Important changes to the NSW Workers Compensation Scheme

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The NSW Workers Compensation Scheme is in the midst of significant change throughout 2017. iCare (previously WorkCover NSW) are in the process of taking over all policy and premium management functions from the current scheme agents. This will be by way of a gradual transition throughout 2017.

 

An announcement is also to be made in April 2017 as to which Scheme Agents will retain their license to manage claims for the 2018-2020 contract period.

 

What we know:

  • iCare has developed an online platform which will gradually be enhanced to manage all workers compensation policies.
  • As of 1 March 2017 all new policies for small employers (i.e. less than $30,000 base premium) will be managed directly by iCare
  • Existing policies will gradually be transitioned to the iCare platform throughout 2017.
  • CGU have already advised they will not be seeking to renew their contract with iCare and as such are seeking to withdraw from the NSW scheme by 31 December 2017.

 

What this means for you:

  • Your next policy renewal may be managed by either your existing scheme agent or iCare depending on the size of your business and when your policy is due to renewal.
  • Similarly, any policy management functions will be taken over by iCare this year. E.g. policy changes, Certificates of Currency, payment arrangements etc.
  • If your current scheme Agent does not retain its license from 2018, then you will be transitioned to another Agent for new and existing claims management.

 

What this means for Insurance House:

  • iCare has implemented its own team to work with Brokers, as such Insurance House is in regular contact with iCare and receives updates and information regarding these changes.
  • Insurance House has been provided with our own unique Broker code, which enables us to be directly linked to your policy and manage these functions on your behalf.
  • Insurance House will also have direct access to an online portal where we can access the policies for all of our clients.
  • It will remain business as usual for existing Insurance House Workers Compensation clients in managing your policy and renewal.

 

How we can help:

  • By appointing Insurance House as your Broker to manage your Workers Compensation Policy we will simplify this process for you and also save you time through our direct access to iCare’s online portal and Broker customer service team.
  • Insurance House can also assist with a Consultancy Service to manage your claims and workers compensation program. Ask us about our free Health Check.

 

If you have any queries or would like further information as to how Insurance House can help you, one of our Workers Compensation specialists will be happy to assist. Please direct any queries to Yon Ta on (03) 9230 1241 or Yon.Ta@ihgroup.com.au.

 

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