Tasmania’s Motor Accident Insurance Board is delivering for motorists by leaving most premiums unchanged for the second consecutive year.
The State-owned provider of compulsory third party personal injury insurance, the MAIB is, in real terms, leaving more money in the pockets of the majority of Tasmanian motorists.
A Parliamentary Committee scrutinising the Government Business Enterprise today heard that the MAIB’s decision on premiums for 2015-16 was made on the back a strong result in 2014-15.
The MAIB celebrated its 40th year of operations with an operating result before tax of $137.2 million.
Not only has this enabled premiums for most vehicle classes to remain unchanged, it has also meant the insurer has been able to provide a Special Dividend of $100 million – helping to fund our hospitals, schools and roads.
With an interest in promoting road safety, the MAIB also continues to provide significant financial support for our efforts to prevent serious road trauma.
The MAIB has committed indexed funding of $3.6 million a year to fund the education and enforcement strategy of the Road Safety Advisory Council.
In addition, the MAIB sets aside one per cent of its gross annual premiums to fund its Injury Prevention and Management Foundation, which fosters research, education and service programs in the Tasmanian community.
The Liberal Government congratulates the board and staff of the MAIB for continuing to deliver for Tasmanian motorists and for the wider community.