In November 2023, the Minns Government launched an operational review into icare to cut excessive spending, waste and salary costs. NSW State Workers Compensation nominal insurer icare has initiated discussions with union representatives and staff regarding proposed structural changes that could lead to a workforce reduction and savings of approximately $23 million annually.
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Psychological risks in the workplace, often referred to as psychosocial hazards, can significantly impact employees’ mental health and overall well-being. These risks stem from how work is organised, social dynamics, and the work environment itself. Identifying and addressing these risks is crucial for maintaining a healthy and productive workforce. The NSW Government has developed a new strategy to address psychological workplace risks with linkages to the Management of Psychological Hazards Code of Practice.
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Businesses with Workers Compensation insurance must declare the amount of wages they actually paid within the policy year. Businesses must submit their Actual Wage Declaration at the end of their workers compensation insurance policy period. Your Adjustment Premium will be recalculated to help ensure each business pays the correct premium and contributes equitably to the scheme. Our Declaring wages guide & support can help make this process easier.
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icare confirmed today that NSW workers compensation premiums will increase by the maximum allowed. This represents an average of 8% as previously communicated. Businesses already facing higher costs will be required to manage workplace injuries, workers compensation claims and related matters much more closely or face significantly higher premiums in subsequent years.
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Forklift safety can be enhanced through collaboration between workers and businesses. Forklifts are widely used in workplaces across Australia, but they are also responsible for numerous deaths and injuries each year, leading to significant financial and human costs. In February 2024, a Victorian company was fined $1.3M for Industrial Manslaughter resulting from a forklift-related death and so we wanted to highlight the importance of forklift safety.
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