How are CTP prices calculated?
The Motor Accidents Authority (MAA) regulates the CTP market and has issued seven licenses to insurers for the sale of CTP in NSW. CTP insurance is defined by the Motor Accidents Compensation Act 1999 and, as such, coverage provided by all insurers is essentially the same although some insurers may offer At-Fault Driver Protection as an additional benefit to their policy holders. The MAA prescribes a number of factors that all insurers must apply when setting their premiums. Insurers can supplement these factors with additional criteria that are deemed appropriate to determining appropriate premium levels.
