Workers Compensation Insurance

Just realised that I had already go the information for most of the required insurance types so far, accept Workers Compensation Insurance. This is once again information that I have obtained directly off the Acumen website;

• In all states and territories uit is compulsory at law for an employer to effect workers' compensation insurance. Policies are related to the ast, which applies in each state or territory, and in addition, protect the emplyer against common law claims brought about by the employees and / or their dependants.


• The range of benifits differ fronm state to statem, but, broadly, the policy can provide a lump sum payment for death, perminent disability, loss of use of limbs, etc. Weekly compensation and payment of medical expenses. Cover is priovided whilst the employee is at their place of work, or anywhere in Australia whilst engaged in occupational duties.


• However, should an employee who is resident, say in South Australia, meet with an accident whilst working in NSW, he of she could elect to claim under the NSW's act, and probably would if the benifits were greater. It is recommended that practices with employees who travel intersate refer to their workers compensation insurer, to arrange cover for those employees interstate.


• Where a practice has employees working interstate, it is advisable to effect a minimum premium policy for each appolicable state.