The 30 June 2015 NSW changes include a new formula to calculate premiums with a range of new metrics replacing traditional measures. Although designed to make premiums easier to understand, many people are saying the actual result is wide of this mark. In a recent report WorkCover Independent Review Officer (WIRO) labelled some workers compensation changes as too complex and confusing.
Workers compensation and related matters are often complex and confusing. Engaging specialists can assist in saving you money, effort and frustration. ABILITY GROUP has a history of delivering tangible benefits to both clients and partners. If your time is valuable and workers compensation or related matters are distractions from your core business, you could benefit from specialist assistance.
One thing that was certain in our minds leading into the NSW State Election was that whichever party was elected there would be resulting significant workers compensation changes. To put this in context, SA has undergone the largest changes in over 20 years. Comcare, the national scheme, faces widespread change to modernise and keep relevant. NSW has experienced dramatic change and with the return of the Liberal government the medium to large business changes are now almost certain. Similar to SA and when implemented in NSW, the changes will be the most significant seen in over 20 years. With privatisation front of the Baird government’s mind, debate has resurfaced as to if the recently sighted NSW WorkCover Insurance logo is an indication of a planned move to privatise the NSW scheme.
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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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.
Recruitment and workforce related decisions have always been key decisions for businesses. The continuing changes in local and global economies means these decisions become even more important. The ability to identify the right employees and subsequently keep them can avoid considerable costs, effort and frustration. So what are the long term employment trends in Australia? With the retirement age progressively being increased by the Australian government and greater use of temporary employees, the Australian workforce dynamics continue to evolve. One of Australia’s leading, and at times controversial, journalist recently covered this topic and we believe these trends are having and will continue to have impacts on workers compensation.