A review of the Motor Accidents Authority (MAA) was released this week and some parties are not happy with the findings.
The NSW Parliamentary Law and Justice Standing Committee released its eleventh review into the MAA and the Motor Accidents Council (MAC) on Tuesday. A copy of the report is available here.
Amongst other things, the report found that for the last five years there is a gap between the profit insurance companies project for the purpose of setting greenslip premiums and the profit they actually make.
The NSW Bar Association says that this represented a €œfundamental flaw€ in the greenslip scheme in NSW and, along with the NSW Greens, has called for an overhaul of the scheme.
The Insurance Council of Australia argues that the higher profits result from fewer claims on the scheme.