What is Workers Compensation insurance?
Workers compensation insurance provides a safety net for employees who sustain an injury and/or illness throughout the course of employment.
Who needs Workers Compensation cover?
All businesses that employ staff with an annual payroll over $7,500 are obligated to have a policy in place*. Not having the relevant insurance cover can leave your organisation unprotected and expose you to punitive measures.
Why should you protect yourself?
Apart from the fact that Workers Compensation cover is compulsory, non compliance punitive consequences can be severe – and significantly impact the cost effectiveness of your business. It is incumbent on organisations to ensure there are systems and processes in place to meet compliance standards and Work Cover guidelines to facilitate cost effective and efficient management of your business.
How can you protect yourself?
Speak to your broker or a ReWork Consultant today to make sure you have the appropriate cover in place, minimising risk exposure and costs to your business.