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|Home| |Background| |Achieved| |Ambulance| |3 Year| |Other|
During the first two and half years of its existence, over 200 Trusts and Strategic Health Authorities signed up to the National Contract. Contributions towards renewal funds averaged in excess of 40%, providing a major saving in overhead.
As this is a unique concept, there are distinct budgeting advantages to be gained. Because of the direct correlation between the Damage Fund and claims, it is possible to smooth out the peaks and troughs of expenditure by utilising the Fund surpluses from year to year. Furthermore, the provision of quarterly Risk Management reports and Fund projections will indicate at an early stage whether there will be any change in your insurance costs at the following renewal, thereby removing the surprise element from the renewal process.
Conventional insurance arrangements provide only limited information, whereas the National Contract will enhance the Board's knowledge of this important area, besides giving it the tools to take responsibility for 'Work-Related Road Safety' initiatives.