Workers' compensation is compulsory for most businesses in Australia. If you employ someone to work for you, whether it be full-time, part time, as a contractor, an apprentice or a trainee, you'll need to take out a workers' compensation policy.
Employers with annual wages of no more than $7,500 do not need to have a workers' compensation policy in NSW. This exemption does not apply to employers who engage an apprentice/trainee or who are members of a group for workers compensation purposes.
You will need to take out a policy if you hire:
All employees are covered by a workers compensation policy and are entitled to compensation for any injury that occurs in the course of their employment (where their employment is deemed to be a significant contributing factor).
If you are a sole proprietor or a member of a partnership, you are not a worker of your own business and therefore you cannot take out a Workers Compensation policy for yourself.
The easiest way to get a policy is through our online quoting system. You can get a quote, then continue on to purchase your policy. You can do it anywhere, anytime. It’s that simple. Our online system also enables you to get a certificate of currency and renew your policy online.
Alternatively, contact your insurance advisor or our customer service team on 1300 666 506.
Please note: if you are already covered by a workers compensation policy, make sure that your insuring agent has received your written cancellation request by 4pm on the expiry date of your policy.
The main component of your workers compensation premium will be calculated by multiplying your total wages by the industry classification set out by WorkCover New South Wales.
For some employers, additional premium may be payable over and above the basic tariff to take into account their claims experience and other government costs.
Please note that you may change from a small to medium employer during the course of a policy period.
We offer a number of free seminars, including a Premium Calculation seminar, to help you understand the complexities of workers compensation.
As a large employer, your claims performance can potentially have a significant impact on your premium.
CGU will work with you to focus on specific areas or claims that are negatively impacting your premiums, in order to reduce the cost of workers compensation. We’ll keep you regularly updated on how your portfolio is tracking and the impact any claims are having on your premiums. We can also provide you with benchmarking information to let you compare your workers compensation performance with your peers’.
We provide training to employers wanting to know more about how their premium is calculated and how to accurately forecast for the future
CGU offers a range of payment options including:
As an employer you have a number of obligations regarding your workers compensation policy, including:
As an employer, you also have obligations when one of your employees is injured at work. For further information, see the claims section for employers.
If you are currently grouped with the Office of State Revenue for payroll taxes, then you may also be grouped for workers compensation purposes.
Grouping applies for employers that have an annual payroll of $600,000 or more. Grouping also requires that all your policies are held with the one agent and that they have a common renewal date.
Our performance reporting tool, Workers Compensation Online, can help you keep track of your policy and premium, providing forecasts based on your claims experience and estimated wage information.