How Policies Are Created
For all employers with a Licence Class of “N” (premium paying employers), PRACSYS requires a current and valid Policy before it allows the registration of any claims.
There are three types of Policy:
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Premium Policy only,
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an OH&S Policy only and,
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combined Premium and OH&S Policy. The majority of Comcare employers have this type of Policy.
Each Policy has a start and cut-off date. No claims can be registered against the employer prior to the start date or after the cut-off date.
All Policies are renewed on 1 July each year.
Source URL: https://clik.dva.gov.au/military-compensation-reference-library/historical-information/comcare-operations-manual/volume-seventeen-account-management/part-three-pracsys-and-policy-management/policy-management-functions/how-policies-are-created