NEWS: Insurance System Fails NSW Road Victims

[AWD Chaser]

http://www.news.com.au/breaking-news...-1226141039261

MOTOR accident victims in NSW should be better compensated from the vast profits reaped on compulsory insurance for drivers, the state's bar association says.

The NSW Bar Association is calling for an independent inquiry into how the state's personal injury laws and compulsory third-party insurance system work for people injured on the road.

While insurance companies make huge profits under the current green slip scheme, 90 per cent of victims are left uncompensated, association president Bernard Coles QC says.

"Some of those excess profits should be diverted to accident victims to properly compensate them for their injuries without the need for any increase in green slip prices," he said in a statement today.

"These profits in these circumstances are unjustifiable in a compulsory, public system."

Mr Coles said changes made by the previous government to personal injury laws resulted in thousands of people being denied proper compensation for their injuries.

"The current patchwork of schemes fails injured people in this state, and an urgent inquiry into personal injury laws is required to restore much-needed balance to the system," Mr Coles said.

[fg_nitro]

What the hell are they doing With the MCIS levy?

[xisled]

I agree with that. I used to work for one of the major insurance company and the fight most people had on there hands just to get a pay out is bad. Maybe NSW should think about putting a system in place like here in VIC.

[fmc351]

Thank Tort reform. Remember all that bullhockey about small school fates and various other public events having insane liability insurance and would be cancelled if something wasnt done. All that nonsense that it was a result of insane compensation payouts, which in truth were either distorted or not the end result (appeals overturn etc).

Yeah, thank that nonsense. Insurers were lying, and most of the public fell for it. Everyone knows a story, at least half of one. In the end what we got was capped payouts and various changes that leave some poor bugger much much worse off, as a result of an event that probably wasnt there fault in any way.