2014-10-22 04:39:00 | Is there talk of selling ACC? Bad enough being ripped off by the government without some private git getting in on the act. I seem to detect a remarkable change in your political thinking of late Cic, dare I say a move leftwards ? :clap |
Terry Porritt (14) | ||
| 1386571 | 2014-10-22 05:00:00 | I seem to detect a remarkable change in your political thinking of late Cic, dare I say a move leftwards ? :clap The banks getting away with murder has done for me. I think this chap is worth a listen. He is against bank monopoly as well as corporate protection. rt.com Can't help but think the individual should be paramount over incompetent government. |
Cicero (40) | ||
| 1386572 | 2014-10-22 12:56:00 | Government changed the way ACC was structured from having to cover ongoing costs year by year with the money collected in any in that year to a liability model where they had to be able to cover the fulture liabilities as well . So the money they have collected this year has to cover all the money that will be paid for the people injured this year in any of the future years rather than just paying for the costs this year . Makes it a more attractive sales prospect in that the assets it has at the time of sales already covers future liabilities (which is why it was done) A . Yeah . . . Nah . :D ACC is in the insurance business despite what people say - Accident Compensation and Insurance Act 1972 - and insurance companies operate on a float . That is a sum of money which is put aside and represents the long-term risk of claims into the distant future . 35-40 years . |
Winston001 (3612) | ||
| 1386573 | 2014-10-22 18:34:00 | ACC is in the insurance business despite what people say - Accident Compensation and Insurance Act 1972 . And like an insurance company, try not to pay out. The recent shift to blaming everything on pre-existing conditions is a great way to decline the claim. www.stuff.co.nz www.3news.co.nz www.stuff.co.nz |
pctek (84) | ||
| 1386574 | 2014-10-22 22:37:00 | And like an insurance company, try not to pay out. The recent shift to blaming everything on pre-existing conditions is a great way to decline the claim. www.stuff.co.nz www.3news.co.nz www.stuff.co.nz Well noted. |
Cicero (40) | ||
| 1 | |||||