NSW CTP Green Slip scheme under review
Fri Mar 11 2016Minister for Innovation and Better Regulation Victor Dominello has announced a major review of the NSW CTP Green Slip Scheme during a speech at the Australian Lawyers Alliance NSW State Conference this morning.
"Most motorists in NSW are now paying around $600 or more for their green slip and without reform of the scheme, premiums are forecast to increase by a further 10 to 20 per cent over the coming year," the minister said. "Over the past decade only 45 cents in every premium dollar has been returned in benefits to injured road users, with the rest going towards scheme costs and providers."
The State Insurance Regulatory Authority has released a discussion paper on options for reforming CTP insurance and is seeking feedback by Friday, 22 April 2016. The SIRA web site includes other relevant information, such as the Report of the Independent Review of Insurer Profit within the NSW CTP Scheme.
The Bar Association's Common Law Committee is meeting on Tuesday to discuss issues arising from the government’s options paper. Any members with comments regarding the government’s proposals, or regarding issues relevant to the government’s CTP Fraud Taskforce on which the Bar Association is represented should provide them to Alastair McConnachie at amcconnachie@nswbar.asn.au