The Law Society on CTP reform

cranky said :

…NRMA ACT $626.30
NRMA NSW $531.81
AAMI NSW $378.02

Actually you prompted me to do the same:
– Car – NRMA ACT (as of 1/9) was $578.70, NRMA NSW was $411.07 and AAMI NSW was $373.61
– Bike NRMA ACT (as of 1/9) was $105.70, NRMA NSW was $292.51 and AAMI NSW was $290.63, Swann NSW $144

Under the NSW system I could shop around and be about $150 better off (provided I never needed compensation) but I was surprised the bike was so much more expensive.

In a post regarding ACT patients being treated in the QBN Hospital, the CM was quoted as saying

“People in the capital region don’t care about lines on the map, they just want their surgery done,” the Chief Minister said.

Pity the same dosn’t apply to CTP insurance.

So our learned friends have decided that reducing the amounts payable to injured parties, and by applying a more formulaic method of awarding damages, (thus, one assumes, reducing legal fees), the insurance companies will simply continue to charge their current premiums?

‘Promote rehabilitation’ – In a case I am aware of, it was only after 10 years of fighting for a (small) payout that the injured party could afford the rehabilitation. It took 10 years because of, you guessed it, solicitors milking it for all it was worth.

Out of interest, my rego renewal having arrived today, I decided to get on-line quotes for my vehicle, but lying and saying it was garaged in Queanbeyan. All other details were correct (vehicle, driver, use, etc)

NRMA ACT $626.30
NRMA NSW $531.81
AAMI NSW $378.02

If the Law Society consider a 65% diference in premium as ‘about the same’, they should perhaps return to the real world.

Self serving claptrap. Only interest is in maintaining their inflated incomes.