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NSW workers’ comp incentives roll out to larger firms

WorkCover NSW is to offer incentives such as premium cuts to about 15,000 large and medium-sized employers with 2.6 million staff, in a bid to reduce claims and lift return-to-work rates.

It follows the success of incentives and reforms for small businesses in 2013, which cut workers’ compensation claims by 15% and raised return-to-work rates by 5%.

“The proposed reforms are aimed at making premiums fairer, affordable and easier to understand for employers,” WorkCover Insurance Director Underwriting Jason McLaughlin says.

“WorkCover is seeking to adopt the same incentives for medium and large employers that successfully improved safety and reduced red tape for small employers.”

The small employer incentives package of 2013 gives 7.5% premium discounts at policy renewal and offers such as premium freezes to employers that have safe workplaces and return staff to work quickly.

An employer safety reward will be available to employers who make no claims for four consecutive years.

Vivek Bhatia, CEO of the NSW Government’s Safety, Return to Work and Support Division, told insuranceNEWS.com.au the scheme aims to “link back to [employers’] hip-pockets, so it becomes enough of an incentive for them, along with a much more productive and engaged workforce”.

He says simplified renewal notices with clear workers’ compensation premium calculations will be sent to large and medium-sized employers by June or July.

Employers will be able to see how they can influence their premium by providing a safe workplace and supporting injured workers.