Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated ActsThe CTP regulator has the following functions:
(a) to regulate the licensing of insurers operating under the compulsory third-party insurance scheme under this Act, including to issue, suspend or cancel licences for insurers and supervise insurers;
(b) to monitor the management of claims by licensed insurers and insurers' compliance with their obligations under the Act;
(c) to ensure that premiums fully fund the present and likely future liability under the Act but are not excessive;
(d) to approve or reject CTP premiums and make guidelines in relation to premiums under this Act;
(e) to monitor the availability, adequacy and use of rehabilitation services for claimants who suffer personal injury in motor accidents and develop and support programs, research, resources and guidelines that will assist effective injury management ;
(f) to support research into the causes of motor accidents, and the economic, social and personal cost of motor accidents;
(g) to promote public awareness of the causes of motor accidents, and the economic, social and personal cost of motor accidents;
(h) to promote the provision, maintenance and support of the infrastructure and services necessary to reduce the incidence and consequences of motor accidents;
(i) to monitor the efficiency of the compulsory third-party insurance scheme and, in particular, the proportion of the funds of the scheme paid to claimants or applied for their direct benefit;
(j) to develop and coordinate strategies to identify and combat fraud in or related to motor accident claims;
(k) to keep the insurance industry deed under review and make recommendations for its amendment;
(l) to keep the compulsory third-party insurance scheme generally under review and make recommendations for its amendment;
(m) any other function given to the CTP regulator under
this Act or another territory law.