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Parliamentary Questions


Question Without Notice No. 609 asked in the Legislative Council on 2 September 2021 by Hon Dr Steve Thomas

Parliament: 41 Session: 1

INSURANCE COMMISSION — BELL RESOURCES SETTLEMENT

609. Hon Dr STEVE THOMAS to the minister representing the Treasurer:

I understand that the answer to my question may not be provided until next week.

I refer to the Bell Resources settlement given to the Insurance Commission of Western Australia—ICWA—on 11 September 2020 of $665.4 million and the evidence given by the Insurance Commission of Western Australia to the Standing Committee on Estimates and Financial Operations yesterday, 1 September 2021, in a public hearing.

(1) Can the Treasurer confirm the evidence of ICWA yesterday that the cost of the litigation to the government was $292 million?

(2) If no to (1), what was the cost?

(3) What was the amount of money returned to ICWA from the Bell Resources settlement?

(4) What was the net return to ICWA of the Bell Resources settlement after costs were taken out?

(5) Can the Treasurer confirm the statement by ICWA yesterday that the board of ICWA is yet to make a decision about what dividend it will pay to the state government from the net returned Bell Resources funds?

Hon SUE ELLERY replied:

I thank the honourable member for some notice of the question, on behalf of the minister representing the Treasurer. I was advised that he was advised that the Treasurer was not available to answer questions today, so I do not have an answer, but I am sure we will get one on Tuesday.