The Motor Accident Insurance Commission is responsible for the ongoing management of the CTP motor vehicle insurance scheme in Queensland. Established under the Motor Accident Insurance Act 1994, the Commission commenced operations on 1 September 1994 as a statutory body reporting to the State Treasurer. The chief executive of the Commission is the Insurance Commissioner who, in this capacity, is also the Nominal Defendant.
SchemeDescription
Since 1936, Queensland has operated a common law fault based compulsory third party motor vehicle insurance scheme. The scheme provides motor vehicle owners with a policy of insurance which covers their unlimited liability for personal injury caused by, through or in connection with the use of the insured motor vehicle anywhere in Australia. For those injured in motor accidents, the scheme provides access to the common law where the injured party can establish negligence against an owner or driver.
Funding
The Motor Accident Insurance Commission is funded by a statutory levy within the Compulsory Third Party premium. From 1 July 2005 the levy was set at $1.55 per vehicle. In 2005-2006 the levy produced income of $4.757 million. The Commission also has available the interest earned on investment of the Motor Accident Insurance Fund and revenue from compliance fines. These amounts, combined with a small surplus from the statutory levy, fund the Commission's research initiatives.
Key Activities
The primary activities of the Commission cover:
- licensing and supervising Queensland compulsory third party motor vehicle insurers;
- monitoring the management of claims by insurers under the statutory insurance scheme and, in particular, the insurers compliance with their obligations;
- administering funding programs to minimise the effects of motor vehicle accidents through undertaking research and education;
- fix for each class of CTP Insurance the range within which an insurer's premium must fall;
- recommend the levies and the administration fee payable under this Act; and
- developing and maintaining a claims register and statistical database for the purpose of providing management information.
For further information on the Motor Accident Insurance Commission contact should be made by either writing to:
Insurance Commissioner
Motor Accident Insurance Commission
GPO Box 1083
BRISBANE QLD 4001
AUSTRALIA
or by telephoning the Administration Secretary on +61 7 3227 8088
