Treasurer Cameron Dick says the state government will review Queensland’s Compulsory Third Party (CTP) Insurance scheme for motor vehicles and look to the other states for ideas.

RACQ, Suncorp, Allianz, and QBE are currently involved in the scheme, and the government wants to keep it fair for Queensland motorists.

Press PLAY below to hear Neil Breen explain how the it works

Treasurer Cameron Dick says Queensland has one of the lowest CTP payments in the country, but admitted there was an ongoing challenge in terms of  the distribution of profits for the four insurers.

“We have to keep our scheme in Queensland affordable and sustainable,” he said.

“I want to make sure it’s fair and affordable for everyday Queenslanders, but it’s also got to be sustainable for the insurers.

“So it’s not about increasing premiums; that won’t happen out of this, it’s not about the compensation system; that won’t change out of this.

“I don’t want the scheme to have insurers leave the scheme.”

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