Page 2307 - Week 06 - Thursday, 10 May 2012

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Thursday, 10 May 2012

MR SPEAKER (Mr Rattenbury) took the chair at 10 am and asked members to stand in silence and pray or reflect on their responsibilities to the people of the Australian Capital Territory.

Executive business—precedence

Motion (by Mr Corbell) negatived:

That executive business be called on.

Public Accounts—Standing Committee

Report 22

MS LE COUTEUR (Molonglo) (10.02): I present the following report:

Public Accounts—Standing Committee—Report 22—Inquiry into the Road Transport (Third-Party Insurance) Amendment Bill 2011, dated 24 April 2012, together with a copy of the extracts of the relevant minutes of proceedings.

I move:

That the report be noted.

I am pleased to present this report of the public accounts committee inquiry into the Road Transport (Third-Party Insurance) Amendment Bill 2011. The first thing I would like to do, of course, is to thank my fellow committee members, Mr Smyth and Mr Hargreaves, and very much thank the committee’s secretary, Dr Andrea Cullen. Without her hard work there is no way we could possibly have done this report.

Third-party insurance is a complex and important issue, and I have certainly learnt a lot about it during the course of the inquiry. The bill, if fully or partly passed by the Assembly, will bring a range of changes to the compulsory third-party scheme in the ACT. At the time the bill was referred to the committee for inquiry, the then Treasurer emphasised that this was very significant law reform, and she was right. The committee acknowledges that no insurance scheme is perfect and that a scheme design will inevitably involve trade-offs amongst a range of criteria. A critical consideration of CTP insurance schemes is that they need to be affordable and cost effective, and these goals are increasingly being applied to common-law regimes.

Additionally, the concept of third-party insurance is itself complex, and how it works is also determined by the wider system in which it operates. Any strategies to improve its performance must take into account the wider system in which it operates, including the wider public policy context. The committee has not attempted to produce a definitive work on CTP insurance schemes and designs. Instead the committee has produced a report which examines several key themes arising in the context of the bill and the committee’s widened terms of reference which became apparent during the course of the inquiry based on evidence received.

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