by Marc Ring | Jun 18, 2014 | Consulting, Workers Compensation
Recent changes announced by NSW WorkCover initially suggest further premium reductions for businesses. There are however key changes that could have the opposite effect and result in higher 2014/15 renewal premiums. By reducing Industry Cost of Claims Rate (ICCR) by an expect average of 25%, in some situations it is likely to increase workers compensation premiums as a result. The 2014-15 NSW Budget cuts to WIC Rates by an average of 5% will help offset some of the expected increases and could benefit those with better than industry performance.
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by Marc Ring | Jun 6, 2014 | Consulting, Workers Compensation
On the 3rd of June, NSW WorkCover announced the latest changes designed to further improve the scheme effective 30 June 2014. A key change is an approximate 25% reduction in Industry Cost of Claims Rate (ICCR) rates. If a business has not had a similar % improvement in claims performance, then they will possibly face significant 2014/15 premium increases. Additional changes relate to maximum premium caps and extended instalment options. We recommend all medium to large businesses contact their broker or ABILITY GROUP to determine likely financial impact to their business.
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by Marc Ring | Jun 4, 2014 | Consulting, Work Health & Safety, Workers Compensation
From 1 July 2014, WorkCover laws in Victoria will become simpler with the Workplace Injury Rehabilitation and Compensation (WIRC) Act 2013 becoming operational.
Additionally there are changes in the 2014/15 Premiums Orders that will be gazetted in June 2014. The numerous changes include…
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by Marc Ring | May 14, 2014 | Consulting, Workers Compensation
In the weeks leading up to yesterday’s 2014 federal budget the Australian media were filled with warnings of drastic measures and changes. So when Joe Hockey started his budget speech last night including “Our future depends on what we as a nation do today”, few expected to come out a winner. Are the changes beneficial longer term and what does the 2014 budget mean for you and your business?
We have sourced a variety of leading and analysis commentary of the 2014 budget changes and the impacts to individuals, businesses and our country.
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by Marc Ring | May 14, 2014 | Consulting, Work Health & Safety, Workers Compensation
In last night’s 2014 Australian federal budget, Treasurer Joe Hockey announced the retirement age is set to increase to 70 by 2035. Additionally a $10,000 incentive will be paid to businesses that employee workers over the age of 50. These announcements confirm the Australian workforce will continue to age. Business therefore will increasingly experience issues associated with an ageing workforce and unless they proactively take steps ensure workplace safety, minimise injuries and actively manage workers compensation claims, costs will increase.
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by Marc Ring | Mar 30, 2014 | Consulting, Workers Compensation
Did you know that new Privacy Laws representing the most significant changes in 25 years came into effect recently? Do you know what this means for you or your clients business?
Important changes to the Privacy Act 1988 commenced on the 12 March 2014 and include a new set of Australian Privacy Principles (APPs) designed to regulate the handling of personal information by Government agencies and some businesses. Want to find out how this might affect your business?
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