On 2 December 2013, the Minister for Employment Senator the Hon. Eric Abetz, announced the lifting of the moratorium placed on private corporations seeking a declaration of eligibility to apply to self-insure under the SRC Act.
Under the Commonwealth workers’ compensation scheme, a self-insurer is an organisation approved by the Safety, Rehabilitation and Compensation Commission (SRCC) to meet the cost of its workers’ compensation liabilities and manage its own workers’ compensation claims.
Certain Commonwealth authorities and eligible private corporations may apply for a licence to self-insure under the SRC Act.
Becoming a licenced self-insurer – private corporations
Becoming a licensee under the SRC Act is a two-step process which requires a corporation to:
- apply to the Minister for Employment for a declaration of eligibility to be granted a licence to self-insure under the Act. To be declared eligible, applicants must demonstrate they are in direct competition with a Commonwealth Authority and meet the criteria within the Minister’s Guidelines. Detailed information on the application process can be found in the Application Process fact sheet.
- submit an application for a license to self-insure workers’ compensation obligations to the SRCC.
A flowchart summarising the steps involved in applying for a licence to self-insure can be found at the SRCC website.
Information on the process to apply for a licence, once granted a declaration, is available on the SRCC website.
Further information on the Commonwealth workers’ compensation scheme can be found at the Comcare website.