ABILITY GROUP recently achieved a landmark outcome for a client, saving them $400,000 in premium costs through a meticulous claim review and arbitration process.
When engaged, ABILITY GROUP immediately escalated the claim to senior insurer levels, recognising its potential impact. Ahead of arbitration, the team pressed for additional evidence and secured a delay in settlement. This proactive approach allowed time to develop a clear, achievable strategy in collaboration with solicitors and the client.
Australia’s business environment is evolving rapidly, shaped by shifting consumer expectations, digital transformation, and global market pressures. Australian Trends & Insights, powered by ABILITY GROUP, provides organisations with the clarity they need to adapt, grow, and thrive.
The New South Wales (NSW) Government has introduced significant reforms to the workers' compensation system through iCare. These changes aim to strengthen financial sustainability, improve support for injured workers, and align compensation with modern workplace realities.
The Christmas - New Year period has historically proven to be a busy period for workers compensation. Due to a variety of reasons, we see a higher frequency of claims during this period. The worker had been terminated two weeks prior to the claim being lodged.
A NSW Parliamentary review of Workers Compensation Scheme has been released providing recommendations to improve the NSW scheme. The report revealed the scheme is $1.87B in surplus, claims have reduced materially (110,000 in 2011/12 to 60,000 in 2015/16).
With market speculation now confirmed, CGU will exit the NSW workers compensation scheme when its agency agreement with icare ends in late 2017. As noted in our February 2017 Update, expectations were that the five current agents (Allianz, CGU, EML, GIO, and QBE) would reduce to three in 2018. CGU’s withdrawal raises the question of whether icare will be content with four agents holding roughly 45% market share, or if they will still pursue consolidation to three.
