Safety Reminder Fines Apply

Safety Reminder Fines Apply

Reminder Safety First

Actively promoting workplace safety is an important ABILITY GROUP function. At times we unfortunately need to manage tragic consequences of workplace accidents. Businesses that adopt a safety first approach are making an important step towards avoiding accidents and injuries. A court recently found a leading Australian paper manufacturer liable for the death of an employee fining them $400,000.

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2015-16 NSW Premium Renewals

2015-16 NSW Premium Renewals

NSW Premium increase decrease

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:

  • Claims performance comparison to over scheme rather than industry
  • 3 prior years of claims costs rather than 2 years
  • Claims wage related costs only becoming premium impacting

ABILITY GROUP has already helped numerous clients with higher 2015/16 Renewal Premiums.

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2015-16 Renewal Capping

2015-16 Renewal Capping

Renewal Increase

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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