Top takeaways from quarter two 2020

Get the latest data on Queensland’s CTP insurance scheme through our Quarter 2 2020 CTP Scheme Insights report.

It shows how scheme stakeholders rallied together to continue supporting Queensland motorists and claimants during the COVID-19 pandemic.

Through ongoing collaboration with insurers and lawyers, we supported a swift transition to digital signatures, telehealth, and virtual settlement conferences to keep claimants accessing treatment and getting their claims resolved.

CTP insurance premiums became even more affordable, representing just 21.8 per cent of average weekly earnings (down from 22.3 per cent in the last quarter). Queenslanders continued to access the important financial protection that CTP insurance offers at the second-lowest price in the country.

Fewer new claims were lodged as less Queenslanders travelled on the roads and legislative reforms to stop car crash scamming came into effect. Less vehicles were registered from March to May, but this bounced back in June as road usage increased.

Independent reports by actuarial experts Taylor Fry showed that scheme efficiency improved so that more of CTP insurance premiums went towards injured people and less towards delivery costs.

The scheme remained strong throughout the turbulence of COVID-19 to continue providing Queenslanders with one of the most stable and affordable CTP insurance schemes in Australia.

Learn more in our CTP Scheme Insights report for Quarter 2 2020.

Last modified 10 August 2020

Andi
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