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Warren Forster: ACC lawyer and researcher on ACC's accounting change
Don’t expect lower levies as a result of ACC’s “accounting change”.
The Government has approved a change that reduces the amount of money the insurer would need to pay out in claims by $7 billion.
It would see the risk margin reduced from 12.7% to zero, shaving down the outstanding claims liability, which is used to calculate how much it may have to pay out in the years to come.
ACC lawyer and researcher Warren Forster told Mike Hosking in effect, there will be no real change to how it operates in peoples’ lives.
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Published on 4 months, 3 weeks ago