ACC board reappointments   7 Jul 2015

Hon Nikki Kaye
Minister for ACC

ACC board reappointments

ACC Minister Nikki Kaye today announced the reappointment of six members of the board of the Accident Compensation Corporation.

“I’m pleased to announce that Chair Paula Rebstock, Deputy Chair Trevor Janes and Kristy McDonald have all been reappointed for three-year terms,” says Ms Kaye.

“The other three directors whose terms expire this year, Professor Des Gorman, Anita Mazzoleni and Jill Spooner, have been reappointed for a further two years.

“I have staggered the new terms of these reappointed directors to phase succession and ensure the board retains institutional knowledge.”

Directors James Miller and Professor Gregor Coster continue their current terms.

“The ACC Board comprises people with diverse specialist and technical skills, from accountancy and law to finance, investment management and medicine.

“I’d like to acknowledge the work they’ve been doing, which has helped ACC achieve a number of significant milestones recently.

“For example, ACC’s three levied accounts are now fully funded, which provides reassurance to New Zealanders that ACC is well placed to meet their ongoing support needs.

“This strong financial position is underpinned by the scheme’s investment portfolio growing to $31.5 billion in March this year, up from $10 billion in 2009.

“These investment assets are necessary to meet ACC’s current claims liabilities. It’s important to note that the money ACC collects through levies is ring-fenced, and can only be used to meet the costs of claims and running the scheme.

“As I said when announcing the ACC Amendment Bill currently before parliament, we must ensure that the scheme is adequately funded to withstand economic volatilities, while ensuring levies are kept as low as possible and stable over time.

“As well as overseeing ACC’s impressive financial results, the board has also made sure the corporation is focused on improving the service it provides.

“This is reflected in markers such as reviews of decision falling from around 10,000 a year to 6,000 a year, and trust and confidence increasing from 45 per cent in 2012 to 60 per cent in March 2015.

“These developments confirm that ACC is heading in the right direction, and I look forward to the board continuing to guide the corporation as it carries on along this positive path.”

ENDS

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