From 1 July 2014, WorkCover laws in Victoria will become simpler with the Workplace Injury Rehabilitation and Compensation (WIRC) Act 2013 becoming operational.
Additionally there are changes in the 2014/15 Premiums Orders that will be gazetted in June 2014. The numerous changes include…
In the weeks leading up to yesterday’s 2014 federal budget the Australian media were filled with warnings of drastic measures and changes. So when Joe Hockey started his budget speech last night including “Our future depends on what we as a nation do today”, few expected to come out a winner. Are the changes beneficial longer term and what does the 2014 budget mean for you and your business?
We have sourced a variety of leading and analysis commentary of the 2014 budget changes and the impacts to individuals, businesses and our country.
In last night’s 2014 Australian federal budget, Treasurer Joe Hockey announced the retirement age is set to increase to 70 by 2035. Additionally a $10,000 incentive will be paid to businesses that employee workers over the age of 50. These announcements confirm the Australian workforce will continue to age. Business therefore will increasingly experience issues associated with an ageing workforce and unless they proactively take steps ensure workplace safety, minimise injuries and actively manage workers compensation claims, costs will increase.
We have previously covered the significant financial and people impacts psychological related workers compensation claims can have on a business. The new bullying laws create broader risks beyond workers compensation and management of employees by having the right systems, processes and access to experts, can save you money and effort. A leading insurer recently shared thoughts on this worrying industry trend and what steps can be actively taken to help minimise risks.
Did you know that new Privacy Laws representing the most significant changes in 25 years came into effect recently? Do you know what this means for you or your clients business?
Important changes to the Privacy Act 1988 commenced on the 12 March 2014 and include a new set of Australian Privacy Principles (APPs) designed to regulate the handling of personal information by Government agencies and some businesses. Want to find out how this might affect your business?
For a while now there has been a raging debate of the benefits of public versus privatisation of NSW Workers Compensation. NSW Premier, Mr Barry O’Farrell, has driven dramatic changes to NSW workers compensation over the last 18 months with businesses being the main beneficiaries. More recently, Prime Minster Tony Abbott, announced repeals allowing national businesses to self-insure via Comcare and consequently there is a renewed push for the privatisation of NSW Workers Compensation.
Insurers, insurance brokers and businesses alike could benefit from a push to privatise NSW workers compensation. But who would benefit most?