In 2015, WorkCover NSW was dissolved and replaced by three new specialist agencies. This major reform aimed to create a more efficient, commercially focused workers' compensation system while strengthening workplace safety and regulatory oversight across New South Wales.
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Unofficial industry views suggest recent NSW workers' compensation and premium formula changes left 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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The 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 have yet to receive official 2015/16 Premium Renewals under the new formula. Early data suggests 75% will face higher costs, leaving most unsure whether their premiums will rise or fall amid the changes. Under the new formula, the key drivers of renewal premium changes will include:
ABILITY GROUP has already helped numerous clients with higher 2015/16 Renewal Premiums.
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In 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. ABILITY GROUP can help develop a business case and apply for capping at no cost, with fees only payable if greater savings are secured beyond those in the legislation.
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We are very pleased to announce our HEALTH ABILITY specialist business is now an accredited NSW Workplace Rehabilitation Provider. Our new General Manager Emily Taylor is actively running our specialist rehabilitation & health services.
The recent NSW legislation changes also mean workers compensation claim related rehab services do not increase the cost of these claims and importantly no longer impact subsequent premiums – effectively making rehab services, an important catalyst for accelerating the return to work of injured employees, free for NSW businesses.
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