Compulsory motor vehicle insurance
Your greenslip is an insurance policy that provides for compensation for people killed or injured in a motor vehicle accident.
A greenslip is a legal requirement for all motor vehicles registered in NSW, except trailers. Trailers are covered under the greenslip of the towing vehicle.
Greenslip is a generic term for Compulsory Third Party (CTP) Insurance. Greenslips are also referred to as CTP Greenslips, green slips, greenslip insurance, CTP and CTP Insurance.
When you purchase a greenslip you are participating in two schemes in NSW. First, the Third-party Insurance scheme, regulated before 1 December 2017 by Motor Accidents Compensation Act 1999 and since 1 December 2017 by Motor Accident Injuries Act 2017. Second, the Lifetime Care and Support scheme, regulated by the Motor Accidents (Lifetime Care and Support) Act 2006.
The Third-party Insurance scheme and the Lifetime Care and Support scheme are explained in full on this site.