You should apply to the WorkCover Tasmania Board within 120 days of the date you wish to cease being a licensed insurer.
Applying to WorkCover: What to submit
If you wish to surrender your licence to insure, you will need to apply to the WorkCover Board for approval. You will need to provide certain information in support of your application:
- a detailed explanation of your intended claims management strategy. Explain how existing claims and incurred but not reported claims will be managed if your licence is cancelled. Include financial claim management details, injury management details, and advice of the existence of return to work plans
- a communication plan. Explain how the employers you cover will be notified of the cessation of insurance, and what practical effect this will have for them. State your intention to send a broadcast letter to your clients, and individual letters to any worker with an existing claim.
The Board may require you to provide more information or complete certain before it can decide your application.
Your licence conditions also include ensuring the ongoing provision of data to WorkCover should you cease to hold a licence to insure.
The Board’s decision
After considering your application and submitted information, the Board will determine the effective date for the licence to end.
Depending on when you surrender the licence, you may receive reimbursement for all or part of your contribution made to the Workers Rehabilitation and Compensation Fund.