From The Canberra Times
The annual cost of ACT compulsory third-party insurance will rise by $13 from July 1.
The increase will take the cost of third-party insurance for private motor vehicles to $390.80 a year.
NRMA Insurance is the only company which provides compulsory third-party insurance in the ACT and yesterday defended the increase which it claimed was significantly lower than the 5.5 per cent increase in average weekly earnings. When did that happen? My f*cking pay hasn't gone up 5.5%.
The company said the rise kept pace with inflation and compared favourably with other types of insurance.
NRMA Insurance ACT manager Phil Newton said Canberra residents enjoyed one of the most generous compulsory third-party insurance schemes in Australia. ''The modest $13 price increase reflects the increases in the cost claims for injuries, partly offset by the lower incidence of accidents,'' he said. ''For this price NRMA Insurance, the Government, and the community at large gets a stable compulsory insurance scheme, a raft of road safety measures and a scheme widely liked by Canberra residents.''
Urban Services Minister Bill Wood said the increase seemed reasonable in the circumstances. *cough* bullsh*t. He doesn't have to pay it, he gets a free car with free rego, free insurance and free petrol so why should he care?
The ACT compulsory third party scheme is based on common law.
Since the Government Insurance Office of NSW withdrew some years ago, NRMA Insurance has been the only provider.
The NSW scheme is statutory and involves about six insurance companies.
A spokesman for NRMA Insurance said the cost in NSW varied according to the age and location of each person.
The NSW scheme included some capped benefits.