CTP or Greenslip
Vehicles registered in all states and territories of Australia must be covered by compulsory third party (CTP) insurance. Broadly, CTP insurance covers the cost of treatment and compensation for people injured in road accidents.
CTP insurance schemes vary across Australia because they are legislated on a state basis. Insurance in some states is provided by private insurers and in others by government bodies. CTP insurance is highly regulated because it is compulsory. Private insurers are licensed to offer CTP only under strict guidelines in state and territory Acts and Regulations.
In most states and territories, CTP is automatically included with the registration fee. NSW is the exception: you must purchase CTP separately before registration and it is commonly called a green slip. In NSW there are six providers of CTP insurance: AAMI, Allianz, CIC Allianz, GIO, NRMA Insurance and QBE. They are licensed by the State Insurance Regulatory Authority (SIRA).
Only NSW, Qld and ACT offer a choice of CTP provider and SA will do so from July 2019.