Ensure You Have the Right Amount of This Compulsory Cover
Employers are required by law to take the necessary precautions to ensure that their workplaces are as risk-free as is reasonably practicable for their workforce. To do this, they must make certain that each and every one of its employees have workers' compensation insurance.
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Workers compensation is compulsory for Australian businesses, so you need to be sure you have the correct policy in place as this is one of the most complicated areas of insurance.
In Australia, every state has different workers compensation requirements and laws. Workers compensation laws periodically change and you need to keep abreast of these changes to ensure you are covered to the specific needs of your workplace. With IPS you will have access to policies from all of Australia's largest insurance companies and we will assist you to identify which type of coverage you require. Type of Coverage available: General Employees, Contractors / Sub Contractors, Working Directors and Family Members
Who is it for?
Workers' compensation insurance is required for all companies in every Australian state and territory. Each state or territory has its own workers' compensation system, administered by independent authorities, with laws that vary significantly from jurisdiction to jurisdiction.
What does this Insurance cover?
State-based law is used to administer the programme. Because of this, there may be differences in each state's Workers Compensation insurance premium computations, benefits, and other features.
- A portion of an injured worker's salary for the time they are unable to work
- Lump-sum payments for permanent impairment based on the specific scheme's criteria
- Workers who are obliged to work fewer hours as a result of an injury are given compensation for their lost wages.
- Payment of medical, hospital, chemist and other treatment costs related to a work injury
- Costs of rehabilitating an injured worker to allow them to resume their employment
Important Tips for Employers
If one of your employees gets hurt, it is your job as an employer to report the incident, support the employee in returning to work, and work with the insurance and other service providers. Any claim might have a major impact on your premium. Maintaining a safe workplace and implementing a current "Return to Work" programme can result in significant cost savings. Consult a licenced insurance broker who is familiar with the plan in your state for assistance in effectively configuring your policy. Employers who fail to meet their workers' compensation responsibilities are subject to penalties.
Call us today to assess Workers Compensation Insurance options
If you choose us as your insurance brokers, we'll put our years of experience, in-depth knowledge of the industry, and helpful service to work for you to make sure your home, investment property, or portfolio is well protected in case something unexpected happens. No matter what criteria you give, we will research the market to find the homeowner's insurance policy and personal property coverage that fits your needs.