Workers Compensation Insurance | Workers Compensation in Australia

Workers’ Compensation in Australia | Workers Compensation

Workers’ Compensation is compulsory under State laws in all states and territories of Australia and is in place to provide wage and benefit protections to workers, including the requirement for employers to provide Workers’ Compensation insurance for their employees. It is imperative to ensure your company is compliant with the law with regards to employing workers as employees, and having workers’ compensation insurance in place.

Employees are your most valuable asset, and you can protect them and your business with Workers Compensation Insurance (workers comp), in meeting state industrial relations legal requirements.

Who does the Workers’ Compensation cover

Any sole trader or company that engages workers should be careful classifying staff as contractors instead of employees. Unless the workers have specialized professional skills and are contracting their services to company, companies are required to employ workers as employees, with employees entitled to employment benefits such as paid leave, superannuation and workers’ compensation.

This requirement affects most industries including health assistants, teachers, hairstylists, beauticians and most workers in the service industry.

What does Workers Compensation Insurance cover?

– Workers Comp covers injuries in the workplace and while workers are commuting to and from work. For Example, if an employee is injured while lifting inventory.
– Workers Comp covers employees while driving to and from their work. For example, if an employee gets in an accident while driving to work.

Who requires Workers’ Compensation

Basically any entity that is employing staff as employees, not as contractors, is required to provide benefits such as workers compensation.

Difference between Employees and Contractors

An employee, is any worker that has a manager or boss who exercises control over the worker.

On the other hand, to be classed as a contractor, a worker must be free from control of the entity, performing work outside the usual course of the hiring entity’s business, and engaged in an independently established trade, occupation or business of the same nature as the work they are performing.

Who does Workers Compensation protect

-Workers Comp protects both employees and employers from the financial effects of work related injuries.

Workers Comp

Workers Compensation Insurance is also know as Workers Comp.

How does Workers Compensation protect employees?

– Workers Comp provides benefits for work related injury or illness
– Workers Comp pays employees’ medical expenses
– Workers Comp helps to replace lost pay while out of work or disabled for a period of time

How does Workers Compensation protect employers?

– When an injured worker obtains Workers Compensation benefits they cannot sue the employer for damages

Workers Compensation Coverage for Sole Traders

Even if you are a Sole Trader with no employees, there are many good reasons to arrange Accident and Sickness Insurance in the place of  Workers Compensation,  as it can cover your own medical expenses and lost income while recovering.

Accident and Sickness Insurance benefits for Sole Traders and Directors

– Accident and Sickness Insurance and Workers Comp covers medical expenses
– Accident and Sickness Insurance Workers Comp covers lost income.

Risk Management Review | Income Protection

If you employ workers, please contact us today for information about how state and federal laws could affect your business and how we can ensure you are adequately covered with the most appropriate workers’ compensation insurance or accident and sickness insurance to cover you, your business and your workers.

Contact Stephen Thomas, Insurance Broker for more information about Workers Compensation, Workers’ Compensation Insurance Quotes, Accident and Sickness Insurance, Income Protection and Truck Insurance Quotes 

Source: Australian Insurance Quotes News