Greenslip prices in NSW have climbed more than 70% in the last 7 years and by over $40, or 8%, in 2015. The NSW government says fraudulent CTP claims are part of the problem. So alarming is the trend, it has established a taskforce to investigate fraud and a fraud hotline to encourage people to come forward and share information.
Minister for Innovation and Better Regulation, Victor Dominello, says the average greenslip price for a car in Sydney is now more than $600. This is more than 34% of average weekly earnings compared to 28% in 2007.
South Australian (SA) motorists will from 1 July 2016 get compulsory third party (CTP) vehicle insurance from four private CTP insurers, rather than the Motor Accident Commission (MAC).
From 1 July 2016, four private insurers will provide CTP insurance: