Our last Qld News, Queensland CTP scheme is under review, listed a few recommendations for change to compulsory third party (CTP). Another recommendation was to investigate new kinds of risk rating. This means insurers could charge good drivers a lower premium – or charge risky drivers higher premiums.
The Queensland regulator, MAIC, has just reviewed the CTP insurance scheme in Qld and made some recommendations. The point of the review was to see if the scheme could be more affordable, efficient and fairer. It examined, for example, premium prices, legal fees, ridesharing and insurer profits. Read more