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Medical Indemnity (Unfunded IBNR factor — United Medical Protection Limited) Determination 2003 | Zoe

Commonwealth legislation

Medical Indemnity (Unfunded IBNR factor — United Medical Protection Limited) Determination 2003

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This short ministerial order fixes the "unfunded IBNR factor" for United Medical Protection Limited (UMP) at 1 (100%), meaning UMP’s future unreported claim liabilities are recognised at full face value for government financial calculations. It applies to UMP and its members and forms part of the government’s measures to stabilise Australia’s medical indemnity system after UMP’s 2002–03 collapse.

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Current sections

Direct links to the current provisions in Medical Indemnity (Unfunded IBNR factor — United Medical Protection Limited) Determination 2003.

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Medical Indemnity (Unfunded IBNR factor — United Medical Protection Limited) Determination 2003

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Medical Indemnity (Unfunded IBNR factor — United Medical Protection Limited) Determination 2003

I, KAY CHRISTINE LESLEY PATTERSON, Minister for Health and Ageing, acting under paragraph 22 (1) (b) of the Medical Indemnity Act 2002, determine that United Medical Protection Limited’s unfunded IBNR factor is 1.

This Determination commences on gazettal.

Dated 27 June 2003

KAY PATTERSON

Minister for Health and Ageing

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8 meta-generator: Aspose.Words for .NET 20.2

?xml version="1.0" encoding="utf-8" standalone="no"?>

Medical Indemnity (Unfunded IBNR factor — United Medical Protection Limited) Determination 2003

I, KAY CHRISTINE LESLEY PATTERSON, Minister for Health and Ageing, acting under paragraph 22 (1) (b) of the Medical Indemnity Act 2002, determine that United Medical Protection Limited’s unfunded IBNR factor is 1.

This Determination commences on gazettal.

Dated 27 June 2003

KAY PATTERSON

Minister for Health and Ageing