Car dealerships claim Compulsory Third Party insurance commission ban will put ... Courier Mail
Industry sources estimated the commission ban could wipe almost $35 million from dealer revenues each year.
Insurers will save some money by not paying commissions. But sector sources estimated a gap remained between this saving and the overall $24-a-policy cut, resulting in a potential hit of $20 million to insurers.
But another wild card lies in Treasurer Andrew Fraser yesterday also referring to eliminating "other forms of inducements" under the CTP scheme.
That sparked speculation of banning insurers from offering discounts to dealers that wrote bulk volumes of CTP policies.
Mr Payne said cutting commissions would also "break down the relationship that the dealers have with insurers", thereby increasing customer turnover.
Suncorp – with over 50 per cent of Queensland's CTP market share – said its range of brands, which include AAMI, left the insurer "well positioned" for any reforms that increased choice for customers buying or renewing CTP.
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