WorkCover WA has announced a recommended 4.7% decrease in the premium rate for compulsory workers’ compensation insurance in Western Australia. The average premium rate would reduce to 1.483% of 2015/16 total wages and is a record low. Reductions are based on actuarial calculations reflecting lower claims despite these claims costing more.
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Heading into the NSW State Election, one certainty was that whichever party won, major workers' compensation reforms would follow. SA has already undergone its largest changes in over 20 years, while Comcare faces widespread modernisation. NSW too has seen dramatic shifts, and with the Liberal government’s return, medium to large business reforms are almost guaranteed. Like SA, these will be the most significant changes in two decades. With privatisation high on Premier Baird’s agenda, speculation has grown that the new NSW WorkCover Insurance logo signals a move to privatise the scheme.
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Our business growth is built on providing our clients and partners with tailored services/solutions. We choose to partner with select general insurance brokers in offering specialist workers compensation related services to their clients. We find businesses that choose to engage a broker benefit in numerous ways. Businesses can save money, improve cover, reduce risks and much much more.
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Return To Work SA recently announced changes to the South Australian workers compensation scheme. The changes we outlined last August are the most dramatic in 20 years and have resulted in the scheme no longer being in deficit. The far reaching changes will result in the majority of businesses experiencing premium reductions from 1 July 2015.
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![Did You Know [Red]](http://abilitygroup.com.au/wp-content/uploads/2015/03/Did-You-Know-Red.png)
Historically the decision to accrue (or the cheaper alternative not to accrue) leave entitlements for injured workers on workers compensation has been a grey area. The resulting uncertainty for many businesses is caused by differences between various legislation. A recent Federal Circuit Court case decision provides greater clarity on this at least for NSW.
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