Report on the costs of the Australian Government's Run-Off Cover Scheme for medical indemnity insurers

Report on the costs of the Australian Government’s Run-Off Cover Scheme for medical indemnity insurers

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Complete document		172KB
1. Introduction
2. Background
	2.1 Medical Indemnity Insurance
	2.2 Brief history of private medical indemnity insurance in Australia - the lead-up to the ROC Scheme
	2.3 What is the ROC Scheme?
3. Data
	3.1 Data Collection
	3.2 Data verification
	3.3 Eligible practitioners
	3.4 Claims eligible for ROC indemnity payments
	3.5 ROC indemnity payments
	3.6 ROC support payments
4. Financial management of the Run-Off Cover Scheme
	4.1 Future liabilities of the Run-Off Cover Scheme
	4.2 Notional Account
	4.3 Actuarial management
Appendices
Appendix 1: ROC Support Payments
Appendix 2: Eligible Practitioners and Run-Off Cover Scheme Contracts
Appendix 3: Run-Off Cover Scheme Claims
Appendix 4: Methodology, Assumptions and Uncertainty
Appendix 5: High Cost Claims