Insurance Scheme Exemption requires employee consent, superior group cover, compliance reporting, inspections, and protection against insurer default.

Exemption requires majority employee consent, an approved group insurance policy for all employees, and employer certification of more beneficial coverage without employee premium payments. Applications must be made in advance and exemptions operate prospectively. Exempt establishments must protect assurance benefits where an insurer defaults, maintain records, submit monthly returns, facilitate inspection, and settle claims within prescribed timeframes. Exemptions last three years unless cancelled or surrendered, while more beneficial Scheme amendments apply automatically pending policy revision. Breach may result in cancellation after a show-cause notice.

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