Update 4.30pm: According to Wollongong police, the motorcyclist has suffered two broken legs, internal injuries and head injuries.
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The man was riding a Suzuki road bike.
He is in a serious condition and was airlifted to St George Hospital.
The incident occurred at the intersection of Jamberoo Mountain Road and Churchill Street, just after 2pm.
Meanwhile, police conveyed the driver of the vehicle, a blue Pajero, for mandatory testing.
Police are also managing traffic in the area.
Also, the Crash Investigation Unit from Sydney will be undertaking inquiries.
Update 3.40pm: According to Ambulance NSW, the 56-year-old motorcyclist has been airlifted to an undisclosed hospital, having sustained suspected broken arms and legs.
Update:
According to police, a helicopter is en route to transport the motorcyclist to hospital.
Police believe the man's injuries to be serious, but not life-threatening.
Earlier:
Traffic is reportedly heavy around Jamberoo Mountain Road, after a crash on Saturday afternoon.
According to Ambulance NSW, about 2pm on Saturday they responded to reports of a collision involving a car and a motorbike.
They have three ambulance crews on-scene, and were assessing one patient; a male believed to be in his 40s.
He has a suspected broken arm, and is reportedly "pretty shaken up after coming off his motorcycle", officials say.
As of 2.30pm, ambulance officials were in the process of determining which hospital to take him to, and which mode of transport, with a helicopter potentially required.
More details to come.