More Proof that ACC are rip-off merchants

[Pixie]

I received this via email:
AON insurance can manage to finance ACC monthly payments on a $100,000 premium,at a rate that will save the insured $1400 a year over the ACC rate.

N.B. This is not a competing insurance scheme,It is just financing the ACC own premium.

Save money on ACC - Levy funding opportunity!

In our recent client newsletter, we highlighted the increase in ACC levies from 1 April 2010 and the monthly payment facility available through Aon.

You should receive your ACC Levy invoice during June/August 2010. The increasing costs of ACC has led many businesses to look for alternative ways of paying their ACC costs. Aon can offer a funding arrangement that allows businesses to pay their ACC costs by monthly installments. If you are interested in obtaining a quote for this funding arrangement, please contact your Aon Broker.

Attached is an information brochure providing further details which indicates the substantial savings that may be available to you.



(See attached file: ACC Finance Flyer.pdf)

Attachment 210610

[rainman]

A question somewhat oblique to your original point, but bear with me:

One for the privatisation fans. If the SOE's et al are making money (and they seem to be returning half a bil or so to government, if I read the accounts right), then if we privatise them, all that return to state coffers goes away. Meaning taxes have to go up or services have to go down... I don't buy the story that there is massive and widespread inefficiency in all government departments, at least not at a radically different level to what exists in private enterprises. (Plus efficiency is a diminishing return problem). But assuming there is, and a new private owner can lift profits through clever management, at a company tax rate of ~1/3 they would have to multiply profits by 3 for the government to break even, tax-wise.

And that's assuming there is not major restructuring, dumping many of us onto the dole, at increased public cost - which there usually is, when these things take place.

So, even if ACC are non-optimal in terms of premiums, isn't the alternative much worse?

[avgas]

Not really disagreeing rainman. but there is a big fat middle ground.
What about a choice?
You can opt for the public provided setup (ACC) or opt for a private setup (Southern Cross).
This is currently operating in our Schools, so why not here?
Keep ACC in govt control, but allow for others to break the monopoly it holds. Even if it is an efficient system, it will only take 1 person to take advantage of the situation for money to go astray.
They need competition to keep them honest, regardless of whether they are inefficient or not.

[Howie]

I received this via email:
AON insurance can manage to finance ACC monthly payments on a $100,000 premium,at a rate that will save the insured $1400 a year over the ACC rate.

N.B. This is not a competing insurance scheme,It is just financing the ACC own premium.

Save money on ACC - Levy funding opportunity!

In our recent client newsletter, we highlighted the increase in ACC levies from 1 April 2010 and the monthly payment facility available through Aon.

You should receive your ACC Levy invoice during June/August 2010. The increasing costs of ACC has led many businesses to look for alternative ways of paying their ACC costs. Aon can offer a funding arrangement that allows businesses to pay their ACC costs by monthly installments. If you are interested in obtaining a quote for this funding arrangement, please contact your Aon Broker.

Attached is an information brochure providing further details which indicates the substantial savings that may be available to you.

Unfortunatly I can't open the attachment for some reason?

It would be interesting to read it, as someone who is employed by a company in ACC partnership program with WorkAon I know that it cost the company more last finincial year in fees to them, than if they had remained directly with ACC.
When I questioned this Mangements answer was that they had better and quicker service, which is actually doubtful from some of examples I have heard of.

The only way an insurance company is going to be competitive is because of the need for future funding claims, and through being harder on accepting claims.

[Pixie]

Unfortunatly I can't open the attachment for some reason?

It would be interesting to read it, as someone who is employed by a company in ACC partnership program with WorkAon I know that it cost the company more last finincial year in fees to them, than if they had remained directly with ACC.
When I questioned this Mangements answer was that they had better and quicker service, which is actually doubtful from some of examples I have heard of.

The only way an insurance company is going to be competitive is because of the need for future funding claims, and through being harder on accepting claims.

Here's a screenshot