28th Oct 2020
Higher rates of decline associated with the ADL definition in TPD insurance is not 'unfair'.
22nd Oct 2020
The various definitions of TPD insurance and the inconsistencies within TPD insurance policies.
Changes to compensation schemes can sometimes threaten to undermine individuals’ access to adequate compensation and control over their own lives.
Save Queensland’s CTP scheme
However, some Queensland insurers, namely RACQ and Suncorp, want to strip rights from Queensland’s CTP scheme, transforming it into a bare bones, 'no-fault' scheme similar to the scheme that operates in New South Wales.
Changing Queensland’s CTP scheme to a no-fault scheme will mean higher prices for all drivers, less compensation for injured motorists and more profits for big insurance companies like RACQ and Suncorp.
In every state in mainland Australia where no-fault schemes exist, drivers pay more. For example, in NSW premiums are $533.38, compared to Queensland where premiums cost $359.20
And despite costing more for motorists, a no-fault scheme like that in NSW reduces the compensation to people hurt in accidents and requires injured people to prove their injury every six months. For some injured people that means dealing with an insurer all of their lives — all while paying premiums almost double what we pay in Queensland.
Queensland’s CTP scheme has:
Members of the Australian Lawyers Alliance (ALA) regularly represent those who have suffered injury on the roads. The ALA has been a frequent contributor to parliamentary inquiries, including on the NSW Lifetime Care and Support Scheme, the Transport Accidents Commission (TAC) in Victoria and compulsory third party (CTP) schemes nationally.
View all our CTP-related submissions here.