Comcover is the Australian Government’s general insurance fund. It is administered by a branch within the Department of Finance and Deregulation for the benefit of Fund Members. Comcover commenced operation on 1 July 1998. Comcover’s purpose is to work in partnership with Fund Members to promote a risk management culture and deliver an effective insurance program across the Australian Government. A managed fund is a form of self-insurance that operates by collecting premiums from participating Fund Members and accumulating reserves in order to meet future losses from those reserves.