Becoming a self-insurer

Self-insured employers provide accident insurance for their workers, instead of insuring with WorkCover Queensland. Q-COMP oversees self-insurance licensing in Queensland. You can apply to us to be a self-insurer whether you are a single or group employer—as long as you meet the criteria.

Before you apply, you need to pay a non-refundable fee to Q-COMP— $15,000 for single employers and $20,000 for group employers. We have six months to decide your licence application and usually it takes 3 months. We issue licences for periods of up to four years, with the initial licence being for 2 years.

Once you have your self-insurance licence you must:

• take on liability for outstanding WorkCover claims from before you received your self-insurance licence - this is assessed by actuaries appointed by you and WorkCover Queensland
• pay your annual levy to Q-COMP
• pay workers' compensable claims
• resource and manage workplace rehabilitation
• maintain adequate workplace health and safety systems and resources
• commit financial and management resources to comply with the legislation and any other licence conditions imposed by Q-COMP
• provide annual actuarial reports, and maintain bank guarantees and re-insurance
• renew your licence at least 90 days before the licence period ends.