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NT Councils Discretionary Trust

In Australia, Local Government Mutual Schemes/Discretionary Trusts have a proven record of delivering sustainably low contributions even in the face of adverse claims outcomes. Such is the benefit of insulation provided by the size of membership. Purchasing power also allows the Schemes/Discretionary Trusts access to broad protection and competitive pricing.

Since its inception in 2018, the NT Councils Discretionary Trust Arrangement* has continued to grow and operate successfully. The Trust has demonstrated that it can deliver financial benefits to its members and achieve its objective of ensuring protection through stable contributions, cost containment and spread of risk.

The NT Councils Discretionary Trust was developed at the time when individual councils with poor claims records were being heavily penalised and many had difficulty obtaining protection. With councils operating within a limited revenue stream, large claim payments were becoming increasingly difficult to budget for.

The NT Councils Discretionary Trust is managed by JLT Public Sector and is available to LGANT members.

The Discretionary Trust Arrangement is currently designed for property damage and liability type claims with the benefits including:

  1. Claims are paid on a discretionary basis
  2. Competitive and stable pricing
  3. Security and long-term stability
  4. Equity and rebates through the discretionary trust structure
  5. Stable and trusted excess of loss insurance partners that have stood the test of time
  6. Return of surplus rebates and interest disbursements to members, meaning profits go to members, not insurers
  7. Sector-specific member services

Claims

Claims management is a crucial and key element of JLT’s service. Leveraging the discretionary benefits of the Trust and trusted relationships with excess of loss insurance partners, JLT has unrivalled experience to ensure the most beneficial claim settlement and outcomes in the interest of the members is achieved.

Claims are managed from end-to-end by JLT’s local, skilled and experienced personnel with significant expertise in public sector claims, who always work staunchly in the members’ best interest.

Advisory Committee

The NT Councils Discretionary Trust Advisory Committee represents members interest of the participating councils.

The role of the Committee is to advocate for the mutual and its members and help ensure the mutual delivers viable and protective strategies aimed at reducing the contribution costs and risks associated with local government assets and liabilities.

Contact

If your council has questions, needs support, or wants to learn more about the Trust and JLT’s services, please don’t hesitate to reach out to:

Katie McGettigan, Executive Manager NT
t: 08 8925 5305 | m: 0474 925 638 | e: katie.mcgettigan@jlta.com.au

*It is important to remind all members a Discretionary Trust Arrangement is not insurance. This is due to one component of the arrangement involving the trustee’s absolute discretion as to whether to pay claims and how much to pay over and above the mutual wording. The Discretionary Trust Arrangement is authorised and classified by ASIC as a managed investment scheme and mutual risk product. It is neither authorised under, nor subject to, the Insurance Act 1973 (Cth) nor is it regulated by the Australian Prudential Regulation Authority (“APRA”).