This has been proposed by NSW Premier Barry O’Farrell and Minister for Finance and Services Greg Pearce who say that Compulsory
Third Party (CTP) insurance in NSW is the least affordable in Australia, and the NSW Motor Accidents Authority review has
recommended an overhaul.
Under proposed reforms to make the CTP insurance scheme fairer and more affordable, motorists could save about 15% on their
According to Mr O’Farrell:
“The NSW Government’s proposed green slip changes could reduce the cost of the average CTP premium by about 15 per cent and
ensure claimants receive benefits as soon as possible. These proposed changes will drive down costs by ensuring the system
is focused on those who are injured, not ambulance chasing lawyers. The current CTP scheme is expensive because of the time
it takes to settle compensation disputes often delayed by lengthy legal battles over who is at fault and who should pay.”
O’Farrell urges motorists and other stakeholders to review the plan and give feedback to the NSW Government.
Source: Barry O’Farrell MP, Premier of NSW, Media Release, Sunday 17 February 2013.