Consultation on the NSW compulsory third party motor insurance scheme closes next Monday.

The review is held every five years and seeks feedback from all scheme participants. The state’s CTP insurers are NRMA Insurance, Suncorp, Allianz, QBE and Youi.

Insurers have told the NSW parliament’s Standing Committee on Law and Justice that premiums are under pressure from rising claim costs and frequency, with psychological injury claims growing and the size of statutory benefit claims increasing year on year.

Monitoring data for the March 2025 quarter found the average payment was $40,000 for an at-fault claim and $18,000 for a not-at-fault claim.

More than 102,670 claims have been reported since the scheme began in 2017. More than 6.4 million policies have been sold and the average premium has fallen from $935 to $536.

An independent reviewer has proposed a road map to strengthen the regulation of health providers that operate in NSW personal injury schemes.

And the State Insurance Regulatory Authority has accepted the review’s findings, which include reducing complexity in the regulatory framework and strengthening collaboration and engagement with health providers and insurers.

Implementing the road map is expected to take until the end of next year.

Find out more about the consultation here.