Western Australian Numbered Acts

WORKERS COMPENSATION AND INJURY MANAGEMENT ACT 2023 (NO. 21 OF 2023) - SECT 231

231 .         Suspension, cancellation or surrender of licence

        (1)         WorkCover WA may, by notice served on the licensed insurer, suspend or cancel an insurer licence if of the opinion that the insurer —

            (a)         does not satisfy any of the criteria that must be satisfied for the grant of a licence; or

            (b)         has failed to comply with any provision of this Act or the regulations; or

            (c)         has failed to comply with any condition of the licence.

        (2)         A licensed insurer may request that WorkCover WA cancel an insurer licence and WorkCover WA may cancel the licence but only if satisfied that all accrued, continuing, future and contingent insurer liabilities of the insurer have been discharged or adequately provided for.

        (3)         For the purposes of subsection (2) —

        insurer liabilities , of an insurer, means liabilities of the insurer under workers compensation policies issued by the insurer.

        (4)         The cancellation or suspension of an insurer licence does not affect any liability of the insurer under a workers compensation policy issued by the insurer.

        (5)         While an insurer licence is suspended, the insurer cannot issue or renew a workers compensation policy but otherwise has the functions of a licensed insurer.