QBE Continues to support Queensland Taxi Industry

Following the announcement of yet another increase in Compulsory Third Party (CTP) premiums QBE Insurance has increased the discount from $100.00 to $200.00.

This follows a decision by the Motor Accident Insurance Corporation (MAIC), the Queensland body that determines CTP premiums across the board, to increase the relativity of the premium for the taxi industry.  The relativity is the time' factor of a standard CTP premium for a Class 1 vehicle - the standard motor vehicle in Queensland.  This, according to MAIC, reflects the increased risk in insuring a taxi, based on the past history of motor vehicle accidents involving taxis. 

The Taxi Council through the Accident Watch Task Force has been defending the industry's position in this regard. On numerous occassions in the past, it has been able to convince MAIC that further increases were not warranted.

It is however important that all of the Queensland taxi Industry drivers and operators alike review their driving habits to ensure that accidents are reduced in an effort to have the relativity factor reduced, not increased every year.

MAIC allow each of the recognised CTP Insurers to pitch their premiums at a range of prices - always they select the higher end for the taxi industry.  QBE have been supporting the taxi industry by offering a discount of $100.00, however the company is convinced that lower premiums are sustainable and have increased the discount to $200.00.  TI(A)IB - the insurer owned and operated through Jardine Lloyd Thompson and especially set-up for the Queensland taxi Industry will also give a gift voucher to the value of $50.00 for every taxi with QBE CTP Insurance.

CTP Premiums from July 1st for standard taxis in Queensland were increased to $4,360.00 less the $200.00 discount from QBE = $4,160.40.