What is self-insurance?

Understand how self-insurance can help large businesses manage their own claims process.

Date last updated

Sunday 09 Feb 2020

Industries and topics
  • Insurance
  • Self-insurance

What is self-insurance

Self-insurance provides eligible employers with the option of managing and bearing the costs and risks of their own workers' compensation claims.

Just like insurance through a WorkSafe agent, self-insurance:

  • provides direct incentives to improve injury prevention and rehabilitation performance
  • ensures that workers are treated fairly and equitably
  • contributes to continuous improvement in health and safety and return to work performance.

Who is eligible for self-insurance?

To be eligible to be a self-insurer, you must:

  • be a body corporate, and not a subsidiary of another body corporate
  • satisfy minimum requirements regarding financial strength and viability and demonstrate that you are, and would be, capable of meeting your claims liabilities.

How do you apply for self-insurance?

You must firstly request an assessment of eligibility by WorkSafe. Once WorkSafe has declared that your organisation is eligible to apply, you can then submit a full self-insurance application.

If you are interested in applying to become a self-insurer, please contact WorkSafe.

The relevant forms you need to complete can be obtained directly from WorkSafe.

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