Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
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Every year the Road Accident Fund releases its financial report, and alleges to be more in deficit than the previous year. The latest deficit is contained in its 2012 annual report which can be obtained on its website at www.raf.co.za. Essentially, as of 31 March 2011, the Road Accident Fund has a provision for outstanding claims at R26 billion, they have increased it, despite legislation that eliminated probably 80% of claims by another R16 billion to R42 billion as of 31 March 2012.
During those two years the cash on hand at the Road Accident Fund increased from R1,1 billion on 31 March 2011 to R4,2 billion on 31 March 2012. In other words, the Road Accident Fund’s cash situation, just at the end of March, improved 400%, but the deficit is based on this huge increase and provision for outstanding claims. One wonders how, with so many attorneys retrenching staff, and those that remain in this line of work, doing so much less work than they did before, the provision for outstanding claims can increase with R16 billion in one year alone?
Posted by Michael de Broglio on Thursday 27-Sep-12
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Comments
Brumilde said:
on Tuesday 02-Oct-12 10:17 AM
One must wonder when people will start doing their jobs there.
Megan said:
on Tuesday 02-Oct-12 09:21 AM
Typical government institution drivel
Sarah said:
on Monday 01-Oct-12 08:02 AM
I totally agree with Tans the government must start using their money wisely and the Fund is to be believed (and they have been alleging this for years), they should be unable to pay any claims at this point. Some intereatibg facts.
Kaylene said:
on Friday 28-Sep-12 05:40 PM
I totally agree with Tans, cant people think like that
Tans said:
on Thursday 27-Sep-12 11:34 PM
So interesting. Funny how the noises made by government and the Fund about alleged financial problems are not borne out by the figures. If the Fund is to be believed (and they have been alleging this for years), they should be unable to pay any claims at this point. Yet they seem to be doing just fine - and also seem fine paying several firms of fund attorneys lots of money for, with respect, very little work.
Cherise said:
on Thursday 27-Sep-12 01:12 PM
I agree with Robyn , I do understand that Logic at all.. Needs to be explained to me to.
Robyn said:
on Thursday 27-Sep-12 08:55 AM
Someone needs to explain this to me as well. Makes NO sense.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
