Overview of Self Insurance under the SRC Act
Under the Commonwealth workers’ compensation scheme, a self insurer (or licensee) is an organisation approved by the Safety, Rehabilitation and Compensation Commission (the SRC Commission) 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 Safety, Rehabilitation and Compensation Act 1988 (SRC Act). Licensees under the SRC Act are also covered by the Commonwealth’s Occupational Health and Safety Act 1991, thereby providing consistent health and safety arrangements.
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Government announces moratorium on new companies joining Comcare The Australian Government has placed a moratorium on new applications from private sector corporations wanting to move to the Comcare workers’ compensation scheme. The moratorium on new applications applied from 11 December 2007. More information on the moratorium can be found on the SRC Commission website. |
Click on the links below for further information about self insurance under the SRC Act
- Becoming a licensee under the SRC Act
- Step 1: Eligibility for self insurance
- Step 2: Applying for a self insurance licence
- How a licence application is considered
- Self insurance regulatory framework
- Licence conditions and performance standards
- Prudential and financial conditions of licence
- OHS performance
- Evaluating licence compliance
Page last updated:May 22, 2008