15 September 2025
The transitional excess profits and excess losses (TEPL) mechanism gives SIRA the power to control the level of profit that insurers earn in the NSW Compulsory Third Party (CTP) Scheme.
Since 2020, SIRA has reclaimed $542.9 million in excess profits, which has led to a reduction in premiums, delivering real value and cost relief to customers.
In 2025, no insurer profits will be reclaimed under TEPL. This reflects how the insurers have adjusted their pricing during the transitional period as the experience in the scheme developed and the mechanism’s success in curbing excessive insurer profits during the early years of the new scheme.
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Updated 26 September 2025