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:
1) Reforms are causing increases & Renewal Premium Increases
2) Renewal Capping & Appeals
3) New Premium Scheme Transition
4) NSW WorkCover becomes 3 new organisations
NSW Scheme Reform Checklist – whilst every business will have a unique set of circumstances, the above reference list will assist in answering the following questions:
- My 2015/16 Renewal has increased. What do I do?
- My Renewal has increased by more than 30%. What can be done?
- What does my business need to transition into the new scheme and premium formula?
- Where can I get help?
- I have had historical claims and my premium has increased dramatically. What can I do?
- Can my business reduce it’s 2015/16 Renewal premium?
- etc
As always, should you need any specific advice or assistance, please contact us and our specialists will be more than happy to assist.