Some businesses can significantly reduce Workers Compensation costs through self-insurance and deliver better outcomes for their injured workers.

Assess and explore your potential for self insurance

Self insurance is an ideal solution for some businesses and not suitable for others. We can help you explore and advise on your businesses eligibility, the practicalities, challenges, likely costs and overall viability of self-insurance.

If self-insuring is in your businesses best interests, we can then guide you through the transition process and help you prepare for the eligibility assessments. Once achieved, we also provide ongoing internal and external auditing.

Eligibility and Viability

We regularly advise on:
    Company Structure

  • Financial Eligibility
  • Injury and Claims Management
  • Safety Systems
  • Information Management

  • Cost / benefit versus Premium Paying
  • Cost and effort required to attain Self Insurance
  • Recurrent Costs

Each state and jurisdiction has its own assessors and assessment and approval process.

The rigour and complexity of assessment varies significantly.

Risk Strategies helps with preparation – significantly reducing the time and effort required. We also guide you to make the right decisions.

Do not underestimate the effort required to prepare for self-insurance.

Most regulators require that systems are in place and demonstrably effective before allowing self-insurance to commence.

Each has its own standards and assessment methodologies. To maximise the benefits of self-insurance, business processes including checks and balances, must be in place. Risk Strategies can help you greatly reduce the time and effort required.

Audit plays an important role in self-insurance management.

Regulators audit safety, rehabilitation and compensation management and prudential compliance as a licence condition.

In extreme cases licences are revoked. Audit is also a useful management tool. We provide internal and external audit preparation services across the range required by regulators to assist businesses prepare for external audits and their own continuous improvement.

Whether you are insured or self-insured, there is usually scope for improvement.

For self-insurers, the motivation to improve is direct – every improvement helps the business.

We have helped many self-insurers maintain or renew their focus with very positive outcomes including: significant cost reductions; resource reorientation to improve return to work outcomes and prevention focus; removal of duplicated effort in administration; tightening of financial controls to address overpayments.


Companies eligible to self-insure reap rewards like reduced workers compensation costs by no longer having to cross-subsidise other employers in the scheme. Being self-insured allows a business to have full control of claims management. It is generally accepted that workplace-based injury management delivers better claim outcomes. This benefits both the injured worker and the employer.

Proven experience and expertise

Over the last decade we’ve worked with businesses in all sectors to assist them with assessing the feasibility of self insurance, including Building and Construction, Manufacturing, Property, Waste Management, Transport and Logistics, Aged Care, Agriculture, Gig Economy businesses and everything in between.