Page 1053 - Week 03 - Thursday, 23 March 2017

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(3) The lowest CTP premium charged for a class 1 passenger vehicle (private use) for

12 months as at:

a) 30 June 2013 was $578.20;

b) 30 June 2014 was $590.20;

c) 30 June 2015 was $568.60;

d) 30 June 2016 was $549.90; and

e) 1 February 2017 was $544.90.

(4) Section 203 of the Civil Law (Wrongs) Act 2002 required insurers to provide, in relation to the ACT market, annual returns for a range of insurance information, including the quantum of premiums collected. This included CTP motor vehicle insurance.

a) In 2012-13 the premiums paid to the insurer totalled $143.190 million; *

* This figure includes the total combined amount for Employers’ liability, Aviation and CTP motor vehicle insurance for 2012-13, given the small number of insurers operating in these markets. A combined total was necessary to protect the confidentiality of each insurer’s report. In the case of CTP, NRMA was the sole CTP insurer for the ACT during 2012-13.

b) In 2013-14 the Premiums paid to the insurer totalled $147.559 million;

c) In 2014-15 the Premiums paid to the insurer totalled $152.172 million; and

d) and e)

The 2015-16 and 2016-17 premiums paid to the insurer are not available. The Justice and Community Safety Legislation Amendment Act 2016 (JACSLA Act) amended the Civil Law (Wrongs) Act 2002 to remove the requirement for annual reporting by insurers who carry on insurance business in relation to property in the ACT. The JACSLA commenced 29 June 2016:

• Reporting requirements for insurers were introduced in 2002 in response to widespread uncertainty relating to the availability and affordability of public liability insurance. These reporting requirements were removed as the ACT was the only Australian jurisdiction that continued to collect insurance data and table a report in the legislature; and

• The ceasing of insurance reporting requirements reduced the business cost burden for insurers that process claims in the ACT, and is consistent with the ACT Government’s ongoing commitment to red tape reduction and the associated red tape reduction legislation put in place.

(5) To be able to claim compensation under the ACT CTP insurance scheme, a person has to be injured in a motor accident that was someone else’s fault. Fault must be investigated and proven in every case. CTP insurance covers personal injuries that you cause (as the at-fault person) to third parties including drivers, passengers, pedestrians, cyclists, motorcyclists and pillion passengers.

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