Is there a difference between Compulsory Third Party (CTP) insurance and a green slip? No, in NSW they mean the same thing. CTP insurance is a kind of insurance and in NSW, CTP insurance is usually called a green slip.
Are CTP insurance and green slip the same thing?
Yes, CTP insurance and green slip are the same thing. CTP insurance is a type of insurance that all vehicle owners in Australia must have. In NSW, CTP insurance is known as a green slip. Other states and territories in Australia don’t use the term green slip to describe CTP insurance.
Why is CTP insurance called a green slip in NSW?
In NSW, CTP insurance is called a green slip simply because it used to be printed on green paper. Two other terms used in registration also refer to the colour of the paper – pink slip and blue slip.
Does CTP insurance work differently in NSW?
Yes, NSW is the only state where you have to buy your CTP insurance separately before you can register your vehicle. However, the purpose of CTP insurance in NSW is the same. It covers you for injury or death caused to others by your vehicle in a road accident anywhere in Australia.
Does CTP insurance operate the same way in each state and territory?
No, each state and territory runs its own CTP insurance scheme. This means there’s a difference in the way they operate, for example:
- Government or private insurers may underwrite the CTP scheme.
- Amounts and timing of benefits paid to claimants vary.
- The role of fault in the accident varies.
- You may or may not be able to sue for damages.
These differences between states and territories don’t change the fact CTP insurance is mandatory in Australia and covers you for injury or death caused to others by your vehicle.
Is CTP insurance known by other names?
Yes, in the Australian Capital Territory, CTP insurance is known as Motor Accident Injuries (MAI) insurance. Learn about CTP insurance in other states and territories in Australia.
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