Insurance Commission Of Western Australia
The Insurance Commission of Western Australian (Insurance Commission) is an Australian statutory corporation that happens to be the one and only provider of compulsory third party (CTP) insurance in Western Australia.
What Does The Insurance Commission Do?
The Insurance Commission engages in the following activities:
- It administers and underwrites Western Australia’s CTP insurance scheme.
- It manages and invests all money.
- It provides advice to the government on issues pertaining to insurance.
- It manages RiskCover.
More importantly, it handles all the following funds:
Third Party Insurance Fund
Based on the Motor Vehicle (Third Party Insurance) Act of 1943, this fund goes toward issuing and undertaking insurance liability. Every citizen in Western Australia who owns a registered vehicle is issued a Policy of Insurance that essentially provides the owner with unlimited indemnity against claims of injury caused by motor vehicle accidents. The management and distribution of all premiums collected is done through the Third Party Insurance Fund.
The RiskCover Fund gets funneled toward the RiskCover program. RiskCover is a self-insurance program designed to help government agencies minimise their strategic, operational and project risks. It is not used by the general public.
Compensation (Industrial Disease) Fund
This fund goes toward industrial diseases insurance. It is compulsory for those employers who are engaged in any form of mining. Liability only covers certain respiratory diseases and conditions like meothelioma and pneumoconiosis.
Community Insurance Fund
This fund provides not-for-profit community organizations with budget-friendly public liability insurance.
How Does CTP Insurance Work In Western Australia?
Western Australia’s CTP insurance provides WA vehicle owners with unlimited coverage in case they or someone else driving their vehicle causes an accident that harms other people. Keep in mind that this policy provides zero coverage for the driver’s own injuries. If the driver is liable, then he or she must pay for his or her own injuries. Likewise, if somebody else is liable, then the driver and/or passengers must make a claim against the liable party’s CTP policy.
Note also that the Insurance Commission of Western Australia is obliged by law to provide compensation to injured parties, regardless of any extenuating circumstances. For instance, suppose the policy holder somehow breaches his or her CTP Policy. The Insurance Commission would still have to provide coverage, though the Insurance Commission could later seek to recover money from the negligent vehicle owner.
Some warranties and obligations set forth by WA’s CTP Policy are included below:
- The vehicle cannot be used in a way not specified in the policy application.
- The vehicle cannot purposefully be driven in a damaged condition.
- The vehicle cannot be driven by somebody under the influence of substances.
If the driver gets injured due to a “no fault” accident, then he or she must rely on other sources to seek compensation. These might include social security, Medicare, sick leave and the public health system. It is for this reason that the Insurance Commission of Western Australia recommends that all drivers and motorists invest in some personal form of insurance.
Useful Insurance Commission Tools
The Insurance Commission website contains several tools and pages worth taking a close look at:
Insurance Premium Schedule
The Insurance Premium Schedule provides annual premium rates with and without GST for different types of vehicle classes, including motor cars, ambulances, tractors, wagons, motorcycles and more.
Reporting A Crash
This page provides fundamental information on reporting a motor vehicle crash. It includes a link to a page where one can report the crash online.
This policy guide provides a comprehensive, in-depth overview of WA’s CTP scheme. It includes a claims process flow chart; an overview of the claims process; and steps for starting and handling a claim.
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