As we enter the 2025/26 financial year, businesses across Australia will face a mixed bag of changes to 2025/26 workers compensation premium increases. At ABILITY GROUP, we’re committed to helping employers navigate workers compensation-related matters with clarity and confidence. Here’s a state/territory breakdown of what’s changing and what it means for your 2025/26 workers compensation premiums.
(more…)
As summer approaches, it’s time to review and renew your policies. June marks a critical period for policyholders, and we’re here to ensure your coverage continues seamlessly, whether you’re renewing a business insurance plan, updating your health coverage, or reviewing your property protection.
(more…)
In NSW the State Insurance Regulatory Authority (SIRA) has recovered $10M in underpaid premiums. SIRA identified 81 employers suspected of being underinsured for workers compensation, primarily due to under-declaring wages. This was achieved through direct employer engagement and predictive data modelling. Following our Wage Declarations & Adjusted Premiums article last month, SIRA’s actions act as a timely reminder for all Australian businesses to ensure they provide accurate actual wage declarations to avoid fines/penalties or interest.
(more…)
Timely submission of a business’ actual wage declarations is an essential step in processing their workers compensation premium adjustment. In discussions with underwriters recently we have noted a heightened focus for insurers to obtain Actual Wage Declarations before the due date. Understanding wage declarations & adjusted premiums is important for businesses needing to successfully manage cash flow, profitability & other aspects.
(more…)
Each state/territory has specific workers’ compensation regulations with a common goal of providing financial support for injured & ill workers. So what happens with some types of Annual Leave & Workers Compensation Claims?
(more…)
Businesses with workers compensation insurance must declare the actual wages paid during their policy period. This declaration is essential for calculating your Adjusted Premium, which ensures you pay the correct amount and contribute fairly to the scheme.
ABILITY GROUP’s Declaring Wages Guide & Support is designed to help businesses navigate this process with confidence. Whether you’re a small business owner or managing a large workforce, understanding wage declarations is key to staying compliant and managing costs effectively.
(more…)