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What do you consider the most important part of your business is and what makes you lose sleep at night?
In some cases, Management do not consider their employees as “valuable assets”.
Your employees are the back bone and most important part of your business. Without this valuable asset, your business would not exist.
Think about the time and effort you invest in training and upskilling your employees and the cost of replacement should one be injured due to a work place accident.
Sure, accidents do happen but in a lot of cases they can be avoided through the implementation of a robust Risk Management and Occupational Health and Safety Plan.
In Australia there are many workers compensation schemes, one for each State and Territory including Comcare & Seafarers Insurance.
Each scheme has its nuances and all are based on a no fault system.
If you have employees located in different States or Territory’s within Australia you are legally required to take out a Workers Compensation Policy.
Failure to do so may result in hefty penalties and in some cases the actual cost of the claim.
It is therefore imperative that you have the appropriate Workers Compensation Program in place.
Should you require advice in respect to your workers compensation insurance program or to obtain assistance for a Risk Management or Occupational Health and Safety assessment please contact your McKenzie Ross account manager.
Victoria – News Update
WorkCover Victoria is currently conducting a contract review with the current insurers who manage the scheme.
Initial tender responses have been lodged by existing insurers together with potential new players.
We understand that a “shortlist” will be announced around April this year with the announcement of the successful insurers to follow.
Implementation of the new insurance panel is likely to start on or about the 1st July.
We will keep you informed of developments as they occur and how they may impact on your business.