The Nominal Insurer
The Nominal Insurer provides a safety net for injured workers left without compensation if their employer isn’t insured or is bankrupt, or if their employer’s insurer is insolvent.
This protection is funded by every Tasmanian employer who either gets a workers compensation insurance policy from a licensed insurer, or becomes a self-insurer.
The Nominal Insurer then attempts to recover the amount paid from the employer or insurer involved. For more information email the Nominal Insurer.
Insurers’ contributions to the Nominal Insurer
The amount insurers need to pay is determined by the Nominal Insurer and distributed across all insurers, according to market share.
- For licensed insurers, the premium income for the policies of insurance received during the previous financial year will be used to determine contributions.
- For self-insurers, notional premium income (see information SI-8) will be used to determine contributions.
The Nominal Insurer will advise you of the actual contribution you need to make.