In Australia, employers are required by law to ensure their workplace is safe. This includes having workers compensation insurance for all their employees. You and your employees have legal rights and also obligations under workers compensation laws and guidelines.
Overall, these laws and guidelines create a workers compensation and workplace injury management framework that provides for:
- Prompt treatment of work-related injuries
- Effective and proactive management of such injuries
- Medical and vocational rehabilitation following injuries
- Income support for workers during incapacity
Overall, the system is designed to create a fair, affordable and financially viable compensation system and it ensures contributions by employers are aligned with the risks faced in the industry.
Why you should consider it
Any organisation that employs staff and pays more than $7,500 in employee wages is obligated to take out appropriate workers compensation insurance. It’s important that you, as an employer, understand your obligations and indeed, the level of cover you need for your business and industry.
There are many rules, requirements and obligations in providing the right workers compensation coverage, so talk to us about getting yours right.
What does it cover?
- Medical coverage: Includes doctor visits, hospital care, prescription medications, physical therapy and other medical treatments
- Disability: Provides a partial replacement of income lost when workers are unable to work due to an on-the-job injury. The disability may be temporary or permanent, and partial or total.
- Vocational rehabilitation: Enables workers who cannot return to their prior occupation to learn a new skill based on their current capabilities.
- Death Benefits: These benefits are afforded to the spouse and minor children of a worker killed on the job.
Talk to us about ensuring your workers compensation cover is appropriate for your business.
What isn’t covered?
A standard workers compensation policy does contain various exclusions. As an example, it states that your insurer will not pay any excess benefits that are required because of serious and willful misconduct committed by you.
There are many other exclusions to consider so please talk to us about what may apply to your business.
Please talk to us about what may or may not be appropriate for your coverage.