The National Injury Insurance Scheme (NIIS), intended to be a complement to the National Disability Insurance Scheme (NDIS), will provide lifetime care and support to people who sustain a catastrophic injury from a motor vehicle, workplace, medical treatment injury or general accident.
Treasury engaged PwC, on behalf of the Council on Federal Financial Relations, to prepare this Council of Australian Governments (COAG) Consultation Regulation Impact Statement (RIS).
The purpose of a Consultation RIS is ‘to canvass the regulatory options under consideration, in order to determine the relative costs and benefits of those options.’ As motor vehicle insurance and accident compensation schemes are the responsibility of State and Territory governments, this RIS contributes to jurisdictions’ consideration of the possible impact of changes to their motor vehicle accidents schemes in the context of the proposed NIIS and the requirement for minimum benchmarks for the provision of no-fault lifetime care and support in the event of sustaining a catastrophic injury from a motor vehicle accident. States and Territories may undertake public consultation before enacting any changes to their schemes.
Specifically, the focus of this Consultation RIS is on identifying the best way of providing lifetime care and support for all newly acquired catastrophic injuries due to motor vehicle accidents; this RIS does not consider compensation for pain and suffering, or any loss of income that may also be due to motor vehicle accidents where catastrophic injury results.
Following consultation, a COAG Decision RIS will be prepared; the purpose of which is ‘to draw conclusions on whether regulation is necessary, and if so, on what the most efficient and effective regulatory approach might be, taking into account the outcomes of the consultation process.’