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By Sharon Rutherford - Head of Risk Consulting
In Western Australia, discussion around the adoption of the revised Workers' Compensation and Injury Management Bill continues. Debate, for instance, includes the definition of a ‘worker’ when it comes to the commencement of benefits for pending claims. Of greatest potential impact to insureds, is the removal of Principles Indemnity with Waiver of Subrogation. For businesses and their employees, this may result in complexities upon contractual engagements and increased exposure for the Principal as an insured party.
We will continue to monitor developments around this Bill, and keep you updated.
Industry rate changes have not yet been released for States and Territories, however, an announcement is expected over the coming month. Entering June 30 renewal season, it is now critical for clients to work closely with their broker to understand fluctuations in premiums and whether they are likely to be impacted by industry rate changes imposed by regulators. With premiums driven by claims performance, clients are encouraged to start working with their broker/claims agent more closely than ever. As always, we’re here and ready to assist!
In Queensland, a new Bill has been introduced seeking to amend the Workers’ Compensation & Rehabilitation Act 2003 to address claim-farming.
Claim-farming involves third parties such as call centres, email, or social media, as well as health providers, financially benefiting from pressuring people injured at work to engage lawyers to make a claim. This is the first time this scope of legislation has been considered and is certainly innovating the industry in this regard. While Workers’ Compensation is based on a no-fault scheme, opportunistic groups seek to leverage the scheme to their benefit. If passed, this QLD Bill could encourage other State Schemes to adopt a similar practice.
For further insights into emerging trends in workers’ compensation, be sure to review the critical summary from our recent Honan Workplace Risk Webinar here.
Meet the Honan Workplace Risk Team.
