TAC delivers high client service

31 Oct 2007

Media Release - 31 October 2007

The Transport Accident Commission (TAC) has maintained its highest-ever level of client satisfaction while providing $709 million in support services to more than 39,000 Victorians in the 2006/07 financial year, TAC Chairman, Mr Paul Barker announced today.

Mr Barker said the TAC Annual Report - tabled in State Parliament today - highlighted the work of the TAC in accident prevention, claims management, rehabilitation and financial management.

“Service delivery and scheme viability are our two key business priorities and we are constantly striving to improve our performance in both areas,” Mr Barker said.

Mr Barker said key results for 2006/07 included:

• Client satisfaction score of 7.4 out of 10
• $709 million in support services for 39,813 clients
• Record low claim lodgements
• More than $16.3 million in funding for trauma research through the Victorian Neurotrauma Initiative
• Continued commitment of $60 million per annum (indexed over 10 years) to further improve road safety infrastructure
• New road safety campaigns on drug driving, vehicle safety and driver distraction
• Write-down in projected liabilities of $118 million
• Funding ratio of 115.3%
• Strong investment return of 13.8%
• After-tax profit of $691 million, due to buoyant investment markets and lower levels of road trauma
• Geelong presence established with the opening of a TAC Information Centre
• Collaboration with WorkSafe Victoria on Health Services and IT Shared Solutions

Mr Barker said the TAC’s relocation to Geelong was on track.

“During the year, we continued to build our presence in Geelong with the opening of an Information Centre and construction starting on the TAC’s new headquarters,” he said.

“Over the next twelve months we will continue our relocation, with our recently opened Geelong office ensuring a smooth transition for clients and employees, while maintaining a strong commitment to the community we serve”.

This year marked the TAC’s 20th anniversary. Since its inception, the TAC has provided nearly $10 billion in compensation to more than 400,000 people.