Compulsory Third Party Insurance Reform: ACT Confirmed, On-Hold In NSW

Both the Australian Capital Territory and New South Wales have committed to reforming their respective Compulsory Third Party (CTP) insurance schemes.

Drivers in both jurisdictions currently pay well above the national average.

While reforms have come into effect in the ACT,  the NSW government has put its reform agenda on-hold due to public fears of sky-rocketing CTP premiums and concerns of reduced compensation for victims.

Acting Finance Minister Andrew Constance conceded in June that the Government there does not have the numbers in the Legislative Council to proceed with the legislation.

He has committed to more consultation and "more work to discuss the reform". The bill is now expected to be debated in the Upper House in August.