NSW: more on greenslips.

via MCC list, so the "I" is not Zebee.

Note that "blame the victim" is going to be the centrepiece of this,
get onto your polly now!

Zebee

==============

I came across a "NSW CTP Scheme and Lifetime Care and Support Scheme
Update" presented to an Institute of Actuaries of Australia seminar in
April 2007.

They state that the amount of the levy "is designed to approximate
risk of catastrophic injury from that class" (no argument here) and
then go on to state that the levy amount required for motorcycles is
"significantly higher". Perhaps they missed the point that the risk
being insured is for injuries to **third** parties?? They even bundle
motorcycles in with buses in this higher risk end of the scale. WTF?

Perhaps the risk of injury to pillions really is significant?? In some
ways I could accept that if pillion injuries were a significant cost for
motorcycles as a category then there is some justification for higher
levies. After all if we, as riders, cause an accident that seriously
injures a pillion then it would only be fair that we shoulder that
cost. It would be interesting to see some stats for pillion involvement
in accidents. If pillion involvement is insignificant then it is starting
to smell a lot like we are being expected to subsidise car levies because
it's our "fault" that we are not in a cage.

The immediate concern is the statement that "the full amount of levy
required from this class [motorcycles] is being phased in over the next
3-5 years". So the pain has just begun ...

Cheers,

Peter

http://www.actuaries.asn.au/IAA/upload/public/1.a_ACS07_papers_Bowen_NSW CTP and LTCS Scheme.pdf

LTCS Levy The scheme is funded through a levy on CTP policies. The amount
of the levy is set to produce income consistent with the liability
valuation, currently around $280 million per year. The amount of
the levy varies by class and zone and is designed to approximate risk
of catastrophic injury from that class. For most classes this is very
similar to the risk relativity for third party cover but for some classes,
particularly motorcycles and buses the levy amount required is higher,
and in the case of large motorcycles significantly higher. The full
amount of levy required from this class is being phased in over the
next 3-5 years. A small levy was included from 1 October to cover the
cost of the scheme for children and the full levy is applicable to all
policies incepting after 1 April 2007. The MAA expected the impact of
the levy to be an average increase in the amount paid by motorists of
around $20 per policy. In fact because of the high level of competition
at present much of this has been absorbed by insurers.

 

My apologies for delay in this response.. have not been in here for a
whole.

I agree with you Zeebee.. I was arguing the point some time back that
if greenslips only cover the not at fault driver/riders injuries, then
why as a motorbike rider with a 180kg bike am I paying more for a
greenslip than t 2 ton Landcruiser?

If I hit a landcruiser, how much dmage will I do to the passengers? If
a landcruiser hits me (well, it was a pajero last time), how much
injury will it cause to me and/or my pillion?

So who is more prone to causing damage to the other party? Which is
what greenslips cover.... 4WD's should be paying through the nose!!
Why are we propping up the whole system?

Every time I have asked an insurance company, they all baulk away and
can't answer it...

 

So under NSW logic, pedistrians and cyclist should be paying higher
levies as well - cause they are rather expensive to hit with w 2 ton
car?

 

In aus.motorcycles on Thu, 27 Sep 2007 16:20:27 -0700

If they were paying them now, then yes they would.

Zebee

 

I hit a Duck the other day in my car - can anyone tell me how much it's
CTP will be going up?

--

Stan Gifford
Current: 06 Triumph Speedmaster
Prev: 94 Ultra classic.
Before that: 99-FXD Superglide

Remove my strides to email me
<Witty comment here>