Treasury and Exchequer responds to C&AG report on insurance arrangements

Treasury and Exchequer has responded to a report on insurance, issued today by the Comptroller and Auditor General (C&AG). 

The C&AG’s report, which was undertaken and prepared before the Covid-19 pandemic, focusses on the effectiveness of the Government’s arrangements for insurance. It looks at the governance and oversight of insurance, identification of risk, policies for insurance and self-insurance, decision making, tendering procedures and the arrangements for identifying and managing insurance and self-insurance claims.

In her report, Lynn Pamment welcomes the Government’s “ambitious and forward-looking Insurance Strategy and Improvement Plan” which she notes is a “timely and much needed document.”

She does, however, recognise that the ability to deliver this strategy is dependent on resources in the insurance team. 

Speaking about the findings of the report, the States Treasurer, Richard Bell, said: “While there is still much to do, I would like to thank the C&AG for reviewing our insurance arrangements and acknowledging the progress recently made with the development of our new Insurance Strategy and Improvement Plan. 

“We welcome the recommendations made by the C&AG to help improve our plan. These will help us better manage our costs and future approach.”

The department will now consider the recommendations in consultation with other departments and will respond fully in due course.