About Comcover

Comcover is the Australian Government's self-managed insurance fund.

Comcover came into being on 1 July 1998 and replaced the policy of non-insurance that had been in place since the early years of Federation and offered public sector organisations little incentive to manage their risks effectively.

Comcover is modelled on the best managed insurance funds in Australia and overseas and its creation signalled the start of a more modern and cost-effective approach to managing insurable risks within the Australian Government.

A managed fund is a form of self-insurance that operates by collecting premiums from participating Fund Members (Australian Government entities that are classified to the General Government Sector), accumulating reserves, and meeting future losses from those reserves.

More than 170 Fund Members are insured through Comcover. Fund Members purchase cover for all normally insurable risks, with the exception of workers' compensation, which is the responsibility of the Australian Government's Comcare program.

Comcover does not offer cover nor issue premium invoices to private organisations or individuals.

Comcover is managed by the Assistant Secretary of the Risk and Claims Branch within the Department of Finance.

Comcover's Vision and Purpose

Comcover aims to ensure that Fund Members have a comprehensive program of cover for insurable risks. Comcover facilitates the integration of risk management into government functions and operations by providing comprehensive and responsive risk management and insurance services to its Fund Members.

Comcover works in partnership with its Fund Members to promote a risk management culture and deliver an effective insurance program across the Australian Government.

The key business objectives for Comcover are:

  1. promoting best practice risk management to its Fund Members to improve policy formulation and delivery of Australian Government programs and services, so as to deliver a net benefit to the Budget over the longer term; and
  2. providing a comprehensive insurance fund to protect Fund Members against the impact of insurable losses.

Comcover has developed strong working relationships with several service providers that perform services for our Fund Members, the table below provides some examples: 

Provider Services Provided
Gallagher Bassett Claims Management
Gallagher Australia Relationship Management
Gallagher Australia Insurance Brokerage
Major Training Services Learning and Development
Deloitte Risk Services
International SOS Overseas Medical and Travel Assistance

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