The review indicates there have been benefits from the legislative changes introduced in 2008.
There is some increased focus on treatment and there have been some downward pressures on premiums.
The review has been able to look at the less complex cases – those are the cases that have been settled in the first three years.
It is unlikely that such effects would continue to be seen once more complex claims are finalised.
The 2008 legislative changes were not designed to address claims inflation in relation to moderate to severe injury cases.
This report in effect indicates that while the 2008 changes have been beneficial, there is still more to be done if we are to have a sustainable and effective CTP system.
The legislative changes currently before the Legislative Assembly are designed to align the Territory’s CTP scheme more closely to other jurisdictions.
The benefits of the proposed reforms include the potential for a competitor to enter the market, which would likely lead to premium price competition, as well as curtailing claim cost inflation.
The benefits of the reforms in front of the Assembly would fall to all the households in the Territory.
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