In a time when a lot of businesses are still recovering from the pandemic, fraudulent claims have been on the rise. These behaviours threaten the integrity of workers compensation schemes, taking money and resources away from genuinely injured workers who depend on them for their livelihoods.
(more…)
With workers compensation schemes/underwriters experiencing increasing challenges, costs and resulting need to increase workers compensation insurance premiums, a recent court decision represents ongoing focus on fraudulent workers compensation activities. A Victorian business owner has been sentenced to 22 months in prison for workers compensation fraud and is also required to repay $350,000 of illegal workers compensation payments.
(more…)
Successfully managing business risks is more important than ever before. Businesses are faced with numerous different risks, yet anticipating and effectively managing your people risks are critical to building trust inside and outside of your business. Given people risks can have significant financial, reputational and legal implications, risk management efforts are crucial for businesses. What are the common people risks Australian businesses should be aware of and address?
(more…)
Suitable Duties is a common workers’ compensation insurance term often used in the context of workplace injury or illness management. Suitable duties are an important part of supporting a worker’s recovery & Return to Work (RTW). Depending on the worker’s situation, getting them back to their normal job role or duties after a work-related injury or illness might take some time. This doesn’t however mean they are unable to work though & the identification of appropriate Suitable Duties represents an important RTW process.
(more…)
In Australia, each State & Territory has different workers compensation legislation & therefore the treatment of “Journey claims” (to/from work) vary.
(more…)
Across Australia, workers compensation premiums are increasing. In NSW, icare communicated premium increases with an average of 8% over the next 3 years. In Victoria, WorkCover has set the average premium rate for 2023/24 at 1.8%. ReturnToWork SA has increased the average premium rate by 2.8% to 1.85%. With increasing costs & wages, workers compensation premiums will continue to increase, meaning it will be increasingly important for businesses to actively manage workplace injuries, claims & worker compensation-related aspects.
(more…)