Municipal Mutual Limited
MMI recently published their accounts as at 30 June 2016. Within the commentary provided by the Scheme Administrator there are a number of important points which we wish to highlight to you.
MMI have collected the original 15% Levy and invoiced Members for an additional 10% Levy in April 2016. Of this Levy 98.5% has been physically paid as at 30th June 2016. As a consequence of the additional Levy, members of the Scheme of Arrangement are now self-insured to the extent of 25% of any future claim payments.