A new insurer enters the CTP market

Youi is available for motor vehicle owners to choose as their Compulsory Third Party (CTP) Insurer from
1 July 2022 when renewing their vehicle registration.

This means increased choice for motorists who have the freedom to choose from AAMI, Allianz, QBE, SGIC and Youi each time their registration renewal is due.

Following a rigorous application and approval process, Youi was found to meet legislative and contractual requirements.

The CTP Regulator is satisfied Youi has the systems, processes and people to manage CTP insurance policies and claims of eligible, injured road users.

CTP Insurers provide an identical CTP policy of insurance and manage claims made against the policy. They are required to act in the best interests of CTP insurance policy holders, injured people and the CTP Scheme. The Regulator monitors insurers against these obligations through contractual arrangements with the State, including compliance with Regulator Rules and with the laws applying to CTP insurance.

CTP Insurers are able to compete on price and service, and may offer incentives that provide direct benefit and real value to policy holders. Motorists can compare insurer premiums by using the CTP premium calculator .