On the 4th of December 2015, icare (previously known as WorkCover NSW) announced further changes as a component of the NSW government ongoing NSW workers compensation reforms.
The latest reforms include benefit changes to injured employees in need of the highest benefits being those with a Whole Person Impairment (WPI) of >30%. In addition to this there were several other as well as additional changes.
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Despite the NSW scheme changes taking effect back on 30 June 2015, the majority of medium to large NSW businesses are yet to receive their 2015/16 premium renewals. With iCare now authorising the NSW insurers to start processing 2015/16 renewal notices the challenge they now face is there is a 3-4 month backlog. Given the events over the last 4 months, we have covered this inside out. To help make these changes easier to understand, ABILITY GROUP provide a quick reference list below for our clients and partners:
1) Reforms are causing increases & Renewal Premium Increases
2) Renewal Capping & Appeals
3) New Premium Scheme Transition
4) NSW WorkCover becomes 3 new organisations
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