Compulsory third party insurance nsw or the green slips in Australia have been considered as one of the basic needs and an important responsibility of a driver to keep him and others safe and away from ay financial issues in case if there is an accident.
For the Australians who are thinking about why they have been made to buy the CTP, they should be aware of the basic reasons that have given the ctp so much importance. Due to the many incidents and accidents that happen on a daily basis while driving on the road, no one could stay away from possible hazards and chances are there that anyone could be a part of accident either as an at-fault driver or sometimes as the third party who got injured due to the ignorance or fault of the other driver.
The reason that actually has lead to the compulsion of the green slip can be considered as the financial and physical safety and health of all the people on the road.
In addition to that, we can also say that when you have the green slip you are sure to have that in mind that you have the responsibility of keeping other safe to stay away from possible hazards on the road.
People having the green slip also are sure to know that there is a responsibility on their shoulders to take the full responsibility if they are at fault and their insurers would compensate the amount to treat the injured third party individual who needs financial help.
So, we can say that by paying for the green slip and possessing the responsibility on the road as a driver, CTP proves to be a good source to help people understand their responsibilities. It also helps in providing financial help for the third party and may also considered to show support for the insured person as well.