AUSTRALIAN CAPITAL TERRITORY

AMENDMENTS OF THE MOTOR VEHICLE (THIRD PARTY INSURANCE) REGULATIONS

EXPLANATORY MEMORANDUM

No. 11 of 1954

	Under this amendment, the rates of Third Party Insurance premiums will be increased.  The increases which are in some cases 20%, and in the 33⅓%, above the present rates, are considered to be necessary to enable insurers to place this class of business on a more satisfactory basis, as losses have been made consistently since the introduction of third party insurance.  They have been recommended by the Third Party Premiums Advisory Committee, consisting of representatives of private motorists, commercial vehicle users, the insurers, and the Department of the Interior.

	The proposed rates are lower than those applying in the metropolitan areas of New South Wales and Victoria, although they will be higher than the States’ country rates.