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CTP ‘Green Slips’ Under Review In New South Wales

The New South Wales State Government has put Compulsory Third Party (CTP) ‘green slip’ insurance under the microscope in a bid to arrest the spiralling cost of the scheme to motorists. As in all other Australian states and territories, a ve


The New South Wales State Government has put Compulsory Third Party (CTP) ‘green slip’ insurance under the microscope in a bid to arrest the spiralling cost of the scheme to motorists.

As in all other Australian states and territories, a vehicle being operated on public roads in NSW must have CTP insurance in addition to the vehicle’s registration.

But unlike some other states, the scheme in NSW is run by ‘private’ insurers, with no State Government-run insurer to offer the compulsory insurance.

This scheme is designed to promote competition among CTP providers, but drivers in NSW may rightly feel that competition appears lacking, with CTP 'green slip' premiums having risen 70 percent since 2008.

TMR examined CTP insurance in 2013, finding owners in NSW and the Australian Capital Territory paid double in some circumstances for combined registration and CTP compared to drivers in Western Australia

And now a fresh review from the NSW State Insurance Regulatory Authority (SIRA) has found that things have barely changed, with WA still the cheapest (an average of $303) while NSW has overtaken the ACT to become Australia’s most expensive state to purchase CTP.

The new average CTP premium is $637 per year, while ACT owners pay $595 on average. 

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