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
The elements of the self-insurance performance system are outlined below.
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'.
A set of performance indicators that VWA uses to assess whether an body corporate is 'fit and proper' to self-insure.
Ongoing reporting, based on the performance indicators, that enables self-insurers to gauge their performance against VWA's expectations.
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.