SRCC grants self-insurance licence
The Safety, Rehabilitation and Compensation Commission (the Commission) yesterday granted a licence to self-insure under the Commonwealth’s workers’ compensation scheme to BIS Industries Limited. The licence will commence on 1 October 2008.
The Safety, Rehabilitation and Co mpensation Commission (the Commission) yesterday granted a licence to selfinsure
under the Commonwealth’s workers’ compensation scheme to BIS Industries Limited. The licence will commence on 1 October 2008.
The licence is granted under Part VIII of the Safety, Rehabilitation and Compensation Act 1988 (the SRC Act) and ensures that employees of BIS Industries will be covered by the Comcare occupational health and safety, rehabilitation and workers’ compensation scheme.
In reaching its decision to grant the licence, the Commission was satisfied that BIS Industries met the requirements of the legislation in respect of its financial capacity to discharge its liability to pay compensation in respect of its employees, its capacity to meet the Commission’s standards for claims management, and that the granting of the licence is not contrary to the interests of its employees.
Importantly, the company met the high standards set by the Commission for the occupational health and safety and rehabilitation of its employees.
The Commission noted that the Deputy Prime Minister and Minister for Employment and Workplace Relations, the Hon Julia Gillard MP, had announced a moratorium on the acceptance of new applications from private sector corporations wanting to move to the Comcare scheme. The Deputy Prime Minister also announced that applications from companies that had already been declared eligible to apply for a self-insurance licence should be considered on their merits. BIS
Industries had been declared eligible to apply for a licence before the announcement of the moratorium.
The Commission also took into account information concerning the licence applications provided by a range of stakeholders, including relevant unions and State and Territory OHS regulators.
Les Taylor
Chairman
Safety, Rehabilitation and Compensation Commission
Media enquiries to Elizabeth Mail
media@comcare.gov.au or 1300 366 979
Media Release - SRCC Grants Self-Insurance Licence [pdf version]
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