business.gov.au

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

Description

You will need 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 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.

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

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.

Ongoing eligibility 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

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application All

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

Forms

Other resources

Task Business Structure Resources
General All Motor Accident Guidelines - PDF (Opens in new window)

Act(s) name

Motor Accident Injuries Act 2017 New South Wales

Regulation(s) name

Motor Accidents Compensation Regulation 2020 New South Wales

Administering agency

Department of Customer Service

State Insurance Regulatory Authority

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.