Monday, 14 March 2016
MEMBER for Northern Tablelands Adam Marshall has welcomed the NSW Government’s announcement of a major review of the NSW Compulsory Third Party (CTP) Green Slip Scheme and is encouraging local motorists to have their say.
Mr Marshall said the review was being undertaken to drive down costs for motorists and better protect those seriously injured in road accidents.
He said the current scheme, which has been operating since 1999, was now in urgent need of reform to ensure it remains affordable for vehicle owners and delivers the appropriate benefits to injured people in a timely manner.
“Green Slip prices in NSW are now the highest in the country with an average of $630 for a standard passenger vehicle – it’s a ridiculous situation that cannot continue,” Mr Marshall said.
“We have seen a 70 per cent rise in premiums since 2008 and without reform, we are likely to see further significant price rises in coming years.
“I receive complaints from locals on a weekly basis about these CTP costs. It is a major hit on the family budget every year, especially in our region where it’s common for households to have multiple vehicles.
“Apart from being expensive, the scheme is also very inefficient with only 45 per cent of the premiums collected being paid to injured people as benefits and some claims taking over five years to resolve.
“We need to ensure more of the money collected through Green Slip Premiums ends up where it was intended – in the hands of the most seriously injured road users.”
The NSW Government has released a CTP Options paper and is seeking public comment. The Options Paper is available at www.sira.nsw.gov.au
The review focuses on achieving four key objectives:
- Increasing the proportion of benefits to seriously injured road users;
- Reducing the time it takes to resolve a claim;
- Reducing opportunities for claims fraud; and
- Lowering Green Slip prices
“I encourage residents to visit www.sira.nsw.gov.au, to have their say on how we can create a CTP scheme that is more efficient, fairer and sustainable,” Mr Marshall said.
The CTP Options Paper is open for feedback until 22 April. No decision has been made regarding what option will be adopted.