Western Australian Numbered Acts

WORKERS COMPENSATION AND INJURY MANAGEMENT ACT 2023 (NO. 21 OF 2023) - SECT 238

238 .         Adjustable premium policies

        (1)         In this section —

        adjustable premium policy means a workers compensation policy that provides for the adjustment of the premium for the policy during the period of insurance under the policy (with adjustments determined on the basis of the claims experience of the employer during the period of insurance).

        (2)         A licensed insurer must not issue an adjustable premium policy to an employer unless —

            (a)         the employer agrees to the issue of an adjustable premium policy; and

            (b)         the policy complies with any requirements prescribed by the regulations.

        (3)         The regulations may make provision for or with respect to —

            (a)         requiring licensed insurers to provide reports to WorkCover WA in respect of the issue of adjustable premium policies; and

            (b)         modifying the operation of section 203 in respect of adjustable premium policies.

        Note for this subsection:

                The regulation-making power in section 237(1) also applies to adjustable premium policies.

        (4)         Section 255 does not apply in respect of a premium payable under an adjustable premium policy.