NSW BUDGET: $1.2 MILLION TO TARGET CTP FRAUD

NSW BUDGET: $1.2 MILLION TO TARGET CTP FRAUD

The NSW Government will spend an extra $1.2 million targeting green slip fraud as part of a suite of reforms that aim to bring green slip prices down.

The State Insurance Regulatory Authority will use the funding, to be included in the June 21 State Budget, to identify suspicious activity and bring fraudsters to justice.

Minister for Innovation and Better Regulation Victor Dominello said green slip fraud was costing all motorists through higher premiums and the NSW Government was committed to putting a stop to it.

“Green slip premiums for a Sydney metropolitan passenger vehicle range from $537 to $886 and fraud is contributing as much as $75 per green slip. The NSW Government is determined to make the scheme more affordable for drivers,” he said.

“The funding will be used to implement a fraud prevention framework that aims to prevent, detect and respond to fraudulent and unmeritorious claims.

“People doing the right thing are being burnt and are paying more because of fraudsters, and the government is determined to crack down on this illegal practice.”

Treasurer Gladys Berejiklian said: “This funding will help boost the integrity of the CTP system and will put downward pressure on prices for motorists.”

Fraud can include exaggerated claims, staged accidents, lying about a claim or providing false or misleading information to an insurer, doctor, health professional or lawyer.

Dedicated staff and state-of-the-art data analytics will be utilised to detect fraud as well as assist in the investigation and prosecution of those caught.

In March, the NSW Government established a Green Slip Fraud Taskforce comprised of representatives from across government, the legal, health and insurance sectors to make recommendations on strategies to deter, detect and respond to CTP Fraud. Further information is available at www.sira.nsw.gov.au

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