New South Wales Consolidated Acts

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WORKERS COMPENSATION ACT 1987 - SECT 168

Workers Compensation Market Practice and Premiums Guidelines

168 Workers Compensation Market Practice and Premiums Guidelines

(1) The Authority may issue guidelines with respect to policies of insurance (the
"Workers Compensation Market Practice and Premiums Guidelines" ).
(2) The Workers Compensation Market Practice and Premiums Guidelines may (without limiting the generality of subsection (1))--
(a) require insurers to file with the Authority premiums for classes of employers in such manner, and at such times, as may be specified in the Guidelines, and
(b) require licensed insurers to specify how they have determined premiums, and
(c) require licensed insurers to provide additional information with the premiums they file or to justify the premiums they have filed.
(3) The Authority may amend, revoke or replace the Workers Compensation Market Practice and Premiums Guidelines.
(4) The Authority is--
(a) to consult licensed insurers before it issues, amends or replaces the Workers Compensation Market Practice and Premiums Guidelines, and
(b) to provide reasonable notice of any amendment to the Guidelines before the amendment takes effect.
(5) The Workers Compensation Market Practice and Premiums Guidelines may--
(a) adopt the provisions of other publications, whether with or without modification or addition and whether in force at a particular time or from time to time, and
(b) apply generally or be limited in their application by reference to specified exceptions or factors or apply differently according to different factors of a specified kind (or do a combination of those things).
(6) It is a condition of the licence of an insurer (including the Nominal Insurer) that the insurer--
(a) complies with the Workers Compensation Market Practice and Premiums Guidelines, and
(b) does not charge an insurance premium that is rejected under section 169.



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