The NSW Government has introduced its new compulsory third party (CTP) motor scheme, along with a price comparison website.

Premier Gladys Berejiklian says the reformed program will save drivers up to $172 a year from next month and Sydney taxi drivers more than $3000.

“The new scheme will deliver much-needed savings,” she said. “Without the Government’s reforms, average premiums would have been $654 [next year].”

The average greenslip price will be $543 for Sydney drivers and $414 for country motorists.

The average premium for Sydney taxi owners will fall to $5007 from $8836. It drops to $2923 from $5203 for country taxis.

“We are also delivering refunds to eligible motorists who renewed their greenslip during [this year,” Ms Berejiklian said. “They will be delivered through Service NSW, with further announcements about the process expected shortly.”

The new scheme allows all injured road users to access benefits for loss of income and medical expenses for up to six months, with lump sum compensation retained for those with long-term injuries. The comparison website is here.