The Great NSW Greenslip Ripoff

This affects me only obliquely as CTP insurance in the ACT is provided
by the government who buy "bulk" insurance from the NRMA, NSW's chief
CTP extortionist...

....basically, is it true that people in NSW are seeing their greenslip
renewals coming in at 50% more than last year's premiums, and, if so, is
the MCCoNSW working on anything to try to counter it?

 

In aus.motorcycles on Fri, 20 Oct 2006 17:23:19 +1000

THe picture is murky. Some insurers are saying "there's a levy", some
are quoting various business pressures, some are keeping quiet.

I'll know a bit more I hope after the next meeting.

The MCC has a good working relationship with the MAA (Mtor Accidents
Authority, which oversees the greenslip scheme) but so far the very
obvious problems and maths the MCC has put in front of them hasn't
worked. I don't know what the current situation is.

Zebee

 

what a rip off





Commencement Date: 19/11/2006
Privately owned Motorcycle over 300cc, 2003 model
Engine Capacity: 650 cc
Vehicle normally garaged in 2196 (Metropolitan Region)
Registered for private use
Current CTP policy with NRMA
Comprehensive insurance with QBE for 2 to 4 years with a
maximum no claim discount of 60% or more.
No insurance claims in the last 5 years.
No more than 2 moving traffic offences in the last 3 years
Owner aged 40 years
6 licence demerit points
Male youngest driver aged 40 years
Youngest driver licensed in 1998
Youngest driver with 0 At Fault claims/accidents in last 3
years.



Prices
Insurer Price (incl. GST) Phone Web Site
AAMI $678.00 132 244 On-line quote
Allianz $444.00 1300 137 664
CIC-Allianz $453.00 1300 360 340
GIO $368.97 131 010 On-line quote
NRMA $547.9 132 132 On-line quote
QBE $395.00 1300 791 874
Zurich $679.00 1800 811 099



Thank you for using the green slip calculator - our free 'one
stop' service designed to find the best price for you.

 

Current state of play as far as the MCC is concerned:

The problem is (surprise surprise) that the methodology used rips off
bikes.

For example, the money paid in a crash is counted against the pool the
victim belongs to, not the pool of the one who hit them. So they say
"bikers cost a lot".

But... the money claimed against bike policies, pillions included,
is low even if you say "lets use high numbers and add 10% for luck"
and seems to be a hell of a lot less than is being paid in premiums.

Also, the car is the "norm". Any car. A 4WD that causes more injuries
in those it hits is the same as a little Daihatsu. And less than an
over 300cc bike.

The MCC has been asking for data from the MAA (Motor Accidents Authority,
the govt body that controls greenslips) for years and not getting it.
They are preparing a submission to the parliamentary committee that
oversees the MAA to try and get action.

For example some data that's wanted is the percentage of each pool that
goes to
- medical costs
- legal costs
- admin costs
- profit

There's a definite suspicion that the motorcycle pool has a small
chunk in "medical" and a really big one in "profit".

There is also the little detail that the MAA is supposed to make sure
that premiums charged as "fair and reasonable". Are they doing this?
If they are, how come the huge discrepancy in quotes? If they are not,
why not?

The MCC has engaged an actuary to look at the crash and payout data
that is available to help with the submission. The ripoff has to be
shown in exquisite mathematical black and white.

This is fighting a govt dept *and* big business with money. It won't
be easy. It is happening, but don't expect anything like instant
gratification.


Zebee

 

did you take any notice of your previous post that GIO
was by far the cheapest of all the insurers

The main prob is people just pay whatever they get in the mail and dont shop
around
using the website or the phone

good idea
even more so if the reality is of the perception that there isnt a whole lot
of claims of at fault of the motorcyclists

 

Howabout we as bikeriders boycott 1 insurer, if there is big profit in ctp
for bikers then boycott the GIO or the NRMA out of the entire market and
lets see them cut premiums.

Or we as bikers offer our own ctp insurance through our own organization,
this could be underwritten by an overseas company.

**** big business and especially **** the governments.

Killer

 

In aus.motorcycles on Sat, 21 Oct 2006 21:05:27 +1000

Well, start doing the research.

You'll have to get a contract from the MAA, as you can't offer legal
greenslips without, and then start hunting down an insurer.

best check they'll actually *pay*, I seem to recall a scandal a few
years ago with a foreign firm selling fully comp who were a bit light
on in the payment stakes....


Zebee

 

Well I picked GIO because they are a big Australia wide company who would
suffer if they lost all motorbike insurance in Australia. Other insurers
would take notice and make sure that it didn't happen to them.

I think people do shop around, with my rego was an RTA letter telling me to
shop around and even directed me to the green slip website.

My proposal to have a motorcycle industry supply green slips is based on:

CTP insurance doesn't cover your bike or yourself (so you can't right off
you bike and get a new one)
Motorbikes cause less damage than cars,(less payout to 3rd party property in
the event of rider at fault crash)
Motorbikes can only have one passenger unlike cars that can have up to 8
(less payout to 3rd party passengers in the event of rider at fault crash)

The November issue of Two Wheels states that 61% of multi vehicle motorcycle
crashes are the fault of the other driver. Car CTP insurers would be paying
more out insurance claims than Bike rider insurers.

It makes perfect sense that riders self insure.

killer

 

Yes, it is... but is it easier than posting shit on Usenet?

You know, your tone, lack of wit and reason were a lot less
understandable until, earlier in this thread, by posting that you sought
CTP quotes for a 40-year-old, you made it appearent that you're not a
17-year-old boy.

 

Well its easy to boycott one insurance company!

Well if its all too hard lets just pay the insurance companies whatever they
want.

Bend over and take it up the ass like all good tax paying citizens. John
Howard is God!

Killer

 

i do , i boycott all of them except the cheapest one

if they were all the same price then boycotting 1 of them would make
some sense

no i dont , i use the cheapest one

No doubt your AAMI and similar charge high premiums because there
is people paying them otherwise they wouldnt be charging them or they deem
you a high risk so price their premium in a way so that you do go elsewhere

gee now you are telling us you are Gay

 

So you voted for John Howard!

 

you don't have to be gay to take it up the ass, your not even gay if you
like taking up the ass.

 

In aus.motorcycles on Sat, 21 Oct 2006 21:55:23 +1000

You are the one wanting change.

So start it.

Work on getting others to agree with you, show them a credible
alternative.

If you turn up to an MCC meeting with the name of an insurer and a
plan, see if you can persuade people to agree with you.

Zebee

 

....where the alternative was Mark Latham?

regards,
CrazyCam

 

On the contrary, a large companies like GIO with a broad customer base
and a variety of income sources would barely notice the difference if
motorcyclists went elsewhere. If you wanted a company to suffer, you'd
pick on a 'motorcyclist only' insurer.

Nev..
'04 CBR1100XX

 

Who'd you vote for?

---
Cheers

PeterC [aka MildThing]
Most scientific discoveries are heralded by a tentative "Hmmm. That's funny..." instead of a jubilant "Eureka!"

'81 Yamaha Virago (XV) 750H (work in progress)
'01 Yamaha FJR1300

www.dmcsc.org.au
http://eladesom.com.au/ulysses/
# 37181

 

What has John Howard got to do with NEW Greenslips?
This has everything to do with the NSW government or is
that pill a bit too bitter?

 

Are you suggesting somehow the feds are suddenly impinged with the
state govco's failure to deal with and provide decent insurance ?
or maybe your a bitter and twisted know nothing ?

 

<chortle> You're a funny man Killer

JL