Apply for a licence extension
Self-insurance licences are normally granted for eight years. If you would like to extend your Safety, Rehabilitation and Compensation Act 1988 (SRC Act) coverage beyond that time, you will need to apply for a licence extension.
The process explained
The licence extension process is similar to the initial self-insurance licence application process. It covers areas such as:
- financial and prudential position
- how adequately claims, rehabilitation and prevention management systems were managed during the term of the initial self-insurance licence
- performance in managing claims and rehabilitation.
When assessing a licence extension, we focus on the self-insured licensee’s performance trends over time and whether the licensee has consistently demonstrated that it meets the SRCC’s performance standards and measures.
Comcare assesses the licence extension application and makes a recommendation to the SRCC. If granted, an extension is normally granted for an additional eight years.
There is no limit on the number of self-insurance licence extensions the SRCC may grant.
Contact us for guidance on preparing an application for extension or if you have a query about self-insurance or the SRCC’s regulation of self-insurance licences:
- email email@example.com
- call us on 1300 366 979.