In 2015/16, many employers faced sharp increases in premiums due to prior year adjustments and a new renewal formula. For businesses with tariff premiums above $30,000, the impact was substantial, creating financial strain at the most critical time of year.
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On the 4th of December 2015, icare (previously known as WorkCover NSW) announced further changes as a component of the NSW government ongoing NSW workers compensation reforms.
The latest reforms include benefit changes to injured employees in need of the highest benefits being those with a Whole Person Impairment (WPI) of >30%. In addition to this there were several other as well as additional changes.
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Mental health issues are becoming increasingly common in Australian workplaces and from a workers compensation perspective they are 7-8 times more expensive than physical injury related claims. A recent PWC study found mental health issues cost Australian businesses $10.9B a year in lost productivity. The study also suggests poor mental health is likely to impact 1 in 5 employees. So what are the common mental health disorders?
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In 2015, ABILITY GROUP achieved a major victory for one of its clients, successfully saving $550,000 through a workers' compensation premium appeal. This case highlights the importance of expert guidance in navigating complex legislation and premium formula changes that can significantly impact businesses.
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![Carmen [Square]](http://abilitygroup.com.au/wp-content/uploads/2015/11/Carmen-Square-150x150.png)
At ABILITY GROUP, we proudly acknowledge the remarkable career of Carmen Sherry, who is retiring after more than 40 years of dedicated service in the workers’ compensation industry. Carmen’s departure marks a significant moment for our team and the broader industry, as she leaves behind a legacy of expertise, mentorship, and unwavering commitment to excellence.
From a transition perspective, Adam Peatey will assume responsibility for the brokers and clients Carmen has supported. Adam can be contacted on (02) 9098-5504, 0411210209 or adam.peatey@abilitygroup.com.au.
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We are excited to welcome Adam Peatey to ABILITY GROUP. Adam is an accomplished expert possessing approaching 20 years’ workers compensation experience in broker and client relationship management, injury / claims, underwriting, premium management and gaining all other facets of the industry gained across businesses of all sizes and industries.
Having worked closely with Adam as our Employers Mutual Relationship Manager for the last 3-4 years, we were excited when Adam wanted to join our team. With Carmen retiring, we are very happy to ensure the exceptional level of client and broker support will continue via Adam and as supported by Julie, Marc and the rest of the team.
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