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NSW CTP greenslip reforms

Discussion in 'Politics, Laws, Government & Insurance' started by caz64, Jun 29, 2016.

  1. The NSW Government today released a plan to overhaul the state's Compulsory Third Party Motor Accident Insurance Scheme aimed at making it fairer and more affordable for road users.

    Minister for Innovation and Better Regulation Victor Dominello said that under the Government’s proposal, defined benefits would be introduced for low severity injuries, with lump sum compensation retained for the most seriously injured.

    "We have the least affordable motor accident insurance scheme in the country, with Sydney passenger vehicle owners currently paying between $537 and $886 for their Green Slip," Mr Dominello said.

    "A surge in low severity claims, for injuries such as whiplash and soft tissue damage, is putting significant pressure on Green Slip premiums. Without reform, premiums are expected to rise a further 10 to 20 per cent in coming years.

    "The current scheme returns just 45 cents in every Green Slip dollar to injured road users, with the rest going to pay for scheme costs, including insurer profits, legal fees and medical fees. This is simply not sustainable."

    The Government’s proposal introduces ‘no-fault’ compensation, extending protection to an extra 7,000 road users per year not covered under the current ‘at-fault’ scheme.

    "The no-fault scheme we are proposing has rehabilitation at its heart. Rather than waiting years for a lump sum settlement, the majority of injured road users will have access to benefits much faster.

    "As a result of reduced scheme costs, we will see a much higher proportion of the premium dollar going to injured road users. The majority of NSW motorists can also expect to see a substantial reduction in their Green Slip premiums."

    An expert reference panel, chaired by former NSW Government Minister John Della Bosca and Deputy Chair of the State Insurance Regulatory Authority Board Nancy Milne, will make recommendations on the detail of the enabling legislation, to be introduced into Parliament later this year.

    Subject to Parliament’s approval, the new scheme could come into effect from July 2017. Further information is available atwww.greenslipreforms.nsw.gov.au

    NSW Motorists To Benefit From CTP Reforms | Department of Finance, Services and Innovation
  2. Wasn't John bosca sacked from the Labour Party
  3. by "majority" will be cheaper.. they mean "not bikes"?
    • Agree Agree x 3
  4. Payouts to the injured will be reduced but the lawyers and insurance companies will still get more than their fair share.
    • Agree Agree x 2
  5. Yeah I think by "overhaul" they mean "we could be making more money from this..."
    • Agree Agree x 3
  6. yeah that's normally how it works. who can they make the most from with the least resistance?
  7. Yeah the problem with bikes is that they just don't make up enough of the ctp market so when they say it will become cheaper for most road users it's usually the minorities that get shafted.

    Will be interesting to see how this pans out.

    chilliman64chilliman64 you'll notice I've changed my avatar to me on DrSleepyDrSleepy's bike. Only a few more days looking at it regularly and I'll just have to get one ;-)

    Not sure I feel comfortable saying this, but I might do up the cb400 and make it pretty enough to sell in the spring time, it'd be a great purchase for someone looking to learn. Then I can look at daytonas :D
    • Like Like x 2
  8. The probably mean "not cars" as well. It's the insurance companies that benefit, not the users that pay for it.
  9. From the Reform Position Paper:
    "In March this year SIRA released a discussion paper3 which considered the perceived disparity between the rules and prices associated with different classes of point-to-point transport vehicles."

    Can anyone find this paper? If by point-to-point transport they mean truck transport, could this be another way of screwing over owner-drivers?

    Excuse my paranoia, but anytime a polly wants to 'reform' something I smell a rat.
    • Agree Agree x 1
  10. go for it buddy, you know you want it. you can already see yourself knee down on the Daytona while the CB400 is getting loving thrashed by some young dude on his P's... :)
    • Agree Agree x 1
  11. The cb400 just screams sensible to me - it's cheap, efficient, and it goes like stink if you want it to. Perfect for the commute. Now the firestorm has a nice cover I can keep it pretty for weekend rides and put all the damaging short rides on the cb400. If I've got a Daytona, the firestorm will become the workhorse and.... Actually that's a great idea. Just need a mortgage for fuel. But I didn't buy a litre v twin for economy :p fcuk sensible. I'm buying a race bike
    • Like Like x 1
    • Winner Winner x 1
  12. O. M. G. What have I started?!

    You do realise you're going to need perfectly colour-matched leather as well, right?
    • Like Like x 1
    • Funny Funny x 1
  13. The Daytona is white and red and black, and it's no coincidence that my leathers are already that colour too ;-)
    • Like Like x 1
  14. They have a tiny little bit of blue on them. Unacceptable. :p
  15. CTP to Steve buying a Daytona in <10 posts ;)
    • Funny Funny x 4
  16. I'll get the arrow exhaust with the blue tag ;-)
    • Winner Winner x 1
  17. I'm surprised it took that long, to be honest 69SIM69SIM. ;)

    But back to topic: just renewed my CTP with one 'at fault' claim (i.e. last year). Only added around $30 to the premium, so better than I was expecting.

    Also Steve, the Arrow has yellow on it.... new leather is still in order. I'll volunteer to help you get rid of the old ones...
  18. Sounds suspiciously like the reforms they tried to bring in about 4 years ago.

    If it's truelly no fault then what we should see is a flat rate for all vehicles. 2, 4 or 18 wheel, no matter where the vehicle is located.

    I'm betting it wont look like that.

    And of course now they build risk into registration as well so a royal screwing all round for motorcycles is what I see coming.
    • Agree Agree x 1
  19. 69SIM69SIM has a beautiful arrow pipe on his v strom with a blue tag. If I'm throwing money about for a 675R I'll throw money at a blue tag on the arrow ;-)
  20. They may very well cut the cost of CTPs, but they'll make it up somewhere else, like increasing rego! Nothing is ever really 'cut'. In the end, we will still pay up elsewhere.