The Transport Accident Commission’s Annual Report was tabled in State Parliament today, showing the agency has emerged stronger and more resilient following two pandemic-affected years.
The report outlined an overall operating surplus of $1.5 billion, including a strong performance from insurance operations of $942 million.
The insurance operations result was driven by effective claims management and a focus of administrative efficiencies, placing the TAC in a strong position to keep supporting its most injured clients for many years to come.
In the 2021-2022 financial year, more than 43,000 Victorians received $1.54 billion in support and benefits after an accident. These clients have reported a satisfaction level of 6.87 out of 10 with the TAC’s service, while a client outcome rating of 6.91 out of 10 was recorded.
TAC chair Greg Wilson said that while the challenges of the pandemic still linger, the report highlighted how the organisation had continued to deliver for its clients while ensuring a sustainable scheme for the future.
“Faced with the global pandemic, we were well-placed to tackle the rapid changes, and to embrace the unique opportunities to improve the way we work and the services we provide,” Mr Wilson said.
“We’re incredibly proud of the services and supports we offer injured Victorians to help get their lives back on track.”
The 2021-2022 financial year also saw the TAC launch its TAC 2025 Corporate Strategy, which was shaped by feedback from clients, health care providers, road safety partners and other stakeholders, and includes a greater emphasis on Value Based Health Care.
“The new strategy will help our organisation evolve to be more effective and efficient in responding to our clients’ needs and the expectations of the Victorian community,” Mr Wilson said.
“The initiatives will give our clients greater say in their own recovery decision making, while ensuring the scheme can sustainably withstand economic challenges to come,” he said.
Sadly, 232 people died on Victorian roads in 2021 – up from the 211 lives lost in 2020.
“These preventable losses serve as a strong reminder that there’s still much to be done to protect people on our roads – and to educate the community about road safety.”
“In embracing the ambitious targets of the Victorian Road Safety Strategy 2021-2030 and by working closely with our road safety partners, we’re determined to reduce road trauma.”
The TAC has continued to invest in road safety education, research and infrastructure, with $176 million going towards road safety initiatives, including $80 million in life saving road safety infrastructure, including 145 kilometres of flexible barriers.
Other highlights from the TAC’s 2021/22 Annual Report include:
- 3018 clients returned to work, including 839 of our most seriously injured clients
- 1286 common law resolutions under world-leading protocols
- Invested $80 million in road safety infrastructure
- Engaged more than 1000 Victorian football-netball clubs in TAC/AFL Victoria Road Safety Round
- Launched hard-hitting road safety campaigns Only Protected for a Moment and Be the Reason
- TAC launched its first Reconciliation Action Plan and Gender Equality Action Plan.
You can read the full TAC Annual Report by following the link below.