ABRIS INDUSTRY NEWS RSS

Show global menu

<< back

Major Changes to NSW Workers Compensation

1. New Workers Compensation Policies

Effective from March 2017 icare (previously WorkCover) will undertake workers compensation policies for any new business customers under the NSW Workers Compensation Scheme.

This means that from this date, any new business established in NSW will obtain their compulsory workers compensation insurance from icare as opposed to going to the current five Agents (Insurers).

At this stage policies can either be arranged with icare online or by phone. Brokers will still be able to arrange policies on behalf of their clients and we will continue to do so. The information required to set up a new policy is very similar to what had been requested previously.

New policies that are part of a group can still be arranged, at this stage, with the current Agent (Insurer).

Claims will continue to be managed by the current Agents and when a policy is arranged we will be able to choose which Agent we want to manage the claims for the new policy.

An online self-service site that will consolidate many of the functions and information will be launched soon. As a Broker we will be able to have access to our client’s premium information and be able to deal with icare in the same manner that we dealt with the individual Agents in relation to premium.

2. CGU to exit from NSW Workers Compensation

The contract that each of the current Agents (Insurers) have with icare will expire this year. It is expected that not all of the five current Agents will obtain a contract and the final decision announcing those who have been successful, is expected at the end of April.

CGU announced in early March that they will no longer be writing Workers Compensation business in NSW. Their exit from the scheme will begin from 30th June 2017 and be finalized by 31st December 2017.

At this stage , employers who have policies with CGU that are due for renewal are able to change Agents .This may not be the case when icare announce which Agents have been successful in securing a contract as they may impose a freeze on the movement of policies .

If this is the case, icare may allocate the CGU policies to one of the successful Agents. We will provide a further update as soon as it is available.

3. icare to take over Workers Compensation Premiums

icare have announced that they intend to take over the management of premiums in relation to all existing policies. This this will take effect from the end of April 2017.

This means that in the future, employers will no longer receive premium notices, calculations, and declarations etc. from their current Agent (Insurer) .Instead, any premium related information will come directly from icare. A sample of the documentation that Icare will be sending out can be seen below.

If your policy has already been renewed this change will not affect you until next renewal.

Adjustments for the 16/17 year will still be calculated by the incumbent Agent. An employer’s claims will also continue to be managed by their current Agent.

As your broker, we will be able to continue assisting our clients with all aspects of the premium process. Where we are the appointed broker we will have access to our clients’ policy details through icare. We will be able to continue to provide premium projections, lodge wage declarations and provide certificates of currency etc.

For those General Insurance clients, where we are not appointed to your Workers Compensation policies, we will be making contact with you shortly in order to obtain a Letter of Appointment. Without this appointment, we will not be able to assist you with any premium enquiries in the future.

4. New icare documentation

New renewal documentation will start to be sent out policy holders from icare as they take over the premium management from Agents from 30/04/2017.

A sample of the types of documentation coming from care can be seen by clicking the link below.

Sample icare documents.

Travel Insurance

Don’t worry while you’re enjoying holidays with family and friends – RIS can provide you with travel insurance that means relaxing times.

read more >>

Online Calculator

Use our Online Calculator to help you calculate the amount you need to best protect your interests...


read more >>

Income Protection

Providing the Financial security needed to protect your family and lifestyle.



read more >>

CTP Insure

We offer greenslips at competitive rates to both private and commercial drivers including fleets.


read more >>

Pay by the month

Premium funding: retain working capital, a tax deductible fixed interest rate, no loan security cost, flexible repayment options and multiple repayment methods.
read more >>