For insurers and self insurers to operate in the Northern Territory workers compensation scheme they must be approved by NT WorkSafe

In deciding whether to give approval the Authority will consider the following factors:

• the ability of the insurer or self insurer to provide the necessary insurance service, including its ability to meet time limits imposed by the legislation;
• the likely market share of the insurer and its likely effect on its cost efficiency in supplying the service;
• the financial viability of the insurer or self insurer; and
• the insurer or self insurer’s ability to provide the statistical and other information required or likely to be required under the legislation.

To ensure consistency of claims service approved insurers and self insurers must agree to comply with NT WorkSafe’s Best Practice Guidelines.