NEW BETTER REGULATION MINISTER MUST RULE OUT CTP CHANGES FAVOURING INSURANCE LOBBY
The new Minister for Innovation and Better Regulation becomes the 6th Minister in 6 years to take on thorny issues like green slip and strata reform.
A trail of former Ministers have been left behind on the compulsory third party reform – all brought unstuck by seeking radical changes that would have left innocent victims of motor vehicle accidents in favour of billions of dollars in insurer profit.
Labor believes green slip prices can come down without sacrificing the long established rights of innocent victims.
This can be done by tackling the super profits of the big insurers, cracking down on dodgy lawyers and tackling fraud.
Minister Dominello had left a number of other critical reforms in limbo - including controversial reforms to strata where developers could forcibly buy people’s homes.
New laws came into play late last year that allow strata schemes to be terminated without the unanimous agreement of all home owners.
Labor’s Shadow Minister for Better Regulation, Yasmin Catley, called on the Minister to review the Government’s approach to CTP and strata reform.
Quotes attributable to Shadow Minister for Innovation and Better Regulation, Yasmin Catley MP
“Labor believes we can reduce premiums by tackling fraud, weed out dodgy lawyers, and address the super profits of insurers – who have reaped 18 cents out of every dollar paid in premiums as super profits.
“My fear is that the new minister, like the former one, is beholden to factional powerbrokers like Michael Photios, who also lobbies for big insurers.
“Similarly, the new Minister should review radical provisions in the Strata Schemes legislation which allow developers to acquire your home without your consent or an agreed price.