Motor Accident Insurance and Other Legislation Amendment Bill 2010

The objectives of the Bill are in part:

  • reduce delivery and acquisition costs and promote greater price competition within the CTP scheme so as to deliver premium savings to motor vehicle owners.
  • The Bill amends the Motor Accident Insurance Act 1994 (MAI Act) to cater for the State as the insurer of last resort in circumstances of a shortfall in private sector underwriting capacity. The Bill also makes a number of technical amendments to align with Queensland’s motor vehicle registration legislation, namely the Transport Operations (Road Use Management – Vehicle Registration) Regulation 1999 and the Transport Operations (Road Use Management – Vehicle Standards and Safety) Regulation 1999.

And further:

  •  the banning of commissions and inducements paid to third parties;
  • allowing an insurer, at the request of a CTP policyholder, to assign an inducement made to the policyholder as a financial donation to a charity (registered in Queensland) or a road safety research entity (as defined) but prohibiting any type of trailing payment; and
  • not allowing the cost of providing direct policyholder incentives to be charged against the CTP insurance scheme.

 

Brisbane Barrister – David Cormack

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