In recent years, the reforms surrounding NSW Workers Compensation have received criticisms of poor practices from employers. The 2015 changes divided the workers compensation system into the State Insurance Regulatory Authority (SIRA), Insurance and Care NSW (iCare) and SafeWork NSW in an effort to produce a more effective and dedicated response to claims.
The NSW Business chamber highlights inefficiencies in the system which are inflating insurance expenses and negatively impacting both employers and employees. These proposed inefficiencies include poor claims management practices, causing delays to medical and rehabilitation services to workers – which ultimately cause a rise in premium costs. Moreover, inappropriate approval of claims, poor advice and low levels of support for employers and employees have also been blamed.
However, despite the complaints and calls for an urgent review of the system, a spokesman for NSW Treasurer Mr Perrottet mentioned it has brought about massive improvements. Since 2015, they have boasted reduced business premiums, increased worker support and elimination of the scheme debt, which compared to the old scheme, is a huge improvement. The predicted $4.1 billion deficit, premium increases of 28% and failure to help injured workers have supposedly been rectified by these reforms.
The business chamber have scheduled meetings with a number of workers’ compensation stakeholders to address these criticisms.
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Source: Insurance News
Title: NSW Treasurer hits back after workers’ comp criticism
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