DRIVE NOW August 2021
*** SCROLL DOWN TO SELECT ALTERNATIVE MAGAZINE EDITIONS *** Australia's only Magazine for the Commercial Passenger Transport Industry. News and views for Drivers, Owners and Operators of Taxi, Hire Car, Limousine, Ride Share, Booked Hire Vehicles, Rank and Hail Cars.
*** SCROLL DOWN TO SELECT ALTERNATIVE MAGAZINE EDITIONS ***
Australia's only Magazine for the Commercial Passenger Transport Industry. News and views for Drivers, Owners and Operators of Taxi, Hire Car, Limousine, Ride Share, Booked Hire Vehicles, Rank and Hail Cars.
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QLD News<br />
CTP costs<br />
changing<br />
TO BE SIMILAR FOR TAXIS, RIDE<br />
BOOKING & HIRE VEHICLES<br />
The way Compulsory Third Party (CTP) insurance premiums are<br />
determined in QLD for classes 3, 4 and 26 is being adjusted.<br />
Recent years have seen changes to the personalised transport<br />
industry, including the introduction of a new CTP insurance<br />
class and differences in the way that operators work and lease<br />
vehicles.<br />
In response, Motor Accident Insurance Commission (MAIC) is<br />
aligning premiums paid by personalised transport operators<br />
who deliver similar services.<br />
From 1 October <strong>2021</strong>, vehicles registered in class 3 - taxis, class<br />
- 4 hire vehicles and class 26 - ride-booking vehicles will be<br />
considered a single group and will pay the same base insurer<br />
premium charged by insurers (excluding the CTP levies and<br />
administration fee).<br />
This change aims to unify CTP insurance premiums payable by<br />
personalised transport operators who deliver similar services,<br />
while ensuring that premiums still cover the cost of claims.<br />
The current vehicle classes will be retained for registration<br />
purposes, but class 3, 4 and 26 will be treated as a single cohort<br />
for calculating CTP insurance premiums.<br />
From 1 July 2022, the levies and fee that make up the rest of the<br />
total premium will change to reflect these new arrangements.<br />
This will mean that the total cost of CTP insurance for<br />
personalised transport vehicles in these three vehicle classes<br />
will be the same from 1 July 2022 onwards.<br />
“<br />
The regulator of CTP premiums in QLD,<br />
MAIC, announced last week that from 1 July<br />
2022, CTP premiums for rideshare, rental<br />
cars and taxis would all be the same price.<br />
Whilst plenty are taking credit, the reality<br />
is the decision was based on claims, trends<br />
and analysis that have determined that<br />
rideshare vehicles are taxis and therefore<br />
carry exactly the same risk.<br />
From 1 September <strong>2021</strong>, sedan taxi<br />
registration in QLD will fall $2,200 and the<br />
other two will experience increases of a<br />
couple hundred dollars before moving to<br />
complete harmonisation next year.<br />
I believe this will be the first truly level<br />
playing field for CTP in Australia.<br />
– John Lobwein<br />
Chief Operating Officer, Black & White Cabs<br />
30 <strong>August</strong> <strong>2021</strong>
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