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.
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In today’s fast?paced digital world, complexity often slows businesses down. At ABILITY GROUP, we believe success comes from clarity. Our mission is simple: transform complicated challenges into straightforward, actionable solutions that drive measurable results.
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In January, we communicated the upcoming NSW Workers Compensation Changes and how these were likely to impact medium to large NSW businesses. On 18th May 2015, Vivek Bhatia (CEO of WorkCover NSW) confirmed these changes and ABILITY GROUP believe they represent the most dramatic changes in 20+ years.
From 30 June 2015 onwards, businesses in NSW with premiums above $30,000 (medium and large businesses) face a completely new premium calculation. The new formula rewards businesses that lodge fewer claims and demonstrate strong return-to-work performance.
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The upcoming NSW medium to large business workers compensation changes mean the assessment of liability will be become increasingly critical. The ability to identify and document the facts of an injury can become crucial in minimising the future costs, speed of return to work and acceptance of liability. Employers who are suspicious of particular claims will benefit from use of investigators.
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According to NSW Government’s Get Healthy At Work, Australians spend one third of their lives at work, so being healthy at work can have some big benefits. Healthier employees are alert, fitter and more resilient against illness. A successful workplace health program improves productivity, attracts new employees, enhances business image and reduces absenteeism.
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Workers’ compensation claims can quickly become complex when injuries are severe, recovery is prolonged, or disputes arise. These difficult claims often lead to escalating costs, extended timeframes, and significant stress for both employers and employees. ABILITY GROUP specialises in Difficult Claim Intervention, helping businesses and brokers manage these challenges effectively.
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