Workers Compensation Act 1987

If an insurer requests the Minister to make a declaration under section 239AD, the Authority may from time to time, by notice in writing to any insurer (specifying the act in respect of which the declaration is sought), require the insurer to provide the Authority with information in relation to that act in accordance with this section.

The information is to be provided, in writing, no later than 21 days after the notice is served on the insurer.

The following information is to be provided—

a statement as to whether the insurer has, as an insurer, incurred any liability for payment as a result of the act specified in the notice,

if the insurer has incurred such a liability—

details of any claims received by the insurer in respect of the liability,

details of any amount paid in respect of those claims,

an estimate (calculated in accordance with the method specified in the notice) of any further amount that the insurer will be required to pay (in respect of both claims already received by the insurer and anticipated claims),

details of any contracts or arrangements for re-insurance that are in force to the benefit of the insurer in connection with any such liability,

such other information as may be prescribed by the regulations.

If the insurer subsequently has reason to revise any information provided under this section, the insurer is required to furnish the Authority with the revised information in accordance with the Workers Compensation Guidelines (which may make provision with respect to the furnishing of that information).

An insurer who fails to comply with a requirement under this section is guilty of an offence.