QGIF is in effect a self-insurance scheme of Government departments and eligible statutory authorities. It is not available to either Government-owned corporations or entities outside of the Queensland Government.
It is compulsory for all Government departments to participate in QGIF. Participation by statutory authorities is optional; however, their participation is subject to Queensland Treasury approval.
QGIF was established to cover the assets and liabilities of the State of Queensland but it is important to note that the policy cannot be extended to cover any non-State Government entities. In circumstances where an insured agency participates as a joint venture/alliance partner with a non-State Government entity then QGIF will be unable to offer any insurance coverage to the joint venture/alliance.
QGIF's role is to provide advice to the Queensland Government on its insurance needs but QGIF does not act in an advisory capacity to Alliances or Joint Ventures. QGIF does not operate on a fee for service basis.