The New South Wales Bar Association has today called for an independent review of the compulsory third party insurance scheme for NSW motorists by a retired judge, following repeated warnings that the State’s green slip scheme continues to favour insurers’ profits and unfairly excludes genuinely and permanently injured people.
In today’s Daily Telegraph (copy here), Bar Association President Arthur Moses SC expressed concern at Finance Minister Dominello’s statement that CTP reforms are ‘going better than expected’, when in reality only 2% of the nearly $1 billion in premiums collected by insurers during the first eight months of the CTP scheme’s operation has been paid to injured people. This falls short of the Government’s original suggestion that more than 50% of premiums would be paid out during the scheme’s first year of operation.
In a statement, click here for a copy, Mr Moses SC said that ‘The Association is pleased that the Minister has indicated a review will be undertaken into the scheme. However, in order to fairly and objectively assess the scheme’s impact in achieving its real purpose, that investigation must be undertaken by a truly independent reviewer, not the government organisation iCare, in accordance with clear and robust terms of reference. The Association suggests that consideration should be given to appointing a retired judge to serve as the independent reviewer. ‘The Association has written to the Premier and the Minister to express these concerns. We remain willing to work with the Government, insurers and the community in NSW to promote fair and just outcomes in this important area,’ Mr Moses SC said.