business.gov.au

Motor Accident Injuries (MAI) Insurer Licence - Australian Capital Territory

Description

You will need this licence if you are a licensed insurer and intend to offer Motor Accident Injury (MAI) insurance under the MAI Scheme.

Third party motor insurance is an insurance policy which insures the owner of a motor vehicle against liability for the injury or death of people caused by the owner or driver of the vehicle. Third party motor insurance is compulsory in the ACT and must be taken when registering a motor vehicle.

Please be aware that if your application is approved you must provide the Agency with information on the premiums you intend to charge for approval.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this licence your corporation must:

  • be licensed to act as an insurer, and carry on an insurance business
  • be a party to the insurance industry deed.

If you hold a licence in another State or Territory and intend to conduct work in the Australian Capital Territory your licensing status may be recognised under the mutual recognition system. To be eligible you will need to provide a copy of this licence.

Duration

As specified

Fees

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application All

Please contact the agency for more information.

Forms

Act(s) name

Motor Accident Injuries Act 2019 Australian Capital Territory

Regulation(s) name

Motor Accident Injuries (Premiums and Administration) Regulation 2019 Australian Capital Territory

Administering agency

Chief Minister, Treasury and Economic Development Directorate

Treasury

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.