168AContributions to DI fund by licensed insurers and

168A Contributions to DI fund by licensed insurers and licensed self-insurers (1) Each year, the DI fund manager must determine the yearly contribution (the annual insurer contribution) licensed insurers and licensed self-insurers must make to the DI fund based on the (a) the DI fund manager’s assessment of the DI fund’s— (i) existing and expected liabilities; and (ii) assets; (b) the total of the following amounts for the last completed policy period: (i) the gross written premiums for each licensed insurer; (ii) the notional gross written premium for each licensed self-insurer; (c) the amount required to be paid into the DI fund to ensure the sustainable functioning of the fund. (2) The DI fund manager may— (a) apportion liability for the annual insurer contribution among licensed insurers and licensed self-insurers; and (b) determine whether a licensed insurer’s or licensed self-insurer’s apportioned liability must be paid— (i) quarterly; or (ii) if the DI fund manager considers it necessary for the sustainable functioning of the DI fund—within a time stated by the DI fund manager. Contributions to DI fund Division 8.2.4 (3) The DI fund manager must state the apportioned liability of the annual insurer contribution as a percentage of— (a) for a licensed insurer—the gross written premiums for the insurer; or (b) for a licensed self-insurer—the notional gross written premium for the self-insurer. (4) If the DI fund manager makes an apportionment for a period, the manager must give each licensed insurer and licensed self-insurer a written notice that— (a) sets out details of the apportionment; and (b) requires the insurer or self-insurer to pay to the DI fund the amount apportioned to the insurer or self-insurer within the time for payment stated in the notice. Note A licenced insurer issuing a compulsory insurance policy to an employer must include information about the proportion of the premium that is to offset an amount paid by the insurer to the DI fund for the policy (see Workers Compensation Regulation 2002, s 62A). (5) The time stated for payment in the notice must not be shorter than 30 days after the day the licensed insurer or licensed self-insurer receives the notice. (6) The DI fund manager may amend or revoke a notice given under this section. (7) If an amount apportioned to the licensed insurer or licensed self-insurer is not paid within the time stated for payment in the notice, the amount is a debt owing to the DI fund by the insurer or (8) The DI fund manager must pay into the DI fund each amount received or recovered under this section from a licensed insurer or licensed (9) In this section: policy period means the period beginning on 1 July in a year and ending on 30 June in the following year. 168AA Supplementary contributions to DI fund by licensed insurers and licensed self-insurers (a) the DI fund manager has made a determination of the annual insurer contribution for a year under section 168A (1); and (b) after the determination was made an unusual claim or class of claim (an unexpected claim) that was not reasonably foreseeable at the time the determination was made— (i) is brought against the DI fund in the year; and (ii) is, in the opinion of the DI fund manager, a claim that will be settled in the year; and (c) the DI fund manager is of the opinion that the DI fund cannot meet the cost of the unexpected claim. (2) The DI fund manager must determine and apportion a supplementary annual insurer contribution that licensed insurers and licensed self- insurers must make to the DI fund to allow the fund to meet the cost of the unexpected claim for the year. (3) Section 168A (2), (3) and (4) apply to the apportionment of a supplementary annual insurer contribution under this section as if the contribution were an annual insurer contribution. DI fund’s relationship with liquidators of licensed insurers Division 8.2.5 Division 8.2.5 DI fund’s relationship with liquidators of licensed insurers