NSW workers’ compensation insurer icare says it has reduced premiums for more than 2000 businesses and suspended policies for a number of firms as part of coronavirus support measures.

Meanwhile, the State Insurance Regulatory Authority (SIRA) is tracking COVID-19 related claims, with 115 claims and notifications so far.

icare CEO John Nagle says the insurer is working with customers to understand their circumstances and help with policy needs as part of a range of assistance measures.

“Customers who have had to stand down staff due to the COVID-19 disruptions have been reaching out to us to update their wage estimates,” he said. “As a result, we’ve been able to reduce premiums for more than 2000 NSW businesses to a total value of $13 million.”

The state-owned insurer had placed 450 policies on hold as of last week for those businesses who have had to shut down completely.

Key assistance measures being offered by icare to workers’ insurance policyholders include deferring premium payments for up to six months for businesses experiencing hardship.

Reduced premiums or a refund may apply where customers’ wages and coverage have been changed to reflect new circumstances.

Customers may also receive refunds on unused portions of their premium, while keeping their policy active for when they resume business.

“We are operating in an environment of rapid change and multiple challenges for NSW businesses,” Mr Nagle said. “We are ready to adapt to the changing circumstances of our customers to ensure they are able to continue to keep their people safe, both now and in the months ahead.”

On claims, icare has advised employers that a worker who is diagnosed with COVID-19 will be covered if it is proven that work activities were the main contributing factor to catching the virus.

“Due to the nature of viruses, it may be difficult to determine that employment was the main contributing factor. Each claim will be assessed on its individual merits.”

The insurer will require a certificate of capacity confirming the diagnosis, as well as information from the employer, worker and treating doctor over how the virus was contracted.

The SIRA claims information can be accessed here.