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Outcomes from 31 March 2021 Commission meeting
Below are the outcomes from the 31 March 2021 Commission meeting.
Grant of licence to Australia and New Zealand Banking Group (ANZ) Limited
The Commission agreed to grant Australia and New Zealand Banking Group Limited (ANZ) a self-insurance licence under section 102 of the Safety, Rehabilitation and Compensation Act 1988 contingent on the provision of a suitable guarantee and reinsurance policy.
The Commission agreed that the licence will commence from 12.01am Australian Eastern Standard Time on 1 June 2021 for a period of eight years ending at midnight Australian Eastern Standard Time on 30 June 2029.
Self-insurance licence variation application
The Commission agreed to vary the licence of Virgin Australia Airlines Pty Ltd by replacing Employers Mutual Limited with QBE Insurance (Australia) Limited as the contracted claims manager and reviewer, from 1 July 2021.