Self-Insurance Performance System
WorkSafe Victoria’s Self-Insurance Performance System (SIPS) aims to support constructive, accountable, transparent and effective regulation of self-insurers in Victoria on an ongoing basis.
SIPS provides a framework for self-insurers to receive:
- an understanding of WorkSafe’s expectations of performance;
- annual performance reports including benchmarking of performance against relevant industries (where available);
- a clear indication of performance against WorkSafe expectations; and
- constructive and effective assistance from WorkSafe where required.
Within SIPS, self-insurer performance is reviewed through a standard set of performance indicators that are interpreted in the light of an organisation’s specific circumstances. SIPS provides self-insurers with acknowledgement of high performance and early warning of performance issues. SIPS also supports self-insurers’ understanding of the potential consequences if high performance is not reached and maintained.
The elements of SIPS are shown in the diagram below and can be summarised as follows:
Fit and Proper Assessment
WorkSafe may approve an application for approval as a self-insurer if the organisation applying is considered to be fit and proper, following an assessment based on a set of matters specified in the Accident Compensation Act 1985 (VIC) (the “ACA”).
Indicators
A set of performance indicators that WorkSafe uses to assess whether an organisation is fit and proper to self-insure within the meaning of the ACA and WorkSafe’s performance expectations.
Reporting
Ongoing reporting, based on the performance indicators, that enables self-insurers to gauge their performance against WorkSafe’s expectations within the fit and proper matters.
Audit Framework
An audit framework that identifies strengths and areas for improvement.
Trigger and Consequences Model
A framework for responding to self-insurer performance issues.
Process, Systems and Data
The supporting processes, systems and data that inform and enable SIPS.
