Approval of a Worker's Compensation Insurer - Australian Capital Territory

Service summary

You will require this approval if you intend to provide Worker's Compensation Insurance in the Australian Capital Territory. An approved insurer's responsibilities include:

  • The establishment, maintenance and implementation of injury management programs
  • The provision, coordination and management of the claims management process
  • The rejection or acceptance of injury claims and the payment of compensation when a claim is made
  • Continued contact with the injured worker, employer, and other involved parties.

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:

  • Have a place of business in the Australian Capital Territory
  • Provide a written statement that you will be able to meet all present and future claims for workers compensation
  • Provide evidence that you have reinsurance, or other arrangements in place, to cover future liability
  • Provide a copy of your annual report and balance sheet for each of the previous three years
  • Provide a written agreement allowing the Minister to discuss your performance as an insurer with Commonwealth or State Ministers responsible for workers compensation
  • Provide a written agreement to provide information and fees, as required, for a compliance or financial audit
  • Provide a written statement that you will comply with the Act and regulation and any conditions of approval.

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

Duration

Three years.

Fees

 TypeAmountDescription
ApplyApplication$7,983.00
GeneralLicence$7,983.00

Approval for three years.

Application

Lodge

Documentation to be lodged with your application includes:

  • Evidence that you have a place of business in the Australian Capital Territory and that you are able to meet present and future claims
  • Evidence that you have adequate reinsurance or other arrangements to cover your future liability
  • A copy of your annual report and balance sheet for each of the previous three years
  • Written agreement to allow the Minister to discuss your affairs and performance with Commonwealth and State Ministers responsible for workers compensation or corporate or prudential regulation
  • Written agreement for an audit by the Minister (paid for by yourself) to establish that you have adequate resources to meet your current and expected liabilities
  • A written statement that you will be able to meet your obligations in relation to injury management programs and personal injury plans.

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.

To the full extent permitted by law the Federal, State, Territory and Local Governments, their employees and agents do not accept any liability for any reason, including without limitation, liability in negligence, to any person for the general information which is provided herein, or in respect of anything, including the consequences of anything done, or not done, by any such person in whole or partial reliance upon the information.