Page 4223 - Week 13 - Thursday, 25 November 1993
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Premium rate has increased by 41% for 1993/94 due to increase in average claim cost from $14,203 (as at 4/92) to $17,417 (as at 4/93), and an increase on frequency of claims from 1.38 claims per million dollars salaries and wages. The premium also increased due to a 22% increase in estimated wages and salary."
(2) In relation to Housing Trust:
"Number of claims received 1991 /92 experience year = 18 at an average of $18,287.
Number of Claims received 1992/93 experience year = 9 at an average of $9,689."
In relation to Community Services:
"Number of claims received 1991 /92 experience year = 49, at an average of $26,651.
Number of Claims received 1992-93 experience year = 48 at an average of $17,417."
(3) In relation to the Housing Trust:
"The increase in Frequency of Claims has had an effect on the premium rate increase and also the performance of the allocated group of ACT Government customers."
In relation to Community Services:
"The frequency and average cost of claims received has a substantial impact on the movement of the premium rate. In the case of Community Services both these indicators deteriorated and a premium increase resulted."
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