While the MAA does not set Green Slip prices, it issues premiums determination guidelines (PDG) which set out the requirements, documentation and justification that insurers must provide to the MAA when filing for price changes. Under the current legislation, the MAA does not approve or endorse prices but has the power to reject a proposed price change if the MAA is of the opinion that it does not conform to the PDG; or if it is considered inadequate to fully fund the insurer’s present and future liabilities; or if it is considered excessive. (Source: MAA Annual Report 2012-2013)
There are no discounts on greenslips, i.e., further discounts from the price submitted to the MAA. Insurers, their agents, and brokers are only allowed to provide greenslips at the submitted to the Motor Accidents Authority. Should an insurer have discounts under certain circumstances such as having 0 demerits on the licence, having no prior claims, and others, the discounted rates are also included in the rates submitted to the MAA.
Pensioners do not get discounts on greenslips. If eligible, a pensioner is entitled to concessions from the RTA/RMS. Details of pensioner concessions can be found here. For details on pensioner concessions, it is advisable to contact the RMS.
Since discounting on greenslips is not allowed, some insurers offer product bundling discounts instead. For instance, if a CTP greenslip is bundled with a motor vehicle insurance purchase, the client may be given a discount on the motor vehicle insurance product, but not on the greenslip. You may want to ask your greenslip insurer if they offer product bundling and discounts in this respect.