Workers Compensation Regulation 2016

An injured worker who wishes to enter into a commutation agreement in accordance with the 1987 Act, section 87EA(2) must, within 18 months after the commencement day, give the worker’s insurer or employer an expression of interest in the form approved by the Authority.

An employer must, within 3 business days after receiving an expression of interest, give the expression of interest to the worker’s insurer.

An insurer must, within 10 business days after receiving an expression of interest from the employer, give the injured worker written notice—

confirming receipt of the expression of interest, and

if information in the expression of interest form is missing or incomplete—specifying the missing or incomplete information, and

informing the worker a commutation agreement cannot be entered into unless the worker has received independent legal advice about—

the full legal implications of the agreement, and

the desirability of the worker obtaining independent financial advice before entering into the agreement, and

informing the worker a commutation agreement for more than $100,000 cannot be entered into unless the worker has received independent financial advice, and

that the insurer will pay up to $2,500 for the worker to receive independent financial advice, and

informing the worker of the process the insurer will follow to process the expression of interest and the expected time for each step in the process, and

giving the worker the name and contact details of an employee of the insurer who can respond to questions and concerns the worker may have about commutation.

Subclause (3)(d) and (e) do not apply to a class 3 case.