CTP insurer claims experience and customer feedback comparison – March 2021
The State Insurance Regulatory Authority (SIRA) has published its compulsory third party (CTP) insurer claims experience and customer feedback comparison report for March 2021.
Published each quarter, the report uses the indicators below to measure insurer performance over the course of a claim journey:
- The number of statutory benefit claims accepted by insurers
- How quickly insurers pay statutory benefits
- The outcome and time taken to review claim decisions by insurers through the insurers internal review unit
- The number and outcome of claims referred to the Dispute Resolution Service
- The number and type of compliments and complaints received by SIRA about insurers
- The number and type of issues considered for enforcement and prosecution action
- Customer experience and outcomes, as measured by SIRA’s independent survey
In this issue, SIRA compares the seven key indicators across five CTP insurers in NSW – AAMI, Allianz, GIO, NRMA and QBE.
A sixth insurer, Youi, joined the CTP scheme from 1 December 2020. Youi will be included in quarterly reporting once it receives a significant number of claims.
Read the report.
Entitlements of NSW-registered vehicle owners in interstate accidents
If you are injured in an accident while driving or riding an NSW-registered vehicle interstate; compulsory third party (CTP) cover for your injuries depends on the law of the State or Territory where the accident happened.
SIRA has published a new brochure in consultation with key stakeholders. It provides a summary of information from each State and Territory on their benefits to support NSW-registered customers.
Being informed may help NSW road-users consider other policies or travel insurance where it meets their needs.
Round 3 of Recovery Boost mental health grants opens soon
SIRA is launching the third and final round of the Recovery Boost grant program this June.
Part of the NSW Government’s Mentally Healthy Workplaces project, the Recovery Boost program offers $50,000 grants to individuals and organisations who come up with innovative ways to improve mental health recovery at work.
For this round, SIRA is looking for students, researchers, mental health advocates, businesses leaders and people with lived experience to pitch a solution via video by 17 June 2021. Successful entries will be invited to a hackathon event on 22 June 2021.
The Recovery Boost program aims to expand the knowledge base of what works to support mental health recovery at work. Learn more about the program and pitch your idea today.
Free mental health coaching for small business owners
Running a small business can be highly stressful. Long hours, social isolation, cash flow issues and the competing demands of work and home life can leave around a third of small business owners feeling high levels of mental distress.
To address the need for mental health support in this group, Beyond Blue has launched NewAccess for Small Business Owners (NASBO).
NASBO is a free, confidential mental health coaching program for small business owners feeling stressed or overwhelmed by the day-to-day challenges of running a small business.
The program uses low-intensity Cognitive Behavioural Therapy, providing practical tools to manage challenges and help people break the cycle of negative and/or unhelpful thoughts.
NASBO is funded by the Australian Government and available nationally via telehealth.
For any enquiries or questions, please contact Beyond Blue via 1300 945 301 or visit the website.