Prior to our engagement, our client for many years used a different consultant / broker. Needless to say our client was excited to hear we had been able to successfully reduce their NSW workers compensation premium by $90,000. Based on a comprehensive review of their program,Read more
With the Easter long weekend upon us and with most NSW insurers having completed their outstanding renewal premium processing, ABILITY GROUP have been assisting clients and brokers with a larger number of enquiries regarding icare (previously WorkCover) Wage Audits.
Icare have a compliance program that verifies if employers have paid their correct premium. To ensure that employers are paying the appropriate workers compensation premium, legislation gives icare and the Nominal Insurance Agent right to access an employer’s wage records in conducting a Wage Audit. When an audit reveals a business has under declared their wages, the employer must pay the outstanding premium as well as a late payment fees dating back to when the premium was originally due. In addition, when wages have been under declared by more than 25%, the employer will be charged the wage audit cost.
Unofficial industry views indicate the recent NSW workers compensation legislation and premium formula changes resulted in 70% of medium to large businesses expecting higher 2015/16 Renewal Premiums. ABILITY GROUP has already won NSW iCare appeals on behalf of our clients reducing premiums payable. Higher renewal & need help?
Despite the NSW scheme changes taking effect back on 30 June 2015, the majority of medium to large NSW businesses are yet to receive their 2015/16 premium renewals. With iCare now authorising the NSW insurers to start processing 2015/16 renewal notices the challenge they now face is there is a 3-4 month backlog. Given the events over the last 4 months, we have covered this inside out. To help make these changes easier to understand, ABILITY GROUP provide a quick reference list below for our clients and partners:Read more
Unofficial industry views indicate the recent NSW workers compensation legislation and premium formula changes resulted in 75% of medium to large businesses expecting higher 2015/16 Renewal Premiums. ABILITY GROUP has already won NSW WorkCover appeals on behalf of our clients reducing premiums payable. Higher renewal & need help?
In the new scheme changes, NSW WorkCover introduced a provision for a premium capping. Although not widely known, relevant businesses are able to apply for certain capping. Developing a business case to support the application, ABILITY GROUP can assist clients apply for this capping free of charge with fees payable only if we are able to secure a greater savings than those identified in the new legislation.
Various sections of the NSW Workers Compensation Act 1987 allow a business to lodge a WorkCover appeal. We have seen the upcoming changes already impact some businesses as they face financial pressure caused by higher premium and there could be grounds for appeal. Although circumstances are often unique, ABILITY GROUP has a successful record in winning appeals on behalf of clients.Read more
We can appeal on your behalf?
ABILITY GROUP are experienced with the current NSW WorkCover appeal process and have been successful in recent wage audit related and other appeals on behalf of our clients.
Workers compensation is a highly technical area and dependent upon the specific circumstances there may be grounds for appeal against wage audits, late payment fees, etc.
Are you about to be wage audited and require assistance, contact ABILITY GROUP to manage your workers compensation appeals?