The ACT Government has released an exposure draft bill for a new no-fault compulsory third party (CTP) insurance scheme selected by a citizen’s jury earlier in the year.

The bill has been referred to the Justice and Community Safety Committee for further community consultation.

Passenger vehicles premiums under the Motor Accident Injuries Schemes will fall to $385-465 from about $556 under the existing system.

More ACT residents will be covered when the scheme is implemented next year.

Click here to access the draft bill.