The Lifetime Support Authority (LSA) is established under the Motor Vehicle Accidents (Lifetime Support Scheme) Act 2013. The LSA administers the Lifetime Support Scheme (LSS), which is funded by a levy applied to all South Australian motor vehicle registrations from 1 July 2014. It is part of an Australia-wide agreement to create a better insurance scheme for those who sustain serious lifelong disabilities in car accidents.

The LSA seeks to source and appoint a suitably qualified reinsurance broker to advise on, structure, negotiate and place reinsurance cover for the LSS from 1 July 2026, in order to mitigate against the risk of decline in the LSA’s funding position from a range of adverse outcomes (e.g. injury severity, age or number of participants) compared to modelling undertaken by the Scheme Actuary.

The expected outcome of this procurement is the engagement a suitably qualified reinsurance broker with the requisite capabilities and in-depth knowledge of domestic and international insurance and reinsurance markets to meet the Request requirements by providing the best value for money outcome.

The brokerage contract will commence in late 2025 for placement of reinsurance (at the LSA’s discretion) effective from 1 July 2026. The brokerage contract will be for a base term of 24months, to cover the placement of reinsurance as required through to 30 June 2028. The contract will also include a 24-month extension option, for reinsurance coverage to 30 June 2030.

Last query date: 10 June 2025