Western Australian Numbered Acts Western Australian Numbered Acts (1) In this
Division —
notional premium income , of a self-insurer for a
financial year, means the amount estimated by WorkCover WA as the amount that
the self-insurer would have been liable to pay as the premium for a workers
compensation policy that would have been required under this Act for the
financial year had the self-insurer not been a self-insurer;
premium income , of a licensed insurer for a
financial year, means the total amount of the premium income of the insurer
(whether received by or owing to the insurer) in respect of workers
compensation policies issued or renewed during the financial year excluding
any part of those premiums paid by way of reinsurance to any other licensed
insurer;
total annual contribution , for a financial year,
means an amount equal to the estimate approved under section 489 for the
financial year.
(2) WorkCover
WA’s estimate of the notional premium income of a self-insurer for a
period must be made on the basis of the recommended premium rate applicable to
the industry classification appropriate to the self-insurer and the
remuneration of workers of the self-insurer for that period.
(3) If an employer is
a self-insurer for only part of a financial year, the notional premium income
of the self-insurer for the financial year is the amount estimated by
WorkCover WA as the amount that the employer would have been liable to pay as
the premium for a workers compensation policy that would have been required
under this Act for that part of the financial year had the employer not been a
self-insurer.