You will need this licence to manage your own workers' compensation claims instead of paying workers' compensation premiums to the agency. Workers compensation is a system where an employer pays, or provides insurance to pay, the lost wages and medical expenses of an employee who is injured on the job.
This licence may be granted to an employer (single licence) or to a holding company and all wholly owned subsidiaries (group licence). Gaining this licence will provide you with full responsibility for the payment of claims liabilities and for the management of those claims. You will also be liable for any associated risk.
Self-insurance is only available to large organisations that employ at least 2000 full-time employees in Queensland.