Table 8.3d: Minor schemes — South Australia

Administered by

Purpose

Coverage

Number covered

Basis for legislation

Statutory reserve fund (clause 61 of schedule 9 of the RTW Act)

ReturnToWorkSA

• The Statutory Reserve Fund was established under the repealed Workers’ Compensation Act 1971 and came into operation in 1980 against which claims relating to workers compensation liabilities could be made in the event of the insolvency of an insurance company or the insolvency of an uninsured employer. The Fund was re-established under Schedule 1, Clause 5 of the Worker’s Rehabilitation and Compensation Act 1986 and continues in its existence pursuant to clause 61 of Schedule 9 of the Return to Work Act 2014. The Fund forms a separate part of the Compensation Fund of the Return to Work Scheme.
• The Statutory Reserve Fund is required to meet any liability arising from a shortfall of the Insurance Assistance Fund.

Statutory workers’ compensation benefits and liabilities at common law in respect of injury prior to 4.00pm 30 September 1987.

N/A

To provide protection of injured workers arising under the Workers’ Compensation Act 1971 in the event of the insolvency of an insurance company or an uninsured employer.

Insurance assistance fund (clause 62 of schedule 9 of the RTW Act)

ReturnToWorkSA

• The Insurance Assistance Fund continues to be held as a separate part of the Compensation Fund.
• The Insurance Assistance Fund was established under Schedule 1 Clause 5A of the Workers Rehabilitation and Compensation Act 1986 and continues in its existence pursuant to clause 62 of Schedule 9 of the Return to Work Act 2014. The Fund supports policies issued under s118g of the repealed Workers’ Compensation Act 1971. As 118g policy relates to a policy of workers’ compensation insurance issued by the State Government Insurance Commission as insurer of last resort at a determined premium

Statutory workers’ compensation benefits and liabilities at common law in respect of injury prior to 4.00pm 30 September 1987.

N/A

To provide assistance to an employer to meet its obligation to be insured under the repealed Workers’ Compensation Act 1971 in cases where an employer was unable to obtain satisfactory workers’ compensation insurance from within the open insurance market.