Approval as a Self-Insurer - Australian Capital Territory

Service summary

You will require this approval if you intend to manage your own workers compensation policies instead of paying workers compensation premiums to a licensed insurer. Workers compensation is a system whereby an employer must pay, or provide insurance to pay, the lost wages and medical expenses of an employee who is injured in the workplace. Employers are required by law to hold workers compensation insurance. This approval provides exemption from this requirement.

To be granted this approval you will have to meet set conditions, obligations and requirements under the Act.

Please use the contact details below to find out more information.

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 approval you must demonstrate core competencies across a range of areas, including:

  • Case management
  • Decision making
  • Customer service and dispute resolution
  • Reporting and data quality
  • Understanding of, and compliance with, the Regulatory Framework.

You must also prove your ability to meet present and future claims made by employees by providing:

  • Copies of your annual report and balance sheet for each of the previous 3 years
  • A statement from your Chief Finance Officer about your financial solvency
  • A copy of your business plan for the next 3 years
  • An actuarial report outlining an estimate of your current outstanding and expected ongoing liability in relation to compensable injuries
  • Evidence that you have a guarantee from an authorised deposit-taking institution for an amount that will cover the estimate of outstanding claims liability
  • Evidence of reinsurance for a single event that will cover your future liability
  • Evidence that you have a place of business in the Australian Capital Territory.

Please consult the Contact Officer for more information regarding eligibility requirements.

Duration

Three years.

Fees

 TypeAmount
ApplyApplication$7,983.00
Licence$7,983.00

Administering agency

Chief Minister, Treasury and Economic Development Directorate
Access Canberra
WorkSafe ACT

Act(s) name

Workers Compensation Act 1951 (Australian Capital Territory)

Regulation(s) name

Workers Compensation Regulation 2002 (Australian Capital Territory)

Contact details

General Enquiries
Chief Minister, Treasury and Economic Development Directorate
Access Canberra
WorkSafe ACT

Phone:

02 62073000

Fax:

02 62050336

Supporting information

Disclaimer

The information contained on the Australian Business Licence and Information Service (ABLIS) web site, or via packages or other sources is intended for general guidance only.

To the full extent permitted by law, the Federal, State, Territory and Local Governments make no representations or warranties (expressed or implied) in relation to the information, including its accuracy, currency or completeness.

The business information provided does not constitute professional or legal advice, nor is the use of any third party resource an endorsement of the information contained, the associated organisation, product or service. It is recommended that you obtain appropriate professional and /or independent legal advice to ensure that the material provided here is relevant to your particular circumstances.

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