The Christmas - New Year period has historically proven to be a busy period for workers compensation. Due to a variety of reasons, we see a higher frequency of claims during this period. The worker had been terminated two weeks prior to the claim being lodged.
(more…)
A NSW Parliamentary review of Workers Compensation Scheme has been released providing recommendations to improve the NSW scheme. The report revealed the scheme is $1.87B in surplus, claims have reduced materially (110,000 in 2011/12 to 60,000 in 2015/16).
(more…)
With market speculation now confirmed, CGU will exit the NSW workers compensation scheme when its agency agreement with icare ends in late 2017. As noted in our February 2017 Update, expectations were that the five current agents (Allianz, CGU, EML, GIO, and QBE) would reduce to three in 2018. CGU’s withdrawal raises the question of whether icare will be content with four agents holding roughly 45% market share, or if they will still pursue consolidation to three.
(more…)
ICare has recently announced significant changes to the way premium, credit, and payment functions will be managed. These updates mark a shift from insurers to iCare directly, with a phased approach designed to ensure a smooth transition for businesses across New South Wales.
(more…)
Like other audits, a workers compensation wage audit can be very stressful & confronting. Businesses face having to pay higher unpaid premiums, late payment fees & the actual audit costs. We assist businesses of all sizes either pre or post wage audits reduce their financial exposure.
iCare and its scheme agents have legal rights to audit employer’s records to ensure they are paying the correct premium.
(more…)