Twelfth report on the costs of the Australian Government’s Run Off Cover Scheme for medical indemnity insurers - 2015-16 Financial Year

This report has been prepared to comply with certain requirements of the Medical Indemnity Act 2002 (Medical Indemnity Act). Section 34ZW of the Medical Indemnity Act provides for a report on aspects of the Run-Off Cover Scheme (the Scheme) to be tabled each year in Parliament. The report is required to contain a statement of the:

• number of persons eligible for membership of the Scheme;
• total Run-Off Cover indemnity payments (ROC indemnity payments) paid by the Commonwealth during the financial year, including claims handling and administration expenses;
• total Run-Off Cover support payments (ROC support payments) paid to the Commonwealth during the financial year; and
• a projection of the Commonwealth’s liabilities in relation to amounts of Run-Off Commonwealth contributions in future financial years.

This is the twelfth report that has been prepared under section 34ZW of the Medical Indemnity Act. It relates to financial year 2015-16. The eleventh report was tabled in Parliament on 14 September 2016.