ON BEHALF OF THE GIO Property Claims Management Coverable Risks Public Sector Risk Managers Association (PSRMA) - 27 June 2012 Trevor Brown – TMF Property Claims Team Leader

Content Main topics that will be covered in this presentation include; NSW Treasury Managed Fund & Coverage TMF Property Cover Unoccupied Premises Theft of Metals Notification of Incidents In Summary...

NSW Treasury Managed Fund TMF Commenced 1 July 1989  SICorp’s Mission Statement – ‘To support the effective allocation of state resources by reducing the cost of insurance to government’ Claims Managers  GIO – Liability, Property, Motor & Miscellaneous  QBE, Alliance & EML – Workers Compensation TMF Contract of Coverage proposed change to TMF Statement of Cover Service Level Agreement’s  Must perform regular Claim Reviews

Coverable Risks Annual Contributions are Commensurate to Risk Loss must be...  Definite & measurable  Random in nature Coverable Risks  Element of Uncertainty  Accidental and Unintentional  Interest in Avoiding the Risks Non Coverable Risks  Gambling  Loss of profit through competition

TMF Property Cover Fortuitous loss or damage can give rise to...  Consequential loss  Increased cost of operations  Loss of revenue  Reinstatement & Replacement conditions  Mitigation of Loss

TMF Property Exclusions TMF Property Exclusions include...  Illegal Activity  Wear & Tear  Inherent Vice  Pollution  Inventory Shortage  Notification Exceeding12 Months  $300 Franchise  Agency Self Imposed Exclusions or Limits

Unoccupied Premises Unoccupied Premises should be monitored and controlled...  Identify period of un-occupancy  Consider security needs - remoteness  Disconnect power and water  Notify local police  Regularly visit site to inspect

Increased incidents of Metal Theft experienced...  Copper, Brass, Aluminium, Steel, even Cast Iron  Gutters, Downpipes, Pipes, Roofing, Wiring, Taps, Signs, Seats, Troughs and More  Weekends, Nights, Holiday Periods  TMF Self Assessment Tool available Theft of Metals

Targets for Copper Theft Building Roofs Down Pipes Telecommunication Cables Water Pipes Guttering Electrical Wiring

Notification of Incidents Notification of Losses  For damages > $10,000 – report immediately  For damages < $10,000 – submit claim form Submission of claim forms  Use TMF Claim Form or Agency Claim Form provided all relevant details are captured  Submit through Claims On-line, or - - Early receipt of Documents = timely resolution! For Existing Claims – Send additional information to: 

In Summary Establish procedures for early reporting of new claims, especially large losses Provide a realistic assessment of the estimated loss, together with the probable timelines for the supply of supporting documentation Provide a detailed schedule of loss for contents losses In event of loss of revenue, provide details of associated costs along with supporting documents Identify and advise TMF details of possible recovery actions Acknowledge requests from TMF, or its appointed adjuster, for the supply of information estimating time it will take for data to be provided Maintain open channels of communication with TMF and its appointed adjusters

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