At ABILITY GROUP, we understand that effective claim management is critical to controlling workers' compensation costs and supporting injured employees back to health. Our Claim RTW Success story highlights how early intervention and specialist support can transform outcomes for both businesses and workers.
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In 2015, WorkCover NSW was dissolved and replaced by three new specialist agencies. This major reform aimed to create a more efficient, commercially focused workers' compensation system while strengthening workplace safety and regulatory oversight across New South Wales.
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Unofficial industry views suggest recent NSW workers' compensation and premium formula changes left 75% of medium to large businesses expecting higher 2015/16 renewal premiums. ABILITY GROUP has already won NSW WorkCover appeals on behalf of our clients, reducing premiums payable. Higher renewal & need help?
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The recent NSW workers compensation changes have caused challenges across the industry since taking effect on 30 June 2015. Medium to large businesses with premiums over $30,000 have yet to receive official 2015/16 Premium Renewals under the new formula. Early data suggests 75% will face higher costs, leaving most unsure whether their premiums will rise or fall amid the changes. Under the new formula, the key drivers of renewal premium changes will include:
ABILITY GROUP has already helped numerous clients with higher 2015/16 Renewal Premiums.
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In the new scheme changes, NSW WorkCover introduced a provision for a premium capping. Although not widely known, relevant businesses are able to apply for certain capping. ABILITY GROUP can help develop a business case and apply for capping at no cost, with fees only payable if greater savings are secured beyond those in the legislation.
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Services issues can be a source of frustration for certain businesses when it comes to insurance. In workers compensation service responsiveness is key in minimising claim costs and resulting impacts to premiums. Small and medium businesses not receiving appropriate service can expect delays that can increase workers compensation related costs. Large businesses aren’t immune with service and support varying greatly between insurers and claims managers. Changing claims managers and unresponsiveness can be things of the past. These service issue were highlighted recently by the NSW Minister of Finance who is seeking to change the revolving door insurer’s face with staff. There is also a short video highlighting some of the common issues. When ABILITY GROUP are engaged, we work with our dedicated services teams to drive outcomes
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