Queenslanders continue to enjoy a stable, fair and affordable CTP insurance scheme. 

Queensland beach view from carAffordability front and centre 

Compulsory third-party (CTP) insurance premiums remain the most affordable in mainland Australia at a time when cost of living is front of mind for Queenslanders. Premiums remained unchanged from July 2023 to June 2024 thanks to the Motor Accident Insurance Commission’s (MAIC) sustained focus on affordability. RACQ’s decision in October 2023 to stop providing CTP insurance had no adverse effect on premiums. We continue to collaborate with scheme stakeholders on best-practice claims management practices and encourage all stakeholders to play a role in keeping premiums affordable and the current scheme viable. 

Adapting to industry changes 

Over the past six months, MAIC and the Department of Transport and Main Roads enacted urgent changes to facilitate RACQ’s exit from the scheme. This involved establishing project teams to address changes to vehicle registration systems, processes and customer communications. Over half of RACQ’s 1.3 million customers have been successfully switched to a new insurer. This ensured that Queenslanders continued to benefit from the important protection and peace of mind CTP insurance provides. This collaborative effort will continue through to September 2024 for policyholders who purchased a 12-month CTP insurance policy with RACQ before its departure. 

Continuous improvement 

In 2023, we set out to review the CTP insurance scheme to ensure its continued success. With RACQ departing the scheme for commercial reasons, the review was placed on hold to facilitate this urgent transition. While we have successfully concluded this critical work, we now need to understand any potential effects of RACQ’s exit on the dynamics of scheme competition before we consider progressing the review. The remaining insurers will each receive one third of the RACQ portfolio (approximately 9 per cent market share) which creates opportunities for improved scale efficiencies and performance over time. 

Fair and timely access 

Queenslanders injured in motor vehicle crashes through no fault of their own continue to receive fair and timely access to treatment, rehabilitation and compensation. We continue to work with scheme stakeholders to identify and address aspects of the claim processes where delays can occur, to ensure that claimants experience a smooth and efficient claim process.  

Safeguarding from scamming 

Following legislative reform in 2019, claim farming or ‘car crash scamming’ continues to be minimised through MAIC’s effective investigation and enforcement. After securing Australia’s first claim farming prosecution last year, our continued focus will preserve the affordability of CTP premiums and protect Queenslanders from claim farmers’ aggressive tactics and privacy breaches. 

As the scheme regulator, we look forward to working with valued stakeholders in 2024 to continue delivering a stable, fair and affordable CTP insurance scheme for Queensland.  


Last modified 31 January 2024


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