Allianz welcomes introduction of competition to South Australia’s CTP scheme

Allianz welcomes introduction of competition to South Australia’s CTP scheme

7 May 2015

Allianz welcomes the announcement by the South Australian Treasurer, Tom Koutsantonis, that the State’s Compulsory Third Party (CTP) motor accident scheme will be opened up to competition and private underwriting by insurers from 1 July 2016.

Niran Peiris, Allianz’s Managing Director, said, “the introduction of competition in the provision of CTP insurance in the South Australian motor accident scheme represents a significant reform of personal injury compensation in Australia. The South Australian Government is to be congratulated for having the foresight and reform commitment to allow private insurers to bring innovation and competition to the underwriting of CTP, which will benefit motorists and injured persons.”

Allianz is one of Australia’s leading motor accident injury insurance specialists. Allianz provides CTP insurance in NSW and Qld, and recently signed a 10-year agreement to manage CTP claims on behalf of the Northern Territory Government. Allianz also has a highly successful track record as the manager of CTP claims in South Australia since 2003.

“Allianz will most certainly be responding positively to the Government’s foreshadowed Expression of Interest. Our existing South Australian CTP claims operations, plus the location of national insurance sales and claims processing centres in Adelaide, makes Allianz one of the State’s largest employers. Allianz welcomes the opportunity to further strengthen our presence in the State should we be successful in being granted a licence to sell CTP insurance in South Australia,” Mr Peiris added.

About Allianz Australia
General Insurance Company of the Year 2014, 2013, 2012, 2011, 2009*
Best General Insurance Company of the Year 2014, 2012, 2010, 2007, 2006**
Allianz Australia delivers a wide range of personal, commercial and corporate insurance products and services to more than 2.5 million policyholders. Over 50% of Australia’s top 200 BRW-listed companies have some form of insurance cover with the group and the group provides workers compensation services to around one-fifth of Australian employees.

*Australia & New Zealand Insurance Industry Awards
**Australian Banking and Finance Insurance Awards