Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts(1) For each financial year, the CTP regulator must publish in the CTP regulator's annual report the average risk premium amount for passenger vehicles.
(2) In this section:
"average risk premium amount", for passenger vehicles, for a financial year, means the average of the risk premium amounts for passenger vehicles used by each licensed insurer for the year, weighted by each insurer's market share and expressed as an average price by policy.
"passenger vehicle" means a motor vehicle built mainly to carry people but does not include the following:
(a) an ambulance;
(b) a bus;
(c) a demand responsive service vehicle;
(d) a drive-yourself hire vehicle;
(e) a motorcycle;
(f) a police vehicle;
(g) a general hire car;
(h) a taxi.
"risk premium amount", for a licensed insurer for passenger vehicles, means an amount that is equal to the insurer's best estimate of the minimum projected cost of motor accident claims relating to passenger vehicles.
7 New sections 163F and 163G
in part 4.10A, insert