Compulsory third party (CTP) reforms in NSW will be delayed at least a year after the State Government withdrew legislation from Parliament, according to IAG.

“At this stage, it looks as if there is nothing going to happen with the… scheme until at least the middle of next year and it could be later than that,” CEO Mike Wilkins told a results briefing.

The insurer remains in talks with the Government and regulator and is confident reforms will eventually happen, he says.

Finance and Services Minister Andrew Constance says the Motor Accident Injuries Amendment Bill was pulled because Labor and the Greens were planning to block it.

“The NSW Government’s legislation was designed to make the CTP scheme more affordable for motorists and fairer for accident victims,” he said.

The Insurance Council of Australia told a roundtable at Parliament House last month that the proposed shift to a no-fault scheme will bring lower premiums.

But opponents argue the changes could cut benefits, increase the suffering of children and their families and fail to address insurers’ costs.