Brisbane drivers have been paying 3.3 cents per litre too much in the past year. Together they spend $50 million more on petrol each year than motorists in other capital cities. Australian Competition and Consumer Commission (ACCC) says fuel retailers have, for eight years, been enjoying high prices at the expense of motorists. Read more
Just because you register your vehicle every year does not mean you know all about compulsory third party (CTP) insurance. This is why Motor Accident Insurance Commission (MAIC) regularly surveys Qld motorists and new car buyers to find out how much they understand CTP insurance. Read more
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