With changes to the Coal Industry Act 2001 that will come into effect on 1 July 2018, here are the key updates you need to be across to ensure you’re compliant.
What you need to know:
- As of 1 July 2018, any employer of employees who work in or about a coal mine will be required to be insured for workers compensation
- The approved workers compensation company under the Act is Coal Mines Insurance
- A three-month grace period from July (by 1 October) has been granted to allow sufficient time for employers to ensure compliance
For technical advice on the scheme or any other workplace risk related queries, please feel free to contact our team on workplacerisk@honan.com.au.
Protecting cash flow, guarding against late and/or non-payments from customers, and securing your company’s own creditworthiness is critical to business sustainability. This article looks at two key ways you can limit your liquidity risks: credit reports and trade credit insurance.