December is the second largest workers compensation renewal period in NSW and in light of the today’s 2015 NSW Scheme Agent Deed changes, impacted businesses may want to choose which insurer manages their critical workers compensation insurance. Now could also be a perfect time for a proactive workers compensation review to ensure you have the best deal.
Renewals Before 31 December – With workers compensation often being the largest insurance cost to a business and at times the second largest cost after wages, choosing a workers compensation insurer can be critical to the sustainability of business success. For businesses that are claims experience rated a claim that is incorrectly managed by an insurer can have dramatic financial impacts not to mention those to the injured worker.
With both Xchanging and Gallagher Bassett both exiting the NSW WorkCover scheme on the 31 December 2014, businesses that have a policy that renews before 31 December at either of these insurers may want to select a different insurer to the ones identified by NSW WorkCover.
Contact us to find out how we can help.