Accident Compensation Corporation - Statement of Corporate Intent ...

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ACC subsidiaries The following two companies are wholly-owned subsidiaries of ACC. Dispute Resolution Services Limited Dispute Resolution Services Limited (DRS) is a wholly-owned subsidiary, established in 1999 to manage an independent dispute resolution service. The company has its own Board of Directors and a separate management structure. DRS’s founding purpose is to engage reviewers to adjudicate ACC decisions disputed by clients, levy payers or health professionals. Reviewers are required by law to act independently in conducting reviews of ACC’s cover and entitlement decisions. Decisions reached by reviewers may be appealed by parties to the review process. Review appeals are administered by the District Court. DRS also provides alternative dispute resolution (ADR) services such as mediation and facilitation to ACC, other Crown entities and large companies. Demand for ADR services is growing and in time services to the wider health and social services sector will assist ‘whole-ofgovernment’ aims. Catalyst Risk Management Limited Catalyst Risk Management Limited (Catalyst) was established in 1999 as a wholly-owned subsidiary with a founding purpose of being a New Zealand-wide third party provider of injury management services allied to the core business provided by ACC. Catalyst gave (and continues to give) ACC a commercial presence in a competitive environment. It provides product flexibility and development opportunities, and ensures access to market intelligence. On 1 July 2004, Catalyst acquired the injury management assets of CRM Group Limited. The legal name was changed to Catalyst Risk Management Limited. The merged entity continues to be a wholly-owned subsidiary of ACC. The mission of the restructured company is to provide injury management services of the highest standard to existing and new clients. Its operations are diversifying as opportunities arise in the wider areas of absence management, health and safety services, and injury prevention. There is particular emphasis on developing products and services, including ancillary services attractive to ACC’s accredited employers and other organisations. 40
section 7: Statement of forecast service performance This section sets out the outputs ACC is funded to provide and the standards against which it assesses operational performance. While outcomes are the overarching objectives of the Scheme, outputs are the actual deliverables ACC provides to its stakeholders. Aligning outputs to outcomes ensures that dayto-day activities support the Government’s objectives for the ACC Scheme. The following table breaks down ACC’s 2010-2011 budget against its output classes. Table 7: Breakdown of budget against output class Budget 2010–2011 Administration costs ($million) Claims paid ($million) Revenue ($million) Output class 1 – levy collection and setting 75 5,158 Output class 2 – investment management 44 567 Output class 3 – claims management 330 3,095 Output class 4 – injury prevention 47 Total ACC Parent 496 3,095 5,725 Other activity (e.g. subsidiaries) 1 5 Total ACC Group 497 3,095 5,730 41
Page 1: Statement of Intent 2010-2013 Our r
Page 4 and 5: Foreword from the Board Chair The l
Page 6 and 7: ACC’s strategic direction Overarc
Page 8 and 9: Guide to this document This documen
Page 10 and 11: • Rehabilitation: specific provis
Page 12 and 13: section 2: Funding This section des
Page 14 and 15: ACC managed $11.1 billion in invest
Page 16 and 17: The claims management and health pu
Page 18 and 19: section 4: Operating intentions Thi
Page 20 and 21: National injury prevention targets
Page 22 and 23: Impact measures The impact measures
Page 24 and 25: Outcome 2: Rehabilitate injured peo
Page 26 and 27: Key initiatives to support Outcome
Page 28 and 29: Exploration of alternative service
Page 30 and 31: Outcome 3: Reduce the incidence and
Page 32 and 33: Key initiatives to support Outcome
Page 34 and 35: Key initiatives to improve organisa
Page 36 and 37: Health purchasing contract manageme
Page 38 and 39: section 6: Collaboration and respon
Page 40 and 41: Reporting requirements Consultation
Page 44 and 45: Output class 1: Levy collection and
Page 46 and 47: How effective is levy collection an
Page 48 and 49: What is the scale of investment man
Page 50 and 51: The following table provides a summ
Page 52 and 53: Output class 4: Injury prevention W
Page 54 and 55: How efficient is injury prevention?
Page 56 and 57: section 8: Forecast financial infor
Page 58 and 59: • Earners’ Account - a $277 mil
Page 60 and 61: • independence allowances are bud
Page 62 and 63: Investment income Future investment
Page 64 and 65: Forecast financial statements Paren
Page 66 and 67: Balance sheet As at 30 June 2011 to
Page 68 and 69: Summary of significant accounting p
Page 70 and 71: Non-Earners’ Account The Non-Earn
Page 72 and 73: Deferred tax is accounted for using
Page 74 and 75: Revaluations Fair value is determin
Page 76 and 77: w) Unexpired risk liability At each
Page 80: www.acc.co.nz 0800 101 996 This pap

Accident Compensation Corporation - Statement of Corporate Intent ...

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