The National Treasury Management Agency (NTMA) today reported results for 2012 and provided a review of activities across the range of its business functions.
The following extract relates to the State Claims Agency, the name used by the NTMA when performing its delegated claims and risk management functions. More information is available in the NTMA Annual Report 2012.
As a result of the delegation of management of claims against new authorities and additional classes of claims, the number of claims under the SCA’s active management at end 2012 increased by 8 per cent from a year earlier to 5,755. The estimated liability against all active claims at end 2012 was €1.1 billion, of which €970 million (86 per cent) related to clinical claims and the remainder, €157 million (14 per cent), related to personal injury and third-party property damage claims.
The SCA achieved savings of €43.5 million in the management of clinical claims in 2012. The net cost of satisfying clinical claims and related costs during the year was €84 million compared with an independent actuarial assessment that €127.5 million would be required.
The SCA’s newly-established Legal Costs Unit, tasked with dealing with third-party costs arising from certain Tribunals of Enquiry, has secured significant savings on the first batch of tribunal-related legal expense claims resolved by the Unit since it became operational in February 2013.
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