The responsibilities of the Marine Search and Rescue (MSAR) Finance and Insurance Project Group are to provide advice on a number of key elements:
- Develop an operational cost model for MSAR services based on the summaries of financial information provided by service providers
- Provide advice on an insurance model for MSAR Service Providers
- Provide advice on options for insurance provision
- Provide advice on capital and operating budget submissions, including the role of grant programs
- Provide advice on processes to manage budget and funding allocations to Service Providers, including reporting requirements
More information on the role and responsibilities of the Project Groups can be found in the Terms of Reference.
The MSAR sector has received funding to cover insurance costs and is managed by the Victorian Managed Insurance Authority. Details about the policies can be found in Marine Search and Rescue Insurance Program 2016-17.
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