The Motor Accident Commission (the Commission) is established pursuant to the Motor Accident Commission Act 1992 (the MAC Act). The main function of the Commission is to provide compulsory third party (CTP) insurance to motor vehicle users in South Australia.
The principal objectives of the Commission in providing CTP insurance are to:
- achieve and maintain a sufficient level of solvency in the Compulsory Third Party Fund (the CTP Fund)
- minimise premium charges having regard to the Commission’s objective of achieving and maintaining a sufficient level of solvency in the CTP Fund
- deal with claims for compensation in accordance with law as expeditiously as possible.
The Commission’s charter, pursuant to section 18 of the MAC Act, empowers the Commission to undertake CTP insurance and financial risk insurance.