INSURANCE AUSTRALIA GROUP LIMITED IAG Chief Executive of Australian Consumer Division Anthony Justice said he looked forward to consulting further with the Government on the framework and also on CTP reform which will create a fairer and more affordable CTP scheme for NSW motorists and injured parties.
'Despite falling casualty rates and safer road awareness campaigns, the number of CTP claims in NSW increased by 39 per cent between 2008 and 2014 and we have seen a 30 per cent increase in just 12 months.
'What we know is that CTP fraud, which includes exaggerated claims and staged accidents, has significantly contributed to the increase in CTP claims and ultimately it's NSW drivers that pay, through higher insurance premiums,' Mr Justice said.
IAG - Insurance Australia Group Limited published this content on 17 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 June 2016 04:14:07 UTC.
Original documenthttp://www.iag.com.au/iag-welcomes-investment-tackle-ctp-fraud
Public permalinkhttp://www.publicnow.com/view/C479FE796C9278736E7F6B11B480714A4894A9D6
