What Is Workers Compensation Insurance?
Workers’ Compensation Insurance is compulsory for all employers in Australia. Each state or territory has its own workers’ compensation scheme, run by independent regulators, with rules differing slightly between each jurisdiction. It covers both the medical bills of employees if they get sick or are injured at work as well as their wages during the period they are not fit for work.
Depending on the size and type of your business your obligations may differ. At AIB we can find a policy tailored to the specific needs of your business.
Who Should Consider It?
If you employ people in your business it’s very likely that you will require Workers Compensation Insurance. As highlighted above, employers are required by law to take steps to ensure their workplaces are safe. This includes having Workers’ Compensation Insurance for all their employees. This includes:
- Full time employees
- Part time, casual or seasonal workers
- Those working on a commission basis
- Directors working in an organisation
- Contractors and subcontractors (depending on the terms of the contract)
What It Can Cover
Workers’ Compensation Insurance pays employees who are injured at work or become sick because of their work. Workers’ Compensation can provide weekly benefits, medical and hospital expenses, rehabilitation services, certain personal items and a lump sum payment for permanent impairment on the basis set by the particular state or territory scheme.
Give the team at AIB a call today to discuss which Workers Compensation policy is best suited to your business.
How Can AIB Help You
Let AIB help you find a Workers Compensation Insurance policy for your business. We deliver:
Expert Knowledge:
With years of experience in the Australian insurance landscape, we offer expert advice tailored to the unique needs of your business.
Effortless Compliance:
We ensure your business adheres to all Australian state and territory regulations concerning workers compensation.
Supportive Claims Process:
Our dedicated team assists you through every step of the claims process, ensuring it is straightforward and stress-free.
