Financial ability

Self-insurers must demonstrate ongoing financial ability and strength to meet their workers compensation obligations for licence continuity.

They need to have sufficient resources to cover their past and future financial obligations, and be of sufficient size to provide the necessary security and obtain and maintain reinsurance policy to mitigate the risk of insolvency.

Self-insurers must prepare and lodge a copy of their annual report (including audited financial statements) each financial year.


Unless you are an exempt employer (such as a government employer), you must provide financial security to ensure your workers are covered and other employers in NSW are not forced to meet the cost of claims should you be unable to meet workers compensation liabilities under your licence.

Security is determined by referencing the annual actuarial report provided to SIRA in accordance with our self-insurer requirements.


You must obtain and maintain unlimited reinsurance cover to restrict liabilities to a maximum amount for any one event.