What provisions apply to the licensing of insurers?

In considering licence applications from insurers, the Board is to be satisfied that the insurer:

• will provide the necessary insurance service, including the ability to meet time limits imposed by the Act
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• will set premiums that reflect:
• • the claims experience of an employer
  • an employer’s commitment to workplace health and safety
  • an employer’s agreement to provide suitable alternative duties to injured workers
  
  
• is financially viable
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• will commit an appropriate level of resources in this State to manage claims for compensation in a manner that furthers the objective of rehabilitating injured workers
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• will involve an employer in the management of claims for compensation
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• will deal directly with an employer in the setting of premiums and the management of claims
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• will provide statistical and other information required or likely to be required.

The Board may also grant permits to employers to self-insure, if they are able to satisfy certain criteria.Licences or permits are granted for periods of up to three years and are subject to review when applications for renewal are made.

The Board may at any time, and subject to a right of appeal to the Supreme Court of Tasmania, revoke or suspend a licence or permit where it is satisfied that certain circumstances exist. These circumstances may include failure to comply with any provision or requirement of the Act or any determination of the Tribunal.