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Battle of $77 green slip lift

There is an interesting article in today's The Daily Telegraph by Andrew Clennell, titled "Battle of $77 green slip lift". The article says that the State Government, through the Motor Accidents Authority (MAA), is pushing back on requests by insurers for increased CTP greenslip premiums.

Under the current legislation, the MAA may reject a premium proposed by an insurer if, in its opinion, the premium will not fund liabilities under the scheme, the premium is excessive or the premium does not comply with guidelines issued by the MAA.

If the MAA and the insurer are not able to reach agreement on the premium, the matter may be resolved by an arbitrator agreed on by the parties, or in the absence of agreement on an arbitrator, by the Independent Pricing and Regulatory Tribunal (IPART).