An NSW icare CSP manages workers’ compensation claims and helps injured workers return to work safely. There is an important change that ABILITY GROUP can now assist many more NSW businesses. What’s changed? How can ABILITY GROUP assist your business?
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ABILITY GROUP is committed to helping our clients and partners understand the critical components of workers’ compensation. Now although workers compensation is a compulsory business insurance, the legislation varies in each of the Australian states and territories. A common core workers compensation medical document is a Certificate of Capacity. So what is a Certificate of Capacity and why are they important?
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The festive season is a time for celebration, but it’s also a time when workplace safety must remain a top priority. Work Christmas parties, while a great way to boost morale and show appreciation for employees, can present unique safety challenges. Each year we aim to provide recommendations and work party safety tips to help you make sure your people have fun and prevent the work Christmas party hangover.
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In NSW the State Insurance Regulatory Authority (SIRA) has recovered $10M in underpaid premiums. SIRA identified 81 employers suspected of being underinsured for workers compensation, primarily due to under-declaring wages. This was achieved through direct employer engagement and predictive data modelling. Following our Wage Declarations & Adjusted Premiums article last month, SIRA’s actions act as a timely reminder for all Australian businesses to ensure they provide accurate actual wage declarations to avoid fines/penalties or interest.
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Timely submission of a business’ actual wage declarations is an essential step in processing their workers compensation premium adjustment. In discussions with underwriters recently we have noted a heightened focus for insurers to obtain Actual Wage Declarations before the due date. Understanding wage declarations & adjusted premiums is important for businesses needing to successfully manage cash flow, profitability & other aspects.
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