You can be excused if you missed the recent important changes regarding RTW in NSW. At ABILITY GROUP we’ve got this and outline the key changes as well as how these changes impact NSW Category 1 and Category 2 businesses. If this makes no sense to you, then you should read more.Read more
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:Read more
icare recently held NSW briefing sessions to update consultants / brokers on the upcoming changes regarding the insourcing of premium & credit/payment functions from insurers. A phased approach is hoped to facilitate a smooth transition. In the next few weeks the new portal will be launched for new business only, this is for new companies taking out a policy for the first time. The next major phase of change is currently scheduled for April, where all client renewals will be managed through icare for the financial year 2017-18.Read more
In August 2016, our Significant NSW icare Changes article outlined the latest NSW workers compensation changes taking effect in 2017. icare (previously WorkCover NSW) will directly administer policy and billing for the NSW workers compensation scheme. Details since the original announcement have been sparse however we understand NSW businesses will be able to use either an online portal, icare Customer Support Centre or Service NSW to provide wage declarations, make premium related payments and related matters. Many businesses are concerned with the service they will receive following the change, however we see these changes as exciting. At ABILITY GROUP will continue to actively support our clients and brokers with personalise and responsive service.
icare’s latest announcement regarding the ongoing NSW workers compensation reforms hit the market earlier today. icare’s latest changes take effect in 2017 and will impact how businesses, and brokers, approach workers compensation in NSW. icare is “moving closer to our customers, putting their needs at the centre of everything we do”. The latest changes will transform workers compensation insurance in NSW by controlling how businesses (customers) buy and renew their policies via a new online portal.
We have already heard significant speculation regarding what these changes mean and how the industry will evolve as result. So what do these changes mean and therefore what can our clients and brokers expect?
New benefits to assist the return to work of NSW injured workers took affect on the 29th of April 2016. These changes include workplace modifications, the transition to work equipment and training programs.
In light of these changes there is increased fluidity and interaction with SIRA vocational rehabilitation programs. SIRA currently has 6 vocational education programs that are administered under Section 53 of the Act of 1988.
The last 12 months has seen continued change across NSW Workers Compensation which remains consistent with the prior 2-3 years. These recent NSW workers compensation structural changes were designed to result in a faster, simpler, and more engaging experience for workers, employers and other stakeholders.
In September 2015, the structural separation of insurance functions was recommended in various reports and inquiries into WorkCover to address the inbuilt conflict between the insurance regulatory and insurance service delivery functions. Importantly, addressing concerns of various stakeholders as well.
Benefit reforms for injured workers were made law in August 2015. The benefit reforms focus on three objectives: helping injured workers with the highest needs, assisting those with injuries to return to work, and applying benefits equitably for all injured workers.Read more
On the 4th of December 2015, icare (previously known as WorkCover NSW) announced further changes as a component of the NSW government ongoing NSW workers compensation reforms.
The latest reforms include benefit changes to injured employees in need of the highest benefits being those with a Whole Person Impairment (WPI) of >30%. In addition to this there were several other as well as additional changes.Read more
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