General insurer, Youi, began selling green slips in NSW in 1 December 2020. It’s the first insurer to join the CTP scheme for many years.
Six CTP insurers
The number of licensed CTP insurers in NSW has been continually dropping in the last 20 years. The most recent dropouts were Zurich in March 2016 and CIC Allianz in mid-January 2019.
Youi has now become the sixth CTP insurer, with AAMI, Allianz, GIO, NRMA Insurance and QBE. It’s the first entrant since the green slip scheme was reformed in December 2017. This may well create more competition in the price of green slips.
More about Youi
Some may already be familiar with the name, which stands for You Insured. Youi is a general insurance company with policies in motor, home, watercraft and business liability. Its parent is RMIH Group, a financial services investment holding company in South Africa. Youi used to offer CTP in NSW before April 2019, but only as an agent for QBE.
Since 1 December 2020, the greenslips.com.au calculator has shown prices for Youi as well as the other five CTP insurers. It is now even more worthwhile to compare the prices of green slips.
If you are looking for a green slip, the greenslips.com.au calculator is the best and quickest way to compare prices.