What are the benefits of Comcover to the Australian Government as a whole?
In addition to benefits for individual agencies, Comcover provides improved risk management benefits to the Australian Government as a whole by: • helping to protect the Budget and individual programs against unexpected insurable losses; • achieving transparency and greater accountability in managing the Australian Government’s insurable risks; • reducing the cost of insurable losses to the Budget over time; • reducing total costs to the Australian Government through pooling premiums and spreading risks; • enabling the Australian Government to centrally accumulate risk knowledge and expertise; • enabling better coordination and uniformity of approach to the litigation of claims against the Commonwealth; and • providing a vehicle for accessing catastrophe insurance protection from the private sector.
