On Friday 29 September 2017, the Motor Accident Insurance Commission’s (MAIC) 2016-17 Annual Report was tabled by the Treasurer in Queensland Parliament.
MAIC’s initiatives in 2016-17 have been primarily driven by the recommendations made in the 2016 CTP Scheme review. These include addressing persistent high insurer profits, improve consumer awareness of choice of CTP insurer and strengthening insurer performance benchmarking and reporting. Additionally, MAIC made concerted efforts to identify and eliminate claims fraud and claim farming from the Queensland CTP scheme.
The Nominal Defendant, by increasing its focus on claims officer mentorship, managed more claims wholly in-house. This improved the efficiency by which claims resolved and ensured the Nominal Defendant continued to exceed its objective of having 50% of claims resolved within two years of compliance.
In accordance with legislative requirements, the Annual Report includes the audited financial statements for the Motor Accident Insurance Commission and the Nominal Defendant.
If you would like to read the Annual Report in its entirety, please click here.