The legislative explanation of what is Self Insurance in Queensland is covered in Chapter 2 Part 4 Employers’ self-insurance of the Queensland Workers’ Compensation and Rehabilitation Act of 2003.
In short, Self Insurance allows an employer, under a licence, to provide their own accident insurance for their workers instead of insuring with Work Cover.
Licences are issued and regulated by the Workers’ Compensation Regulator. To obtain a Self Insurance licence an employer must meet various requirements relating to financial viability, size of operation (minimum 2000 employers), Occupational Health and Safety standards, and the ability to provide high quality Injury Management and claims administration.
An Employer must be deemed fit and proper to be a Self Insurer by the Workers’ Compensation Regulator. Check out the Workers’ Compensation Regulator website for more details in regards to Self Insurance licensing.