Queensland Consolidated Regulations

WORKERS' COMPENSATION AND REHABILITATION REGULATION 2014 - REG 43

43 Payment of amount

(1) The old insurer must pay the total liability amount to the new insurer for the total liability—

(a) agreed to by the old insurer and the new insurer; or

(b) if there is no agreement—decided by the arbiter.

(2) The old insurer must pay the total liability amount—

(a) within 3 months after the consent day; or

(b) on a later day agreed to by the parties.

(3) The old insurer’s actuary must adjust the liability amount paid to the new insurer to take into account—

(a) compensation and damages payments made between the assessment day and the day the new insurer assumes liability; and

(b) claims lodged against the employer or member between the assessment day and the day the new insurer assumes liability.

(4) The old insurer must advise the Regulator of the following no later than the day the total liability amount is paid—

(a) the total liability amount;

(b) the day the new insurer assumes liability;

(c) details of the parties and the member leaving or becoming part of the self-insurer.