CTU says ACC "crisis" made up to hike levies.

[Mully]

http://nz.news.yahoo.com/a/-/top-stories/6491972/acc-crisis-made-up-to-hike-fees-ctu/

"Drove my Chevy cos the levies made my rego too high"
(Max, pay attention man!!)

[Laxi]

ok, explains why we had union protesters at the bikeoi i guess

[mashman]

"The Government says the changes are needed because ACC's claim costs have risen by 57 percent and its unfunded liabilities have grown from $4 billion to $13b in just four years."

Is that according to a report? Hard factual data? or just figures generated from the flawed reports that ACC are using?

[AD345]

"The Government says the changes are needed because ACC's claim costs have risen by 57 percent and its unfunded liabilities have grown from $4 billion to $13b in just four years."

Is that according to a report? Hard factual data? or just figures generated from the flawed reports that ACC are using?

Unfunded liabilities are the future costs (estimated) of current claims. they want to cover todays claims for the next 40 years

Currently they can only cover 18. Shame huh?

[Mully]

Is that according to a report? Hard factual data? or just figures generated from the flawed reports that ACC are using?

Yeah, unfunded liabilities (AFAIK) are the costs for every accident which happens this year, in perpetuity - which is part of their flawed figures.

[mashman]

I understand the idea behind funded liabilities more cars on the road, higher risk of crash, inflation blah blah blah... but a formula has been used to calculate this and the ACC openly acknowledge that there are "variances" when reading their reports...

for instance: 10 claims under $500, 4 over $1500.

The total comes to 14 claims and $11000 right? NO, wrong.

It's 14 claims and and anywhere between $6010 and $10999

This is a real scenario, using the statistical analysis methods produced by ACC... and i can back it up!