Page 6 of 11
|Tuesday, 04 March 2014|
Duncan Gay, Minister for Roads and Ports has announced that the NSW Government is going to introduce new legislation to allow lane filtering for motorbike riders.
The new law is expected to come into effect from 1 July 2014.Add a comment Read more...
|Thursday, 17 October 2013|
We have just launched a new version of our website, designed specifically for use on smartphones.
A lot of our visitors want to be able to check greenslip prices on the go. Now, you can do it. You can compare greenslip prices when you are on the train or bus, standing in the queue at the RTA, or anywhere you like.Add a comment Read more...
|Monday, 19 August 2013|
The NSW Government has announced today (19 August 2013) that it is withdrawing legislation for reform of the CTP greenslip scheme in NSW.
By withdrawing the legislation, the Government is effectively abandoning the current plan for reform of the scheme.
Andrew Constance, Minister for Finance and Services blamed the fact that Labor and the Greens would not support the legislation in the Upper House.
Minister Constance said “There is no doubt the current CTP scheme is broken and its disappointing Labor and the Greens would rather work against the Government than co-operate to reach a solution”.
The Government has been under pressure to stop ongoing increases in greenslip prices. Minister Constance argues that “the NSW Government’s legislation was designed to make the CTP scheme more affordable for motorists and fairer for accident victims”.
The Government has cited estimates by Ernst & Young* as evidence that prices would have decreased under the proposed new scheme, however there is concern that accident victims would have paid the price.
Ernst & Young estimated that average car greenslip prices in 2014 (excl GST) would have decreased by $97.00 from $571.00 under the current scheme to $474.00 under the proposed scheme. Ernst & Young also estimated that without reform, the current scheme cost will increase by about 10% in 2014.
Whilst benefits would be paid sooner, Lawyers and victims groups have argued that under the proposed scheme victims would have been disadvantaged by reduced legal representation and reduced compensation.
The next step for the Government is not clear. The status quo will likely result in higher greenslip prices. Higher greenslip prices will result in even greater pressure on the Government.
We will provide more information as it becomes available.
*Ernst & Young, “Estimated Cost Per Policy of the Proposed NSW Green Slip Scheme”, 29 July 2013.Add a comment
|Thursday, 08 August 2013|
The Motor Accidents Authority of NSW (MAA) has released estimates of greenslip prices under the proposed new CTP greenslip scheme.
The estimates are set out in an actuarial report by Ernst & Young (E&Y), “Estimated Cost Per Policy of the Proposed NSW Green Slip Scheme”, dated 29 July 2013.
Estimates for 2014 include the following:
1. Average Greenslip Cost under the proposed scheme down by $97.00, form $571.00 under the current scheme to $474.00 under the proposed scheme.
2. Average cost savings of around 15% per greenslip (excluding any reduction in the MCIS Levy) under the proposed scheme.
3. Without reforms the current scheme cost could increase by about 10%.
4. Scheme Affordability (Greenslip Cost as a proportion of Average Weekly Earnings) improved from 39% under the current scheme to 32% under the proposed scheme.
Estimates are for Class 1 vehicles (motor cars) and assume a mature scheme. Price estimates exclude GST.
The E&Y report provides estimates on the basis of the Motor Accidents Injuries Amendment Bill 2013, which sets out the detail of the proposed new scheme, as it currently stands. The Bill was introduced to parliament in May 2013. The government was not able to secure passage of the Bill through parliament and there has been considerable criticism from stakeholders. A roundtable was held on 24 July to discuss the Bill. As a result of the roundtable and ongoing consultation, there may be amendments to the Bill, particularly in the areas of benefits for children and legal representation. The E&Y estimates will be affected by any amendments to the Bill.
At the roundtable, participants were critical of the government for not having released the estimates, particularly as the estimates were a large part of the government’s justification for the reforms. Insurance Council CEO Robert Whelan said “We can’t guarantee the extent to which premiums will go down. The reason for that is we don’t have clarity around the claims position on this new scheme.”
In his Media Release of 31 July 2013 announcing the release of the estimates, Andrew Constance, Minister for Ageing & Disability Services said that he will continue to consult with stakeholders on their concerns and that he is “awaiting the advice from the CTP roundtable chair Paul McClintock and the steering committee, which is overseeing any further work needed to refine amendments to the Bill.”
At the roundtable, the Minister said that he wants the government's position on the reforms resolved by the end of August.
Add a comment
|Wednesday, 24 July 2013|
The proposed CTP roundtable was held on 24 July 2013, to discuss proposed reforms to the CTP greenslip scheme in NSW.
In his welcome, Minister for Ageing and Disability Services, Andrew Constance said that he wants the government's position on the reforms resolved by the end of August.
Chair for the day, Paul McClintock will prepare a report on the discussions for the Minister and the steering committee. The report will be published.
In his summing up, Mr McClintock identified the following issues and observations from the day:
We will provide information on the report as soon as it is available.Add a comment
Page 6 of 11