Workers Compensation Insurance in Australia is a compulsory insurance which benefits both the employer and employee.
Benefits to the employee
The insurance cover protects the employee for work injuries suffered in the course of employment.
The cover generally provides a range of benefits including:
- A percentage of the employees salary or wages whilst off work,
- Medical, hospital and rehabilitation expenses
- Travel expenses and/or
- Lump sum payments for a permanent work injury
Benefits to the employer
The employer is responsible for purchasing this compulsory cover.
The cover protects the employer by ensuring they do not have to pay the employee wages or expenses whilst the employee is absent from work recovering.
Failure to purchase and update a workers compensation insurance policy could result in being prosecuted under the relevant workers compensation legislation in your state.
How can we ad value as your Insurance Broker?
As an insurance broker we can help you understand and meet your obligations under the relevant Act in each state. What happens if you have offices in each state? What do you do in case of an unfortunate incident? What information do you need to disclose to the insurer? What are your responsibilities as a retailer? These are some of the questions we can answer and assist.Contact Us