by Marc Ring | May 3, 2013 | Workers Compensation
Small Employer Reforms | Cutting Red Tape
For small employer with premiums between $10,001 & $30,000, Barry O’Farrell announced reforms to provide an opportunity for these businesses to reduce costs and achieve more stable premiums. The reforms include receiving an Employer Safety Incentive (ESI) and Return to Work Incentive (RTWI) based on achieving certain criteria, boosting early payment incentives, removing claims experience impacts and reducing the amount of red tape.
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by Marc Ring | May 2, 2013 | Workers Compensation
Premium Rate Reductions for Businesses
Announcements made this week also included changes to 346 (or 66% of the market) industry WorkCover Industry Classification (WIC) rates reducing premiums from 30 June 2013 for these businesses. It was also confirmed that no business would receive a rate increase in 2013 which fuelled industry speculation rate increases will follow in 2014 to help cover the previous $4.1B NSW WorkCover scheme deficit.
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by Marc Ring | May 1, 2013 | Workers Compensation
NSW Workers Compensation Changes
This week NSW Premier Barry O’Farrell and Finance and Services Minister Greg Pearce made announcements regarding important changes to NSW Workers Compensation with reforms targeting reducing cost of doing business in NSW.
Following a series of other NSW legislation changes that took effect at the start of the year, the latest changes were announced on 1 May 2013 and are significant for NSW workers compensation.
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by Marc Ring | Apr 4, 2013 | Work Health & Safety, Workers Compensation
Work safety near vehicles
Work safety around any types of vehicles is always important as accidents occur and the consequences can be catastrophic.
In February, NSW WorkCover issued a vehicle safety plea as a result of the 4th death since June 2012 occurring due to a vehicle accident.
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by Marc Ring | Apr 2, 2013 | Consulting, Workers Compensation
Ageing workforce and workers compensation
Recent economic conditions impacting superannuation and an ageing population have resulted in employees working longer creating an ageing workforce. This can have a dramatic impact on workers compensation and something brokers and businesses alike need to understand.
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