Premium Rates and Scheme Insights
|
|
- Barry Kelley
- 8 years ago
- Views:
Transcription
1 d finitive [ workers compensation ] Keeping you informed. June 2013 Premium Rates and Scheme Insights In this edition of Finity s Workers Compensation d finitive we look at movements in premium rates across Australia and New Zealand. We also provide a snapshot of recent developments across the schemes. In this Edition: >> Premium rates >> Work related mental stress Premium Rates in 2013/14 Most schemes have released their premium rates for 2013/14, and the news is mixed. Rates generally remained stable in the centrally funded schemes, the exceptions being NSW where rates decreased following significant reforms in the past 12 months, and Comcare where rates have again been increased. Suggested premium rates have also increased for two of the privately underwritten states, Tasmania and the ACT, but fell slightly in Western Australia. The following graph shows premium rates* over the last three years. >> Recent developments across Australia and New Zealand Sydney Auckland Melbourne Wellington d finitive June 2013
2 Premium Rates Movement in premium rates for 2013/14 have been mixed. 3.0% 2.5% Premium Rates % of Wages 2.0% 1.5% 1.0% 0.5% 0.0% NSW VIC QLD SA Comcare NZ WA TAS ACT Centrally Funded Jurisdiction Privately U/W 2010/ / /13 * For centrally funded schemes, target rate set by regulator; for privately underwritten schemes suggested/recommended rates (rates achieved by individual insurers may vary). Change 2013/14 Commentary ACT TAS WA NZ Comcare SA QLD VIC NSW Down 7.5% on average Reductions follow significant reforms in 2012 Almost two-thirds of employers will receive rate reductions of up to 15% Not available Lowest workers compensation premium of any australian jurisdiction in 2012/13, at 1.298% Unchanged at 1.45% Rates had increased over each of the three previous years but experience has improved due to steady claim numbers and favourable investment performance Unchanged at 2.75% Strong investment returns offset deterioration in claims liability Up 3% to 1.82% Third successive year of rate increases due to increasing claims costs and reduction in funding ratio Premiums for 13/14 include a recovery margin designed to return the scheme to fully funded in 10 years Unchanged at 1.15% Rates remain at a historical low Rates maintained due to volatility and uncertainty in global financial markets, and a desire for sustainable premium reductions in future Scope for future reductions flagged Down 1% to 1.668% Removal of one-off adjustment for 2011 reforms has more than offset upward pressure from higher claim frequency and lower interest rates Up 4% to 2.36% Increases due to higher claim frequency and lower interest rates Suggested and achieved rates increased each year since 08/09 Achieved rates remain 20% lower than suggested rates Up 2% to 2.42% Increases reflect lower interest rates 2 d finitive June 2013
3 Mental Stress Claims Costing Employers Billions A recent Safe Work Australia report has found mental stress claims to be the most expensive workers compensation claims, resulting in around 10 times longer off work and costing around 11 times more than the average claim. While the incidence of mental stress claims has declined since the early 2000s, research indicates that the data on compensated claims underestimates the size of the problem, with some 70% of workers experiencing work-related stress not applying for workers compensation. A study by Medibank Private estimated the annual cost to the economy of work related mental stress was almost $15 billion in 2007, with the costs to employers alone being over $10 billion. However the true costs are likely to be much higher as these figures do not include the cost of other (physical) illnesses brought on by mental stress. Research suggests that it is work which is the main cause of stress, ahead of other factors such as finances, concerns about the future, health and relationships. Mental stress is therefore a real problem for employers. Key Findings: Mental stress workers compensation claims are the fifth most common, making up 3.4% of accepted claims in 2009/10, behind physical injuries caused by body stressing (38%), falls, trips and slips (19%), being hit by moving objects (18%) and hitting objects (10%). The incidence of mental stress claims was highest among professionals. The highest risk occupations were law and order, professional carers, teachers, and public transport drivers. Women were more likely to make a mental stress claim. The main causes of mental stress claims were work pressure (33%), work-related harassment and/or workplace bullying (22%) and exposure to workplace or occupational violence (21%). The report suggested that mental stress was best dealt with at an organisational level. While support for the individual is crucial, this generally only provided a short-term solution. Managing the sources of stress in the workplace would prove better in the long run. At the scheme level, recent reviews of a number of schemes (Comcare and Queensland) have recommended tightening coverage for psychological claims. June 2013 d finitive 3
4 Recent Scheme Developments Comcare Hanks Review Recommends Over 100 Changes The review by Peter Hanks QC into the Safety Rehabilitation and Compensation Act 1988 (SRC Act) was released on 30 March 2013, with over 100 recommendations for substantial changes to almost every area of the scheme including eligibility, benefits, claims administration, dispute resolution and even the structure of the Act itself. Also included were the recommendations of Allan Hawke AC, taken from his review of scheme performance, financials and governance. While the terms of reference stated no reduction to benefits would be considered, benefit changes were recommended, including: Tightening up coverage of mental injuries and manifestations of diseases (such as heart attack and stroke). Coverage for journey claims for on-call workers. Provisional liability for up to 12 weeks of incapacity payments and $3,000 in medicals. Weekly benefits changes to step downs, payment periods, and maximum duration (to be up to pension age), and the inclusion of superannuation. Medical benefits specified rates, and services to be provided only by qualified or accredited practitioners. Impairment benefits reductions for lower impairment levels and increases at higher impairment levels. Multiple impairments arising from a single injury may be combined. Hawke recommended a number of changes designed to improve the transparency of Comcare s financial position, including: Establishing a clear role for Commonwealth funding of Comcare when in deficit or in case of a catastrophe. Increasing the risk margin on outstanding claims to a 75% probability of sufficiency. Separating funds for Commonwealth and ACT premium payers. Both reports recommended lifting the moratorium on new self insurance licencees, and replacing the current competition test with a new national employer test of eligibility. 4 d finitive June 2013
5 In response to the review, Bill Shorten, Minister for Employment and Workplace Relations, announced that the Government will prioritise 21 recommendations, focussing on those relating to early intervention and rehabilitation and those which correct anomalies in the Act. The Government has also moved to tighten up coverage of mental injury claims. The Government is still considering the remaining recommendations of the review. Queensland Review Recommends No Major Change The Finance and Administration Committee review of the Queensland scheme was released in May The Committee was tasked with reviewing, among other things, scheme performance and WorkCover s financial position. Recommendations generally favoured maintaining the status quo, with no change to the definition of worker or injury and no change to journey claim coverage. The review also recommended maintaining existing common law provisions, noting the reforms implemented in 2010 were yet to be fully realised as claims for damages can continue to be lodged up to three years after injury. The Committee did however recommend no-win-no-fee and other such arrangements be reviewed, in order to reduce the prevalence of speculative claims. The committee also recommended limiting coverage for psychological injuries such that employment must be the major significant contributing factor, for this type of claim only. The review concluded that while current self insurance arrangements were working effectively, increased flexibility was desirable to make it easier to extend licences for existing self insurers and with respect to exit requirements for certain self insurers. What is a Worker? A bill tabled in Parliament on 30 April 2013 proposed changing the definition of worker to be consistent with the Australian Taxation Office, with clarification that independent contractors (who supply substantial equipment of their own) are not covered while contractors supplying mostly labour are covered. Improving Claim Trends Statutory claim frequency has remained stable over the past three years, with claims keeping pace with employee growth. Statutory claim payments however increased by more than 11% in 2011/12, due mainly to an increase in weekly compensation. Common law lodgements decreased by almost 5% in 2011/12, and the average cost of finalised claims reduced by 7%. June 2013 d finitive 5
6 NSW New Discounts for Small Employers Small employers are now eligible for the following premium discounts: >> A 10% upfront Employer Safety Incentive (ESI) discount, which the employer will retain if all workers injured during the period return to work within four weeks. >> A Return to Work Incentive of 10% of hindsight premiums, for employers who lose their ESI at the end of the year but manage instead to get all injured workers back to work within 13 weeks. The small employer premium threshold has increased to $30,000 (with no wages threshold) which moves more employers outside of the experience rating scheme. In addition, the discount for premiums paid in advance has increased from 3% to 5%. The retro paid loss methodology for certain approved large employers has also been amended with the claims run-off period reducing from four to three years. The methodology for recalculating premiums for groups has also been standardised. South Australia New Management Team There have been a number of new appointments at WorkCover: >> Rob Cordiner, a former Q-Comp executive, has been appointed GM Insurance. >> Michael Francis, also a former Q-Comp executive, has been appointed GM Scheme Improvement and Regulation. >> Julia Oakley continues in her role as GM Corporate Services. Victoria Return to Profitability in H1 2012/13 WorkSafe s half year results show a turnaround in scheme performance, with a net profit of $487 million, following losses in 2011/12 of $676 million. Results in the six months ending 31 December 2012 were buoyed by more favourable economic conditions, with higher investment returns and lower than forecast inflation. The scheme s funding ratio also improved to 100%, up 4% since 30 June d finitive June 2013
7 Changes to Premium Calculations After a recent review of its premium system, WorkSafe has proposed a range of changes: Experience rating for smaller employers. A 10% no-claim discount for employers with no claims during the experience period. Remuneration deductible of $7,500 (down from $15,500). Changes to the apprentice and trainee exemption to make it fairer for employers. No cap on premium rate increases for labour hire employers (currently capped at 30%). The last major review of workers compensation premiums in Victoria was completed more than 10 years ago and, other than minor adjustments to address anomalies as they have arisen, the premium system has remained largely unchanged in this time. If the changes are adopted, some will commence in the 2013/14 policy year. Western Australia Transitioning to ANZSIC 2006 WorkCover WA is moving to industry classifications based on ANZSIC 2006, with insurers required to code all new or renewed policies to both ANZSIC 2006 and ANZSIC 1993 from September Recommended premium rates are expected to transition to ANZSIC 2006 by March While the mapping from ANZSIC 1993 is expected to be relatively straightforward for around 60% of policies, WorkCover expects additional input may be required from brokers and/or employers in some cases. Public Sector Workers Compensation Audit A recent audit of the workers compensation experience of public sector workers in WA showed a 3% increase in claims incidence, compared to a general downward trend observed across other schemes. Total claim payments also increased, by 13% in real terms in the two years to 2011/12. Public sector premiums rose by more than 30% over the same period, with agencies paying $166 million to RiskCover (the government s insurer) in 2011/12. June 2013 d finitive 7
8 The report also found that: All but one of the agencies failed to follow best practice when developing RTW plans for injured workers. While most agencies carried out some monitoring and reporting of their injury management performance, most could improve. Half the agencies did not meet mandatory reporting requirements. The report also found that mental illness accounted for 10% of all claims in the public sector which compares to a nationwide average of 3.4%. Tasmania Review of Injury Management Program Guidelines Injury Management Programs were introduced in July 2010 as a part of the Return to Work and Injury Management Model. The WorkCover Tasmania Board is now commencing a review of its Injury Management Program Guidelines and has invited comments on their effectiveness, deficiencies and opportunities for improvement. Proposed Presumptive Cover for Fire Fighters Tasmania has introduced a bill to establish presumptive workers compensation coverage for fire fighters, with automatic coverage for 12 types of cancers (subject to qualifying employment periods and exposure to fire incidents). The bill proposes coverage for all current career and volunteer fire fighters, as well as cover for former fire fighters for up to 10 years following retirement (or last incident attended in the case of volunteers). The costs of the scheme are expected to be covered through existing workers compensation provisions. The move follows the introduction of similar legislation for Commonwealth fire service workers in A similar bill has also been introduced in Victoria, but has so far failed to gain the support of the government. 8 d finitive June 2013 Australian Capital Territory Levy to Fund the Cost of Regulation A new levy designed to fund the cost of regulating workers compensation in the ACT will be payable by all ACT insurers and self insurers from 2013/14. At the same time, the Default Insurance Fund (DIF) levy, which covers the cost of claims from uninsured employers, has been reduced. The amount of the new levy is capped such that premiums will not increase by more than 0.015% of wages as a result of the levy (net of the reduction in the DIF levy). The new levy is expected to increase from 1 July 2014 in order to also fund the costs associated with the Territory s work health and safety legislation.
9 Northern Territory Legislative Review on the Horizon? The newly established Workers Rehabilitation and Advisory Council has begun consideration of a review into the Workers Rehabilitation and Compensation Act based on suggestions made to NT WorkSafe over the last 10 years and encompassing reforms, national consistency and affordability. The review follows amendments to the Act which commenced 1 July They included changes to the definition of a worker to clarify coverage for contractors, and extending the period for payment of weekly benefits up to pension age. New Zealand New CEO for ACC Former Willis International CEO, Scott Pickering, is the new CEO for the Accident Compensation Corporation from 1 May His appointment follows the departure of former CEO, Ralph Stewart, in December Premium Rates to Decrease in Future The NZ Government has indicated that it is budgeting for levy reductions of around $300 million in 2014/15. In combination, the rate reductions in 2011/12 and further proposed reductions of $1 billion in 2015/16, mean premiums will have reduced by around 40% for households and businesses in New Zealand. Sources ACT: WorkSafe ACT Guidance Note 0105 Comcare: Budget Statements 2013/14; Safety Rehabilitation and Compensation Act Review by Peter Hanks QC, Feb NSW: WorkCover NSW Small Employers Reforms Factsheet; NSW Premier s media release 1 May NT: WRCAC communique 21 March NZ: ACC media release 5 March QLD: Q-Comp 11/12 Statistics Report; WorkCover QLD media releases 1 May 2013 and 22 May 2013, Finance and Administration Committee Report No. 28. SA: WorkCover SA media releases 6 February 2013, 21 March TAS: Government media release 30 April VIC: WorkSafe media release 12 March 2013, Improving WorkSafe Victoria s Injury Insurance Premium System Discussion Paper October WA: PWC 2013/14 recommended premium rates report, April 2013; WorkCover WA media release 9 April 2013; WA Auditor General s Report Management of Injured Workers in the Public Sector May Other: Safe Work Australia report The Incidence of Accepted Workers Compensation Claims for Mental Stress in Australia, April June 2013 d finitive 9
10 d finitive [ workers compensation ] If you would like to be added to the mailing list for future editions of our workers Compensation News, please contact: Finity s Workers Compensation Team Melinda Hall on or melinda.hall@finity.com.au Finity is one of Australia and New Zealand s leading actuarial and management consulting firms. Our dedicated Workers Compensation Team has extensive knowledge of accident compensation and is passionate about understanding both the financial dynamics and the social and community objectives of schemes. We combine our experience, industry insight and research with rigorous technical analysis to help you strengthen your business. Finity also specialises in general and health insurance, working closely with large and niche insurers as well as government agencies to deliver world-class actuarial, pricing and strategic advice. We provide Appointed Actuary services to around 35 APRA and RBNZ-regulated general insurers. Contacts Geoff Atkins geoff.atkins@finity.com.au Karen Cutter karen.cutter@finity.com.au David McNab david.mcnab@finity.com.au Andrew McInerney andrew.mcinerney@finity.com.au Please contact one of our workers compensation experts if you have any questions or comments on this newsletter. This article does not constitute either actuarial or investment advice. While Finity has taken reasonable care in compiling the information presented, Finity does not warrant that the information is correct. Further clarification can be sought from our consultants. Copyright 2013 Finity Consulting Pty Limited Australia & New Zealand Insurance Industry Award Service Provider of the Year 2006, 2007, 2008, 2009 and Australian Insurance Industry Awards - Inaugural Inductee into the Hall of Fame Australia Sydney Tel Level 7, 155 George St The Rocks, NSW 2000 Melbourne Tel Level 3, 30 Collins Street Melbourne, VIC 3000 New Zealand Auckland Tel Level 27, 188 Quay St Auckland 1010 Wellington Tel Level 16, 157 Lambton Quay Wellington 6140 Contact the Author Andrew McInerney Tel andrew.mcinerney@finity.com.au Sydney Office Finity Consulting Pty Limited ABN
Compendium of OHS and Workers Compensation Statistics. December 2010 PUTTING YOU FIRST
Compendium of OHS and Workers Compensation Statistics December 2010 PUTTING YOU FIRST Disclaimer This Compendium has been developed by Comcare and all attempts have been made to incorporate accurate information
More informationWorkCover claims. Report 18: 2014 15
Report 18: 2014 15 Queensland Audit Office Location Level 14, 53 Albert Street, Brisbane Qld 4000 PO Box 15396, City East Qld 4002 Telephone (07) 3149 6000 Email Online qao@qao.qld.gov.au www.qao.qld.gov.au
More informationAsbestos News. [ accident compensation ] The latest from Australia and elsewhere. Key:
d finitive [ accident compensation ] Keeping you informed. JUNE 2014 Asbestos News The latest from Australia and elsewhere News has been running hot in the asbestos area over the last six months. This
More informationComparative Performance Monitoring Report
SAFE WORK AUSTRALIA Comparative Performance Monitoring Report Comparison of work health and safety and workers compensation schemes in Australia and New Zealand Sixteenth Edition October 2014 DISCLAIMER
More informationCompendium of OHS and Workers Compensation Statistics. December 2009 AUSTRALIA S SAFEST WORKPLACES
Compendium of OHS and Workers Compensation Statistics December 2009 AUSTRALIA S SAFEST WORKPLACES Disclaimer This Compendium has been developed by Comcare and all attempts have been made to incorporate
More informationComparative Performance Monitoring Report
Comparative Performance Monitoring Report Comparison of work health and safety and workers compensation schemes in Australia and New Zealand 13th Edition SAFE WORK AUSTRALIA Comparative Performance Monitoring
More informationTort Temperature and what it means for personal injury claims
d finitive [ tort temperature ] Measuring the liability claims climate. MAY 2014 Tort Temperature and what it means for personal injury claims What is Tort Temperature? Tort Temperature describes the pressure
More informationKey Workers Compensation Information, Australia
Key Workers Compensation Information, Australia 2010 Key Workers Compensation Information, Australia 2010 Visit www.safeworkaustralia.gov.au for more information Commonwealth of Australia 2010 ISBN 978
More informationThe Chair Finance and Administration Committee Parliament House George Street BRISBANE QLD 4000. By email: fac@parliament.qld.gov.au.
The Chair Finance and Administration Committee Parliament House George Street BRISBANE QLD 4000 By email: fac@parliament.qld.gov.au 3 September 2012 Dear Mr Michael Crandon MP, OPERATION OF QUEENSLAND'S
More informationMULTI-STATE WORKERS COMPENSATION GUIDANCE MATERIAL
Topic : State : Premium 1. How To Apply For A New Worker s Compensation Policy AUSTRALIAN CAPITAL TERRITORY When is a new Workers Compensation policy required? Under s.147 of the Workers Compensation Act
More informationAustralia & New Zealand. Return to Work Monitor 2011/12. Heads of Workers Compensation Authorities
Australia & New Zealand Return to Work Monitor 2011/12 Prepared for Heads of Workers Compensation Authorities July 2012 SUITE 3, 101-103 QUEENS PDE PO BOX 441, CLIFTON HILL, VICTORIA 3068 PHONE +613 9482
More informationKey Workers Compensation Information, Australia
Key Workers Compensation Information, Australia 2011 Disclaimer The information provided in this document can only assist you in the most general way. This document does not replace any statutory requirements
More informationCOMPENDIUM OF WHS AND WORKERS COMPENSATION STATISTICS. October 2015 7th Edition
COMPENDIUM OF WHS AND WORKERS COMPENSATION STATISTICS October 215 7th Edition DISCLAIMER This information is for guidance only and is not to be taken as an expression of the law. It should be read in conjunction
More informationShould Private Health Insurers be More Competitive?
d finitive [ private health insurance ] Federal budget announcement. MAY 2012 Should Private Health Insurers be More Competitive? The government will establish PACU the Private Health Insurance Premiums
More informationCompendium of WHS and Workers Compensation Statistics. December 2012 PUTTING YOU FIRST
Compendium of WHS and Workers Compensation Statistics December 2012 PUTTING YOU FIRST Disclaimer This information is for guidance only and is not to be taken as an expression of the law. It should be read
More informationOptus Submission to Productivity Commission Inquiry into National Frameworks for Workers Compensation and Occupational Health and Safety
Optus Submission to Productivity Commission Inquiry into National Frameworks for Workers Compensation and Occupational Health and Safety June 2003 Overview Optus welcomes the opportunity to provide this
More informationPremium Reform in NSW: Past, Present & Future. Rob Thomson A/CEO, WorkCover NSW
Premium Reform in NSW: Past, Present & Future Rob Thomson A/CEO, WorkCover NSW 1 Overview Premium models: purpose and key principles Challenges in premium design The NSW experience 2005 reform initiative
More informationBACKGROUND COMMENTS. The Interim Report quotes from our initial submission:
BACKGROUND This submission is made further to the NSW Minerals Council s initial submission of September 2003 and our appearance before the 4 December 2003 public hearing in Sydney. Our comments remain
More informationReforming the NSW Workers Compensation System. Rob Thomson General Manager, Workers Compensation WorkCover NSW
Reforming the NSW Workers Compensation System Rob Thomson General Manager, Workers Compensation WorkCover NSW Outline NSW System overview NSW Scheme performance Reforming the NSW System Recent initiatives
More informationFOREWORD. Keith Brown Convenor, Heads of Workplace Safety & Compensation Authorities
FOREWORD This publication is an initiative of the Heads of Workplace Safety and Compensation Authorities (HWSCA). The HWSCA comprises the Chief Executives from all ten Australian Commonwealth State and
More informationNATIONAL INSURANCE BROKERS ASSOCIATION OF AUSTRALIA (NIBA) Submission to WorkCover Western Australia. Legislative Review 2013
NATIONAL INSURANCE BROKERS ASSOCIATION OF AUSTRALIA (NIBA) ABOUT NIBA Submission to WorkCover Western Australia Legislative Review 2013 February 2014 NIBA is the peak body of the insurance broking profession
More informationWORKERS COMPENSATION DIVISION INDUSTRY REFERENCE GROUP REPORT
WORKERS COMPENSATION DIVISION INDUSTRY REFERENCE GROUP REPORT February/March 2009 Amendments to Workers Compensation Legislation The Workers Compensation Legislation Amendment (Benefits) Act 2008 introduced
More informationWorkers Compensation Scheme Comparison. Julie Evans
Workers Compensation Scheme Comparison Julie Evans Are we reinventing the wheel? CPM reports (now at 8 th edition) HWCA benefit comparison (annual) Campbell RTW Monitor (annual) ASCC/NOHSC reports paper
More informationGovernment Response: Review into the Northern Territory Workers Compensation Scheme November 2014
Government Response: Review into the Northern Territory Workers Compensation Scheme November 2014 Government s Response to the Review Recommendations The Northern Territory Government supports a balanced
More informationS.I.A Sydney Safety Conference
S.I.A Sydney Safety Conference Harmonised Work Health and Safety Laws Presenter: Bill Kritharas, Partner Date: 23 October 2012 adelaide brisbane canberra melbourne newcastle perth sydney upper hunter Introduction
More informationKey Workers Compensation Information, Australia
Key Workers Compensation Information, 2013 Disclaimer The information provided in this document can only assist you in the most general way. This document does not replace any statutory requirements under
More informationHousing Affordability Report
Housing Affordability Report JUNE QUARTER Stable market but no reprieve for first home Housing affordability remained relatively steady in the June quarter of with the proportion of income required to
More informationAustralian Workers Compensation
Australian Workers Compensation Workers Compensation is a form of cover that provides compensation and medical care for employees who are injured in the course of employment Regulatory Framework The Workers
More informationAccident Compensation Act
Accident Compensation Act Changes to the Accident Compensation Act 1985 explained Edition No. 1 March 2010 Contents Introduction 1 Overview of changes 2 Key changes Workers entitlement to compensation
More informationWorkers compensation insurance. A guide for NSW employers
Workers compensation insurance A guide for NSW employers Disclaimer This publication may contain work health and safety and workers compensation information. It may include some of your obligations under
More informationHow To Reform Workers Compensation In Australia
NSW Workers Compensation Scheme Issues Paper Page 1 of 35 Purpose of this Issues paper There are many indications that the current Workers Compensation Scheme is failing the people of NSW, and urgent action
More informationA new Return to Work scheme for South Australians
A new Return to Work scheme for South Australians A policy statement to support the Return to Work Bill 2014 www.yoursay.sa.gov.au/yoursay/changes-to-workcover-august-2014-update Contents A message from
More informationCOMMINSURE HOME INSURANCE PREMIUM, EXCESS AND DISCOUNT GUIDE.
COMMINSURE HOME INSURANCE PREMIUM, EXCESS AND DISCOUNT GUIDE. This document provides you with information to help you understand how your total premium has been calculated, discounts that are available
More informationPotential economic benefits of private underwriting of statutory insurance schemes
www.pwc.com.au Potential economic benefits of private underwriting of statutory insurance schemes Non-catastrophic personal injury schemes November 2014 Disclaimer This report has been prepared by PricewaterhouseCoopers
More informationThe Comcare Self-Insurance Option Bruce Watson, Rod McInnes and Mark Hurst
The Comcare Self-Insurance Option Bruce Watson, Rod McInnes and Mark Hurst This presentation to be read in conjunction with the authors paper. Agenda 1. Productivity Commission report and the Comcare option
More informationWorking together to achieve optimal outcomes: Water & Waste industry
Working together to achieve optimal outcomes: Water & Waste industry Michelle Turton Customer Services Manager Overview Who we are, Our roles and Structure Our focus and key measures Statistics and the
More informationWill Queensland's focus on supporting people and fixing processes improve financials in the long term?
Sunshine state By: Dr Mary Wyatt Will Queensland's focus on supporting people and fixing processes improve financials in the long term? Unlike most other Australian jurisdictions, Queensland has a publicly
More informationCTP News. [ accident compensation ] In this edition, we:
d finitive [ accident compensation ] Keeping you informed. MARCH 2014 CTP News Interaction between private insurers and LTCS is being tested in NSW. NRMA has withdrawn from Queensland. Legislation has
More informationAccident Compensation Amendment Act 2015
Accident Compensation Amendment Act 2015 Public Act 2015 No 71 Date of assent 4 September 2015 Commencement see section 2 Contents Page 1 Title 2 2 Commencement 2 3 Principal Act 2 4 New section 5A inserted
More informationWorkers guide to workers compensation Guide
Workers guide to workers compensation Guide www.worksafe.nt.gov.au Disclaimer This publication contains information regarding workers rehabilitation and compensation. It includes some of your obligations
More informationTHE NSW COMPULSORY THIRD PARTY GREEN SLIP INSURANCE SCHEME: SUBMISSION TO THE CONSULTATION ON THE PROPOSED REFORMS
The Hon Greg Pearce MLC Minister for Finance & Services Minister for the Illawarra 5 April 2013 Dear Minister THE NSW COMPULSORY THIRD PARTY GREEN SLIP INSURANCE SCHEME: SUBMISSION TO THE CONSULTATION
More informationHow To Write A National Compensation Scheme
A Best Practice Workers Compensation Scheme Insurance Council of Australia 2015 Finity Consulting Pty Limited 21 Mr Rob Whelan Chief Executive Officer Insurance Council of Australia PO Box R1832 Royal
More informationHealth & Safety Law. Part 2: Workers Compensation Law & Injury Management. Workers Compensation Law
Health & Safety Law Part 2: Workers Compensation Law & Injury Management Workers Compensation Law The Accident Compensation Act 1985; Accident Compensation (WorkCover Insurance) Act 1993; and, Workers
More informationWestern Australian CTP Scheme Update
Western Australian CTP Scheme Update Fab Zanuttigh - Manager Motor Vehicle Personal Injury Division Insurance Commission of Western Australia April 2007 INTRODUCTION Highlights - Past 3 Financial Years
More information21 August 2015 ACSA CONTACTS
ACSA response to Exposure Draft Legislation Tax and Superannuation Laws Amendment (2015 Measures No. #) Bill 2015: Limiting fringe benefit tax concessions on salary packaged entertainment benefits 21 August
More informationPublic liability and professional indemnity insurance. Third monitoring report
Public liability and professional indemnity insurance Third monitoring report July 2004 Commonwealth of Australia 2004 ISBN 1 920702 53 9 This work is copyright. Apart from any use as permitted under the
More informationHEADS OF WORKERS COMPENSATION AUTHORITIES COMPARISON OF WORKERS COMPENSATION ARRANGEMENTS AUSTRALIA & NEW ZEALAND OCTOBER 2005
HEADS OF WORKERS COMPENSATION AUTHORITIES COMPARISON OF WORKERS COMPENSATION ARRANGEMENTS AUSTRALIA & NEW ZEALAND OCTOBER 2005 CONTENTS Statistical Information 2 Scheme Details 4 Scheme name 4 Legislation
More informationComcare, the Safety, Rehabilitation and Compensation Commission, and the Seafarers Safety, Rehabilitation and Compensation Authority
Comcare, the Safety, Rehabilitation and Compensation Commission, and the Seafarers Safety, Rehabilitation and Compensation Authority Agency Resources and Planned Performance COMCARE, THE SAFETY, REHABILITATION
More informationFire-fighters Cancer Risk
Fire-fighters Cancer Risk Prepared by Lisa Simpson and Kathryn Cannon. Presented to the Actuaries Institute Injury Schemes Seminar 10 12 November 2013 Gold Coast This paper has been prepared for the Actuaries
More informationCOMPARISON OF WORKERS COMPENSATION ARRANGEMENTS
HEADS OF WORKERS COMPENSATION AUTHORITIES COMPARISON OF WORKERS COMPENSATION ARRANGEMENTS & NEW ZEALAND OCTOBER 2003 CONTENTS Statistical Information 2 Scheme Details 4 Scheme name 4 Legislation 4 Responsibility
More informationMULTI-STATE WORKERS COMPENSATION GUIDANCE MATERIAL
Topic : Item : State : Compensation 1. Notifying of injury and claim lodgement AUSTRALIAN CAPITAL TERRITORY When does an Employer need to report a workplace injury? If an accident has caused the death
More informationInsurance Insights. When markets hit motorists. How international financial markets impact Compulsory Third Party insurance
Insurance Insights When markets hit motorists How international financial markets impact Compulsory Third Party insurance August 2012 Chris McHugh Executive General Manager Statutory Portfolio Commercial
More informationWORKCOVER WA REVIEW OF THE WORKERS COMPENSATION AND INJURY MANAGEMENT ACT 1981 FINAL REPORT
Mr Chris White A/Chief Executive Officer WorkCover WA 2 Bedbrook Place Shenton Park WA 6009 31 July 2014 Dear Mr White WORKCOVER WA REVIEW OF THE WORKERS COMPENSATION AND INJURY MANAGEMENT ACT 1981 FINAL
More informationLESLEY MORRISON General Manager Recovery and Support, Comcare
LESLEY MORRISON General Manager Recovery and Support, Comcare 1 Comcare Update SRC Act, Comcare and Seacare Reviews underway New Deputy CEO, Ms Cathy Skippington commenced New Service Delivery Directors
More informationAccident Compensation Amendment Bill
Accident Compensation Amendment Bill (Divided from the Health and Safety Reform Bill) Government Bill As reported from the committee of the whole House This Bill was formerly part of the Health and Safety
More informationNSW Sports Federation: Workers Compensation Reforms
NSW Sports Federation: Workers Compensation Reforms Wednesday, 23 October 2013 Sonya Jenkins Manager Commercial Services Workers compensation insurance division 1 Outline Workers Compensation legislative
More informationKey Work Health and Safety Statistics, Australia
Key Work Health and Safety Statistics, Australia 2014 Disclaimer The information provided in this document can only assist you in the most general way. This document does not replace any statutory requirements
More informationAEMC Electricity Price Trends report released
AEMC Electricity Price Trends report released AUSTRALIAN ENERGY MARKET COMMISSION LEVEL 5, 201 ELIZABETH STREET SYDNEY NSW 2000 T: 02 8296 7800 E: AEMC@AEMC.GOV.AU W: WWW.AEMC.GOV.AU The Australian Energy
More informationThis chapter notes, where appropriate, further legislative reforms by the Commonwealth and each State or Territory jurisdiction.
FURTHER REFORMS Since 2002, jurisdictions across Australia have taken account of their individual circumstances and made alterations to their legislative regimes additional to the comprehensive programme
More information7.1 What is this chapter about? 149. 7.2 What are the federal workers compensation schemes? 150
Chapter 7: Workers Compensation CHAPTER CONTENTS 7.1 What is this chapter about? 149 7.2 What are the federal workers compensation schemes? 150 7.3 Do federal workers compensation schemes recognise same-sex
More informationWHAT S HAPPENING WHS & WORKERS COMPENSATION SYSTEM. Greg Pattison 17 May 2012
WHAT S HAPPENING WHS & WORKERS COMPENSATION SYSTEM Greg Pattison 17 May 2012 WHAT S HAPPENING WHS WHS HARMONISATION- SORT OF MAYBE SOME DAY? IN Commonwealth Queensland Northern Territory ACT NSW ( with
More informationNATIONAL WORKERS COMPENSATION AND OCCUPATIONAL HEALTH AND SAFETY FRAMEWORKS
NATIONAL WORKERS COMPENSATION AND OCCUPATIONAL HEALTH AND SAFETY FRAMEWORKS SUBMISSION TO THE PRODUCTIVITY COMMISSION FROM THE BUSINESS COUNCIL OF AUSTRALIA 1 INTRODUCTION SUBMISSION The BCA makes the
More informationHeads of Agreement between the Commonwealth and Queensland Governments on the National Disability Insurance Scheme
Heads of Agreement between the Commonwealth and Queensland Governments on the National Disability Insurance Scheme This Agreement is made BETWEEN the COMMONWEALTH OF AUSTRALIA (Commonwealth) and the STATE
More informationInsurance Insights What scheme works when people get hurt? Reflections on underwriting options for personal injury insurance
Insurance Insights What scheme works when people get hurt? Reflections on underwriting options for personal injury insurance November 2012 Anthony Day Chief Executive Officer Commercial Insurance Suncorp
More informationCommon law in the workers compensation setting
Briefing paper for SISA members February 2014 Contact: Robin Shaw, Manager Ph: 8232 0100 Fax: 8232 0113 Mobile: 0411 778 251 Contents Introduction... 1 Background... 2 Common law in the workers compensation
More informationPerformance management program
Performance management program For Queensland workers compensation insurers First issued: 28th October 2003 Due for review: June 2012 Version 6 State Government of Queensland (Q-COMP) 2009 Contents Introduction...3
More informationWORKERS COMPENSATION A PROGRAM FOR REFORM IN SOUTH AUSTRALIA
Business SA Enterprise House 136 Greenhill Road Unley South Australia 5061 Telephone 08 8300 0000 Facsimile 08 8300 0001 www.business-sa.com BUSINESS SA HEADER CONTENTS HEADER Introduction 2 Overview 3
More informationFeedback on the Inquiry into Serious Injury. Presented to the Road Safety Committee of the Parliament of Victoria. 08 May 2013
Feedback on the Inquiry into Serious Injury Presented to the Road Safety Committee of the Parliament of Victoria 08 May 2013 About the APA The Australian Physiotherapy Association (APA) is the peak body
More information2 March 2015. Mutual Recognition Schemes Study Productivity Commission Locked Bag 2 Collins Street East MELBOURNE VIC 8003
2 March 2015 Mutual Recognition Schemes Study Productivity Commission Locked Bag 2 Collins Street East MELBOURNE VIC 8003 Sent via email to: mutual.recognition@pc.gov.au Dear Commissioner, Master Electricians
More informationpwc.com.au NT WorkSafe Actuarial review of Northern Territory workers compensation scheme as at June 2014
pwc.com.au NT WorkSafe Actuarial review of Northern Territory workers compensation scheme as at June 2014 30 June 2013 Key findings Funding ratio The following table shows the funding ratio for the scheme
More informationInformation about the proposed 2016/17 levy rates for Levy Risk Group 951: Business and Community Organisations
Information about the proposed 2016/17 levy rates for Levy Risk Group 951: Business and Community Organisations Business and professional association services Interest group services (not elsewhere classified)
More informationDEALING WITH WORKPLACE BULLYING - A WORKER S GUIDE NOVEMBER 2013
DEALING WITH WORKPLACE BULLYING - A WORKER S GUIDE NOVEMBER 2013 Safe Work Australia is an Australian Government statutory agency established in 2009. Safe Work Australia consists of representatives of
More informationAccident Compensation Corporation. Personal Injury Insurance for all New Zealanders
Accident Compensation Corporation Personal Injury Insurance for all New Zealanders Find out how the ACC Scheme works and how you can have your say on what you pay Deadline for submissions 5.00 pm, 10 November
More informationInformation about the indicative 2016/17 levy rates for Levy Risk Group 723: Management and Consulting Services
Information about the indicative 2016/17 levy rates for Levy Risk Group 723: Management and Consulting Services Corporate head office management services Management services and related consulting services
More information1.1 Australian Capital Territory 1.2 New South Wales 1.3 Northern Territory 1.4 Queensland
Attachment C 1. Workers Compensation Schemes 1.1 Australian Capital Territory 1.2 New South Wales 1.3 Northern Territory 1.4 Queensland 1.5 South Australia 1.6 Tasmania 1.7 Victoria 1.8 Western Australia
More informationJOINT COMMUNIQUE MINISTERIAL MEETING ON PUBLIC LIABILITY INSURANCE. Brisbane 15 November 2002
JOINT COMMUNIQUE MINISTERIAL MEETING ON PUBLIC LIABILITY INSURANCE Brisbane 15 November 2002 Commonwealth, State and Territory Ministers and the Senior Vice President of the Australian Local Government
More informationNational Disability Insurance Scheme (NDIS): Funding the Unfunded Commitment
National Disability Insurance Scheme (NDIS): Funding the Unfunded Commitment prepared for the Insurance Council of Australia April 2012 NDIS is currently a $6.5 billion per annum unfunded commitment this
More informationAPRA Capital Review update on Insurance Concentration Risk Charge
APRA Capital Review update on Insurance Concentration Risk Charge This note provides a brief update (as at 14 September) of what we know about the Insurance Concentration Risk Charge (ICRC) in APRA s current
More informationLong Term Trends in Worker Compensation Claims
Long Term Trends in Worker Compensation Claims Prepared by Rod McInnes, Bruce Watson and Rob Thomson Presented to the Institute of Actuaries of Australia 12 th Accident Compensation Seminar 22-24 November
More informationHealth Commission Final Report - Major Changes for Private Health Insurers
Health Commission Final Report - Major Changes for Private Health Insurers The National Health and Hospitals Reform Commission (NHHRC) recently produced its final report. While much of the content of the
More informationLICENSING POLICY OF THE WORKCOVER AUTHORITY FOR SELF-INSURERS AND GROUP SELF INSURERS LICENSED UNDER SECTION 211 OF THE WORKERS COMPENSATION ACT, 1987
LICENSING POLICY OF THE WORKCOVER AUTHORITY FOR SELF-INSURERS AND GROUP SELF INSURERS LICENSED UNDER SECTION 211 OF THE WORKERS COMPENSATION ACT, 1987 Self-insurance relieves an employer or corporate group
More informationIntroduction... 4. Workers compensation authorities and organisations in Australia... 4
2 of 96 Introduction... 4 Workers compensation authorities and organisations in Australia... 4 Operations and assistance available within the Queensland workers compensation scheme... 8 Claims process
More informationHome loan affordability report
Home loan affordability report Joint Quarterly Survey No. 89. ember Quarter Low affordability challenges Gen X, Y Home loan affordability has taken another beating as the proportion of family income required
More informationInformation about the indicative 2016/17 levy rates for Levy Risk Group 724: Business Support Services
Information about the indicative 2016/17 levy rates for Levy Risk Group 724: Business Support Services Call centre operation Credit reporting and debt collection services Document preparation services
More informationInformation about the 2015/16 levy rates for Levy Risk Group 701: Computer services. Computer systems design and related services
Information about the 2015/16 levy rates for Levy Risk Group 701: Computer services Computer systems design and related services Contents Introduction... 4 The levy setting process... 4 About this document...
More informationWorkers compensation insurance. Application
Workers compensation insurance Application Workers compensation insurance Please complete this application carefully to ensure that it meets your needs. How to complete this form 1. Read the important
More informationWorkers compensation benefits guide
Workers compensation benefits guide December 2015 Disclaimer This publication may contain information about the regulation of workers compensation in NSW. It may include some of your obligations under
More informationUS Health Reform - What s happened, and does it matter to Australian health insurers?
US Health Reform - What s happened, and does it matter to Australian health insurers? The Australian media have provided a great deal of coverage of US health reforms without really explaining what is
More informationWorkers compensation benefits guide
Workers compensation benefits guide October 2015 Disclaimer This publication may contain information about the regulation of workers compensation in NSW. It may include some of your obligations under some
More informationBasic Ministerial Skills:
Basic Ministerial Skills: ) Blurring issues 2) Delaying decisions 3) Dodging questions 4) Juggling figures 5) Bending facts 6) Concealing errors WORKERS COMPENSATION AND OH&S NEWSLETTER November 2000 A
More informationunderstanding your workers compensation accident insurance policy A guide to your policy cover and conditions
understanding your workers compensation accident insurance policy A guide to your policy cover and conditions AIPG May 2015 contents About WorkCover Queensland 3 About your accident insurance policy 3
More informationOne of the Australian Government s core economic policy objectives is improving Australia s productive capacity.
Outcome 4: Safer, fairer and more productive workplaces for employers and employees by promoting and supporting the adoption of fair and flexible workplace arrangements and safer working arrangements Outcome
More informationA guide for injured workers. Introducing WorkSafe
A guide for injured workers Introducing WorkSafe September July 2013 2011 Contents 1. About us 1 2. Weekly payments (income entitlements) 2 3. Services to help you get better 4 4. Getting back to work
More informationLevy Consultation 2010/11. Accident Compensation Corporation. Work Levy Rates for Employers and Self-Employed People
Levy Consultation 2010/11 Accident Compensation Corporation Work Levy Rates for Employers and Self-Employed People Your chance to have your say on what you pay Deadline for Submissions 5.00 pm, 10 November
More informationWORKCOVER in TASMANIA
WORKCOVER in TASMANIA WWOOF Australia has been looking into the need for Hosts to have WorkCover Insurance in Tasmania; this information is current as at May 2007. WorkCover Insurance in Tasmania gives
More informationSubmission on Review of Safety, Rehabilitation and Compensation Act 1988 Issues Paper September 2012
Submission on Review of Safety, Rehabilitation and Compensation Act 1988 Issues Paper September 2012 I should say that I have first-hand knowledge and experience with workers compensation claims by virtue
More informationInformation about the 2015/16 levy rates for Levy Risk Group 724: Business support services
Information about the 2015/16 levy rates for Levy Risk Group 724: Business support services Call centre operation Credit reporting and debt collection services Document preparation services Educational
More informationWorkers Compensation and Rehabilitation and Other Legislation Amendment Bill 2015
Workers Compensation and Rehabilitation and Other Legislation Amendment Bill 2015 Explanatory Notes Short title The short title of the Bill is the Workers Compensation and Rehabilitation and Other Legislation
More informationContact us. Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au. Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au. www.kpmg.com.
Contact us Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au www.kpmg.com.au No reliance This report should not be regarded as suitable
More informationNational Training Schedule
2015 National Training Schedule January - June 2015 We manage claims...better Gallagher Bassett is committed to assisting our clients manage their WorkCover and Occupational Health and Safety needs. To
More information