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.
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