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SRCC grants self-insurance licences to Medibank companies

On 12 September 2014, the Safety, Rehabilitation and Compensation Commission (SRCC) granted self-insurance licences to Medibank Private Limited and Medibank Health Solutions Pty Ltd.

As these two companies are already premium payers in the Commonwealth scheme, they will continue their current coverage for workers’ compensation, rehabilitation and work health and safety. The licences will commence from 3 November 2014 and expire on 30 June 2017.

The licences were granted under the Safety, Rehabilitation and Compensation Act 1988 (the SRC Act).

In reaching its decision to grant the licences, the Commission was satisfied that Medibank Private Limited and Medibank Health Solutions Pty Ltd met the requirements of the legislation in respect of their financial capacity to discharge their liability to pay compensation in respect of their employees, their capacity to meet the Commission’s standards for claims management, and that the granting of the licences is not contrary to the interests of their employees. Importantly, the companies met the high standards set by the Commission for the work health and safety and rehabilitation of their employees.

Page last updated: 22 Sep 2014