No Other Subject Taught in School Is as Important as Moral Science

Topics: Insurance, Godrej Group, Ardeshir Godrej Pages: 6 (1737 words) Published: June 1, 2013
Accident Compensation Corporation
The Accident Compensation Corporation (ACC) is a New Zealand Crown entity responsible for administering the Accident Compensation Act 2001.[1] The Act provides financial compensation and support to citizens, residents, and temporary visitors who have suffered personal injuries. As a Crown entity, ACC is responsible to a Cabinet Minister via its Board of Directors. The current Minister responsible for ACC is Hon Judith Collins. Features

ACC is the sole and compulsory provider of accident insurance for all work and non-work injuries. The ACC Scheme is administered on a no-fault basis, so that anyone regardless of the way in which they incurred an injury, is eligible for coverage under the Scheme. Due to the Scheme's no-fault basis, people who have suffered personal injury do not have the right to sue an at-fault party, except for exemplary damages.[2] The ACC Scheme provides a range of entitlements to injured people, however 93.5 percent of new claims in 2011-12 were for treatment costs only. Other entitlements include weekly compensation for lost earnings (paid at a rate of 80% of a person's pre-injury earnings) and the cost of home or vehicle modifications for the seriously injured. The entitlements offered by the Scheme are subject to various eligibility criteria. Initially ACC was not available to veterans, as the scheme was not introduced until 1974 and was not retrospective. However ACC law specialist John Miller claims a 1992 law change did make the scheme retrospective.[3] Full funding of historic claims is due to come into effect in 2014.[4] History ACC is rooted in the 1900 "Worker's Compensation Act", which established a limited compensation scheme for workers who had suffered injuries where there was no directly responsible party. In 1967, a Royal Commission report ('The Woodhouse Report') recommended that this compensation should be extended to all injuries on a no-fault basis. Following this report, on 1 April 1974 the Accident Compensation Commission was established, to implement the requirements of the 1972 Accident Compensation Act, and the 1973 Amendments. The Act was later replaced by the Injury Prevention, Rehabilitation and Compensation Act 2001, which was renamed the Accident Compensation Act 2001 in 2010. The Annual Report (1989/90) of the Accident Compensation Commission[5] proposed that the distinction between "accidents" (which is covered[6]) and "illness" (which is not) should be dropped. But this proposal was not taken up. In 1992 the Accident Compensation Commission changed its name to the "Accident Compensation Corporation". From 1 July 1999 the Fourth National government allowed private insurance operators to provide work-related accident insurance, and ACC was briefly exposed to competition. Following the election of the Fifth Labour government in November 1999, this change was repealed, and as of 1 July 2000, ACC was re-instated as the sole provider of accident insurance coverage. Godrej Group|

Type| Private|
Industry| Conglomerate|
Founded| 1897[1]|
Founder(s)| Ardeshir Godrej
Pirojsha Godrej|
Headquarters| Mumbai, Maharashtra, India|
Area served| Worldwide|
Key people| Adi Godrej (Chairman), Jamshyd Godrej, Nadir Godrej| Products| Real estate, FMCG, industrial engineering, Appliances, Furniture, Security, Agri care, and others| Revenue| 21600 crore (US$4.0 billion)(2013) [2]|

Employees| 26,000 (2013)|
Subsidiaries| GCPL, Godrej Infotech Ltd, Godrej Industries Ltd, Godrej Properties, Godrej Agrovet| Godrej Group is an Indian conglomerate headquartered in Mumbai, Maharashtra, India. It was founded by Ardeshir Godrej and Pirojsha Godrej in 1897, Lalbaug,...
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