Third-party Car Insurance (Green Slip) Licence - New South Wales

Service summary

You will require this licence if you run an insurance business and intend to provide third-party car insurance policies (also known as a Green Slip).

A third-party car insurance policy is an insurance policy which insures the owner of a motor vehicle against liability for the injury or death of people caused by the owner or driver of the vehicle.

Third-party car insurance is compulsory in NSW and must be taken out when registering a motor vehicle. It is regulated by the NSW State Insurance Regulatory Authority (SIRA).

The authority will conduct an extensive review of your previous business practices when you submit an application.

Please consult the Contact Officer for more information.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this licence you must:

  • be a corporation authorised by the Commonwealth Government to carry on an insurance business
  • be a party to the Insurance Industry Deed
  • complete an application with all the required information and documentation.

Please consult the Contact Officer for more information regarding eligibility requirements.

Ongoing requirements

As a licensed third-party insurance provider in New South Wales, you must:

  • notify the State Insurance Regulatory Authority of the amount of all third-party insurance premiums received for a specified time period
  • provide the authority with a business plan for your third-party insurance business when requested
  • revise your business plan every 12 months or whenever the authority directs you to do so
  • keep all records related to the running of the insurance business and provide them to the authority when required to do so.

Duration

A licence is in force until it is cancelled.

Fees

 TypeDescription
ApplyApplication

Please consult the Contact Officer for information on fees to be submitted.

Forms

 Resources
Apply

Third-party Car Insurance Licence Application - Please consult the Contact Officer for information on forms to be submitted.

Additional information

The State Insurance Regulatory Authority may place conditions on your licence. You may be asked to provide additional documentation with your application. The authority may order an audit of your business. You have the right request an administrative review of any decision made by the authority.

Administering agency

Department of Finance, Services and Innovation
State Insurance Regulatory Authority

Act(s) name

Motor Accidents Compensation Act 1999 (New South Wales)

Regulation(s) name

Motor Accidents Compensation Regulation 2015 (New South Wales)

Disclaimer

The information contained on the Australian Business Licence and Information Service (ABLIS) web site, or via packages or other sources is intended for general guidance only.

To the full extent permitted by law, the Federal, State, Territory and Local Governments make no representations or warranties (expressed or implied) in relation to the information, including its accuracy, currency or completeness.

The business information provided does not constitute professional or legal advice, nor is the use of any third party resource an endorsement of the information contained, the associated organisation, product or service. It is recommended that you obtain appropriate professional and /or independent legal advice to ensure that the material provided here is relevant to your particular circumstances.

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