A self-insurer is an employer approved by WorkSafe Victoria to manage their own workers compensation claims and have full responsibility for meeting liabilities to their employees.
An employer that is a body corporate (such as a company or other organisation) may apply for approval as a self-insurer (sole traders cannot apply for approval) for its workers. This includes workers employed by subsidiaries of the body corporate, if the body corporate is a holding company.
Any Victorian employer that pays more than $7500 a year in wages, or employs apprentices or trainees, is legally required to take out WorkSafe insurance.
An employer that is approved as a self-insurer is not required to hold a WorkSafe insurance policy, but instead is required to bear the costs and risks of its own workers compensation claims.