24 August 2012

Insurance Council urges ACT to pass CTP reforms

The Insurance Council of Australia today called on the ACT Legislative Assembly to pass reforms to the Compulsory Third Party scheme to create a more balanced and affordable scheme while ensuring adequate compensation for people seriously injured in motor vehicle accidents.

The reforms, contained in the Road Transport (Third-Party Insurance) Amendment Bill 2011, would provide a reasonable balance between the accessibility of non-economic loss damages for people seriously injured in motor vehicle accidents and the affordability of the ACT CTP scheme for motorists.

The reforms would bring the ACT into closer alignment with the NSW CTP scheme.

The ICA and its members are keen to continue working with the ACT Assembly to enhance the operation of the CTP scheme in the ACT, and to ensure the successful implementation and operation of the proposed legislative reforms.

The ICA’s submission to the Standing Committee on Public Accounts’ (Committee) Inquiry into the scheme is available at: http://www.insurancecouncil.com.au/assets/files/inquiry%20into%20the%20road%20transport%20(third-party%20insurance)%20amendment%20bill%202011.pdf

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