Overview of MAIC Funding Initiatives
The provisions of the Motor Accident Insurance Act 1994 (MAI Act) give the Motor Accident Insurance Commission (MAIC) a legislated role to promote measures directed at eliminating or reducing the causes of motor vehicle accidents and mitigating their results. To achieve this objective the Commission has, since its establishment in 1994, made one-off as well as recurrent funding grants to universities, hospital foundations and medical colleges. These grants have funded research across the continuum from accident prevention to treatment and rehabilitation, to community integration and long-term support for accident victims. The Commission has also made financial contributions to Queensland's Department of Transport and Main Roads road safety media campaigns and police road safety enforcement activities.
Any funding requests received by the Commission are considered in relation to its obligations under the MAI Act. Priority setting includes consultation as necessary with other government departments, industry and consumer groups, community agencies, other funding bodies and university faculties and departments. Reference is also made to what research activities may be happening in other states and territories as well as overseas in relation to motor vehicle accident prevention and the treatment and rehabilitation of those injured. MAIC also utilises its claims register and statistical database to help identify funding priorities through emerging trends.
The annual investment income earned from the Motor Accident Insurance Fund forms the major source of grant funding. This investment is supplemented by a small surplus from the statutory levy (collected as part of CTP premiums to fund the operational requirements of the Commission), and revenue earned from compliance fines in relation to offences against the provisions of the MAI Act.
Last reviewed 19 April 2012