Gillard misses the chance to help the disabled and define her legacy
Julia Gillard was widely expected to announce a pilot disability insurance scheme, as recommended by the Productivity Commission in a report handed to government in late July. Instead, she announced a Rudd-esque Council Of Australian Government committee and $10 million for "technical work" to move towards eventual implementation.
Spooked by economic uncertainty, Gillard may have missed the chance to undertake a bold and socially progressive micro-economic reform with the potential to define her legacy.
The Productivity Commission recommended an agreement between the commonwealth, states and territories by early 2012, ahead of a limited rollout of the scheme in 2014 and full implementation by 2019. It also called for the establishment of a high-level task force to work on detailed implementation planning.
Gillard's establishment of an advisory group headed by respected former Families Department chief Jeff Harmer goes part of the way to meeting this goal.
But her announcement did not include any commitment to launch pilot sites by 2014.
The lack of any firm dates or details about how the scheme will be funded suggests implementation could be pushed back beyond the next election.
The disability sector as it stands is a patchwork of underfunded, and often inefficient for-profit, not-for-profit, and government agencies. Coverage and quality vary dramatically across the country. These agencies compete for state and federal block grants.
Funding does not necessarily go to the organisations that serve the most need. Some organisations struggle to get any funding. Undoubtedly, those adept at writing grant applications succeed. There is a significant mismatch between supply and demand.
The Productivity Commission's answer to this is to overhaul funding arrangements by introducing market principles. A person-centred voucher scheme will see people with disabilities awarded a tailored funding package, based on their individual treatment and support needs. Choice and competition, not central planning, will be the order of the day.
Definition Of Surplus In Insurance - News
For a government whose political credibility rests on a return to surplus in 2012-13, facing economic uncertainty at home and abroad, this is tough to cop. The government appears to have sensibly rejected a tax or spending hike to fund the scheme.
Definition of new measured and indicated resource for Sobresaliente of 2097000 tonnes at 1.05 g/t for 71000 ounces. Probable reserves are 652000 tonnes at 1.11 g/t for 23300 ounces. -- Definition of a new measured and indicated resource for Crucera of
The resulting surplus is supposed to be allocated to the deficit. But what is not included in the CBO's calculations? As it turns out, quite a bit is missing from the projections. The individual mandate so critical to the success of the legislation is
AB 315, authored by Assembly Insurance Committee Chair Jose Solorio, provides a common definition of “home state insured,” authorizes the collection of tax on 100% of the premium of California home state insured policies, and conforms surplus
The new law raises the minimum surplus requirements for residential property insurers; shortens the time frame for filing windstorm and hurricane claims to three years and sinkhole loss claims to two years; provides a more precise definition of a
Insurance Licensing: Surplus Lines « Insurance Licensing ...
The Nonadmitted and Reinsurance Reform Act (NRRA), adopted under the Dodd-Frank financial-services law, goes into effect on July 21, 2011.
Surplus Lines Brokers with multi-state risks need to be prepared for the changes as outlined in the federal law. Here are some suggestions:
1. Identify the home state of all of your insureds.
2. Document and use due diligence regarding your home state decision making process.
3. Know what the state tax rules are regarding premium tax. There could be multiple tax allocations as some states may adopt NIMA (a contract with other states/clearing house) and some may adopt SLIMPACT-Lite (an interstate compact).
4. Make sure the companies providing the coverage to your insureds are on the approved LASLI list.
5. Understand that some states have passed new legislation that could be in conflict with the federal law.
Definition Of Surplus In Insurance - Bookshelf
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FAQ: What is Surplus Line Insurance?
In order to understand what surplus line insurance is, it is helpful first to ... If a claim is made, they pay the claim from this pool of collected premiums. ...
Definition of Surplus Insurance | eHow.com
Surplus lines insurance is also known as non-admitted insurance as it not filed with state departments of insurance that regulate all insurance commerce. ...
surplus: Definition, Synonyms from Answers.com
surplus ( ) adj. Being more than or in excess of what is needed or required: surplus grain. See synonyms at superfluous
Surplus Relief: Definition from Answers.com
Surplus Relief Insurance company's reinsurance commissions and expense allowances divided by its adjusted surplus account
Earned Surplus Law & Legal Definition
Earned surplus is equal to the profits a corporation has retained since its incorporation. Earned surplus can also include portions of the surplus ...