Tag Archives: workers compensation appeal

Wage Audits & What To Do

Wage AuditWith 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.

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Welcome Adam Peatey

Adam Profile - Colour (Square)We are excited to welcome Adam Peatey to ABILITY GROUP. Adam is an accomplished expert possessing approaching 20 years’ workers compensation experience in  broker and client relationship management, injury / claims, underwriting, premium management and gaining all other facets of the industry gained across businesses of all sizes and industries.

Having worked closely with Adam as our Employers Mutual Relationship Manager for the last 3-4 years, we were excited when Adam wanted to join our team.  With Carmen retiring, we are very happy to ensure the exceptional level of client and broker support will continue via Adam and as supported by Julie, Marc and the rest of the team.

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NSW Scheme Reform Checklist

ChecklistDespite 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:

1) Reforms are causing increases & Renewal Premium Increases

2) Renewal Capping & Appeals

3) New Premium Scheme Transition

4) NSW WorkCover becomes 3 new organisations

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NSW Employer Reforms

Employer ReformsThe Minister of Finance, Dominic  Perrottet, & the NSW Government have been driving reform to make it easier and cheaper to do business in NSW. Reforms have been diverse with workers compensation a beneficiary. As previously covered, workers compensation reforms are designed to reward the good and penalise the poor performers. Despite suggestions most businesses would pay lower premiums, the insurers have advised us that approximately 75% of medium to large NSW business will see increased 2015/16 Renewal premiums.

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Legislation Change Appeal Success

WorkCover Appeal SuccessUnofficial 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?

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2015-16 NSW Premium Renewals

NSW Premium increase decreaseThe recent NSW workers compensation changes have caused challenges across the industry since taking effect on 30 June 2015. Medium to large businesses with premiums over $30,000 are yet to receive their official 2015/16 Premium Renewals calculated under the new legislated formula. Unofficial data suggests 75% of businesses will see higher premiums. Most businesses are yet to therefore understand if their 2015/16 Renewal Premium will increase or decrease due to the numerous changes. Under the new formula, the key drivers of renewal premium changes will include:

  • Claims performance comparison to over scheme rather than industry
  • 3 prior years of claims costs rather than 2 years
  • Claims wage related costs only becoming premium impacting

ABILITY GROUP has already helped numerous clients with higher 2015/16 Renewal Premiums.

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2015-16 Renewal Capping

Renewal IncreaseIn 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.

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Workers Compensation Appeals

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?

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