SafeWork Australia has released 2015/16 workers compensation data that shows serious claim costs increased by 30%. It is important for employers to provide a safe workplace & training to help prevent injuries. Data indicated certain age groups & industries are at risk.
Earlier this afternoon, icare announced the 2018 NSW workers compensation agents. Following CGU announcing their exit from NSW workers compensation, further important changes were announced today by icare. Per our previous articles it was widely expected the current 5 agents (Allianz, CGU, EML, GIO & QBE) would be reduced to 3 for 2018 onward.
Given the timing of today’s announcement, it is our current understanding that from 2018 onward, the following will occur:
An accident at the Sydney Royal Easter Show resulting in several employees being badly injured whilst playing on the super-slide at 12:20am and after the show closed, would make many question if they should be covered by workers compensation. Given the severity of the injuries, WorkCover NSW are investigating this particular incident. Reflecting on this, we recall clients and partners asking what is and isn’t covered by workers compensation?
Unfortunately for business owners, workers compensation is a no-fault system where employees or sub-contractors who are even under the influence of drugs and alcohol or acting carelessly are typically covered. Given each scheme (state, specialised licences, national, etc.) is different, there is regrettably no easy answer. What this means is businesses need to be acutely aware and cautious.
ABILITY GROUP were engaged several months ago by a client to assist in reducing their workers compensation related costs and claims management. Recently we advised our efforts delivered $100,000 of workers compensation related savings.
This client had experience premium increases through a combination of claims and wage growth, yet despite raising concerns with their insurer regarding several claims, our client had been unable to address their increasing premiums.