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Self-insurance performance system

VWA's self-insurance performance system aims to support constructive, accountable, transparent and effective regulation of self-insurers in Victoria.

The performance system provides a framework for self-insurers to receive:

  • An understanding of VWA's expectations of performance
  • Annual performance reports including benchmarking of performance against relevant industries (where available)
  • A clear indication of performance against VWA expectations
  • Constructive and effective assistance from VWA where required

Within the performance system, self-insurer performance is reviewed through:

  • A standard set of performance indicators that are interpreted in light of an organisation's specific circumstances
  • Providing self-insurers with acknowledgement of high performance and early warning of performance issues
  • Supporting self-insurers' understanding of the potential consequences if high performance is not reached and maintained

Performance evaluation

The elements of the self-insurance performance system are outlined below.

Diagram of fit and proper assessment including Audit Framework, Indicatoris, Reporting, Process, Systems and Data, and Triggers and Consequences model.

Definitions

Fit and proper assessment

VWA may approve an application by an employer to become a self-insurer if the body corporate applying is considered to be 'fit and proper'.

Indicators

A set of performance indicators that VWA uses to assess whether an body corporate is 'fit and proper' to self-insure.

Reporting

Ongoing reporting, based on the performance indicators, that enables self-insurers to gauge their performance against VWA's expectations.

Audit framework

An audit framework that identifies strengths and areas for improvement.

Triggers and consequences model

A framework for responding to self-insurer performance issues.

Process, systems and data

The supporting processes, systems and data that inform and enable the self-insurance performance system.