Suncorp pushes for no-fault CTP scheme

Suncorp pushes for no-fault CTP scheme | Insurance Business

Suncorp pushes for no-fault CTP scheme

Suncorp, Queensland’s largest compulsory third-party insurance (CTP) provider, has presented to the ReThink CTP citizen jury to push for reforms to ensure all those injured in a motor vehicle are covered.

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The citizens’ jury is a group of 50 Queenslanders who would investigate and review if the state’s current CTP scheme is working.

“We need to address the unfairness and inequities that sees 40% of Queenslanders involved in a motor-vehicle accident not eligible to make a CTP claim,” Wilkinson said. “Every day our team works to support injured Queensland motorists, so we know firsthand the positive impact a ‘no-fault’ rule would have. If you are injured, we also back the introduction of a set of defined benefits, so people will have access to early and appropriate treatment.”  

Suncorp said that under a no-fault, defined benefits scheme, the focus is on rehabilitation, not confrontation and lump sum payments for small injuries, while providing care, treatment, and lost income as required.

Suncorp also called for full transparency of all scheme costs. 

“Queenslanders pay their CTP premiums every year and should know where their money goes,” Wilkinson said. “Currently only insurers are required to show a full costs breakdown, but we believe this should be expanded to all parties involved, including lawyers.”