15 Oct 2013
The Transport Accident Commission (TAC) has recorded its highest ever client feedback score of 7.63.
The TAC's Annual Report was tabled in State Parliament today, showing that for the second time in its 26-year history, support and benefits to clients reached more than a billion dollars, to $1.086 billion.
TAC Chief Executive Officer Janet Dore said the result highlighted the need to keep the TAC viable and support injured Victorians into the future.
"The highest ever client feedback score of 7.63 shows that the work being done to improve client experience and outcomes is facilitating strong results," Ms Dore said.
"Additionally, we recorded an after-tax operating profit of $973 million in 2012/13, driven by better than expected external markets.
"Our performance from insurance operations this year was a negative $12 million dollars. This reflects the challenging environment insurers operate in, with respect to common law claims.
"The TAC resolved 1,120 common law claims in 2012/13 (compared to 945 in 2011/12). This is the first time that common law claims have exceeded 1,000 in a financial year, with payments reaching $382.5 million.
"We take the responsibility of maintaining a strong financial position very seriously. After all, a financially sound TAC is the basis on which the Victorian community can rely on receiving vital support and assistance if they are in a transport accident," Ms Dore said.
Key results for the TAC in 2012/13 included:
- $1.086 billion in support services and benefits for 45,038 clients
- Client satisfaction score of 7.63/10
- Performance from Insurance Operations of negative $12 million
- Actuarial release of negative $102 million
- Investment return of 15.5%.
Ms Dore said that 2012/13 had seen further progress of the organisation's long-term strategy, TAC 2015.
"We are focused on improving client outcomes, enhancing client experience and ensuring the ongoing financial viability of the TAC" said Ms Dore.
For more information contact the TAC's Emily Bogue on 0429 416 778.
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