Note 40. Contingent Liabilities
The Directorate is currently defending 123 actions (2012 – 142 actions). These actions have an estimated net liability of $5,190,000 (2012 – $5,530,000), which has not been provided for in the accounts. The estimated liability has been calculated net of the amounts covered under the Directorate’s insurance policy. The reduction in the estimated net liability is due to the ACT Insurance Authority’s acceptance, in 2012, of one previously declined high cost insurance claim.
There were no contingent assets as at 30 June 2013.