How to become a self-insurer
To become a self-insurer, you must be assessed by WorkSafe as being 'fit and proper'.
The assessment is based on:
- your financial strength and viability
- your resources to administer claims
- your incidence of injuries and claims costs
- safety of your working conditions
- your compliance with relevant legislation
- any other matters WorkSafe thinks fit.
Initial approval to self-insure is given for a period of three years, thereafter four years, unless WorkSafe uses its discretion to grant approval for six years.