Minister for Revenue and Assistant Treasurer, Senator the Hon Helen Coonan, today welcomed a second constructive Ministerial Meeting on Public Liability Insurance.
Senator Coonan said she was pleased that so much had been done in the weeks following the successful first meeting in March, and today's follow-up meeting had hammered out a range of constructive concrete measures which would go even further toward stabilising public liability insurance premiums.
"Since our first meeting, State Governments have come up with some comprehensive proposals for tort law reform, and some States, such as New South Wales, are already quite well advanced," Senator Coonan said.
"The Commonwealth has been working quickly in the areas where it has responsibility, and I am pleased to be able to announce an extensive package of Commonwealth initiatives today."
The Commonwealth has agreed to:
- Introduce legislation to protect volunteers associated with Commonwealth agencies from being sued.
- Examine, in conjunction with the States and Territories, as a matter of urgency, the costs and benefits of exempting eligible not-for-profit organisations from common law damages claims for death or personal injury (other than for intentional torts) and develop options as appropriate.
- Legislate to allow self-assumption of risk for people who choose to participate in inherently risky activities such as adventure tourism and sports, subject to preserving adequate protection for consumers under the Trade Practices Act 1974.
- In conjunction with States and Territories, appoint an expert panel of three eminent persons to examine the law of negligence, including its interactions with the Trade Practices Act.
- Take a lead role, where required, in assisting particularly badly affected groups to develop risk management standards and accreditation requirements.
- Request that the Productivity Commission carry out a benchmarking study into Australian insurers' claims management practices against world standards.
- Provide the ACCC with a standing brief to update its Insurance Industry Market Pricing Review on a six monthly basis over the course of the next two years.
- Compel authorised insurers operating in Australia to provide comprehensive claims data under the Financial Sector (Collection of Data) Act 2001.
- Introduce legislation on structured settlements during this sitting of Parliament.
"The measures we have announced today, together with the progress being made by States and Territories, are concrete ways of addressing the public liability insurance issue which is having such a significant impact on our community,"
"I don't believe anybody at today's meeting underestimates the impact this issue is having on so many aspects of our everyday lives."