Workers Compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment. This insurance generally relinquishes the employee’s right to sue his or her employer for the tort of negligence. Steadfast Workplace Risk offers a professional, value-added premium, claims and risk management service to assist employers in the dynamic workers compensation environment. Although workers compensation is a statutory insurance it is not managed or controlled by the federal government, but is instead governed by each state or territory, which has its own legislation, regulations and systems. For national employers this means that you will need to place insurance and manage claims with multiple regulators, agents and insurers operating under these environments. In Australia, the workers compensation regulators are as follows:-
Australian Capital Territory – Work Safe ACT
New South Wales – icare
Northern Territory – NT Work Safe
Queensland – WorkCover Queensland
South Australia – Return To Work SA
Tasmania – WorkCover Tasmania
Victoria – WorkSafe Victoria
Western Australia – WorkCover WA
Self-insurance is an option for larger employers, with eligibility criteria different at either a federal, state or territory level, and again each governed by various regulators. Steadfast Workplace Risk can assist you in determining your eligibility and process to obtain a self-insurance licence.
How can we add value?
Broking/Premium
Steadfast Workplace Risk places workers compensation insurance cover for employers in all jurisdictions. Our national team can provide you with comprehensive advice including:
Understanding your business and structure
Reviewing your classifications in all States and Territories
Premium projections – advising of liability exposures
Setting up national insurance programs and agent/insurer tenders
Negotiating program/rates in risk states (WA, NT, TAS & ACT)
Helping minimise premiums in managed fund states (NSW, VIC, SA & QLD)
Education and training on premium calculations
Wages Definition
How claims decisions impact premiums
Providing advice on the impacts as your business grows and develops
Impacts of acquisitions and mergers
Premium funding
WorkCover appeals and retrospective adjustment
Self-Insurance and Retro Paid Loss advice
Claims Management
Steadfast Workplace Risk can assist our clients to implement effective injury management protocol. Our aim is to assist and support our clients and their injured workers to achieve prompt and durable return to work outcomes by way of:
Utilising our early intervention infrastructure
Encouraging and facilitating early reporting of injuries
Developing and implementing injury management strategies using an evidence-based approach (ODG)
Helping ensure that costs on the claim are justified by proven results
Assisting with legislative requirements
Ongoing management with various stakeholders i.e. insurers/agents, legal/medical providers etc
Return to Work
In some jurisdictions, it is a legislative requirement for an employer to have an accredited Return To Work (RTW) Co-ordinator (criteria based on size of employer). Steadfast Workplace Risk currently provides and assist employers with the following obligations, but not limited to:
Developing and reviewing Injury Management and Rehabilitation policies and procedures followed by updating and training relevant staff
Notification of claims as per the legislative requirements
Stakeholders contact and case conferencing with treating doctors
Contacting health providers to monitor compliance and updating a worker’s current capacity for work
Developing RTW programmes and plans as legislatively required
Reviewing medical certificate compliance
Assisting in calculations and following up wage reimbursement entitlements
