About ACTIA


ACTIA - Australian Capital Territory Insurance Authority

About ACTIA

The Australian Capital Territory Insurance Authority (ACTIA) is a statutory authority responsible to the ACT Treasurer.

ACTIA provides insurance protection and risk management advice for the Australian Capital Territory Government, covering over $23 billion worth of physical assets and its associated liability exposures.

All government directorates and statutory authorities, unless exempted by the Treasurer, are insured with ACTIA. An Indemnity Agreement sets out the cover provided and the level of excess (deductible) required to be met by the agencies.

A premium is charged to agencies based on risk factors and risk management practices in place.

Principal Objectives

ACTIA is established under Section 7 of the ACT Insurance Authority Act 2005. The objectives of the ACTIA are:

In addition, the Authority also performs the function of:

Functions

The functions of ACTIA are specified in Section 8 of the Insurance Act 2005 and include:

Clients

ACTIA insures all ACT Government agencies and has no external (non-ACT Government) clients.

Types of insurance cover provided include:

History

ACTIA commenced operation in April 2001 being established by the ACT Insurance Authority Act 2000 to replace the Insurance Management Account in the ACT Department of Treasury that was introduced from 1 July 1998.

A new governing Act was introduced in 2005, ACT Insurance Authority Act 2005.


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