One thing that was certain in our minds leading into the NSW State Election was that whichever party was elected there would be resulting significant workers compensation changes. To put this in context, SA has undergone the largest changes in over 20 years. Comcare, the national scheme, faces widespread change to modernise and keep relevant. NSW has experienced dramatic change and with the return of the Liberal government the medium to large business changes are now almost certain. Similar to SA and when implemented in NSW, the changes will be the most significant seen in over 20 years. With privatisation front of the Baird government’s mind, debate has resurfaced as to if the recently sighted NSW WorkCover Insurance logo is an indication of a planned move to privatise the NSW scheme.
Our business growth is built on providing our clients and partners with tailored services/solutions. We choose to partner with select general insurance brokers in offering specialist workers compensation related services to their clients. We find businesses that choose to engage a broker benefit in numerous ways. Businesses can save money, improve cover, reduce risks and much much more.
Return To Work SA recently announced changes to the South Australian workers compensation scheme. The changes we outlined last August are the most dramatic in 20 years and have resulted in the scheme no longer being in deficit. The far reaching changes will result in the majority of businesses experiencing premium reductions from 1 July 2015.
Historically the decision to accrue (or the cheaper alternative not to accrue) leave entitlements for injured workers on workers compensation has been a grey area. The resulting uncertainty for many businesses is caused by differences between various legislation. A recent Federal Circuit Court case decision provides greater clarity on this at least for NSW.