Workers' Compensation Insurance
Workers’ compensation insurance pays employees who are injured at work or become sick because of their work. Employers are required by law to take steps to ensure their workplaces are safe.
What is workers' compensation insurance?
Workers’ compensation insurance pays employees who are injured at work or become sick because of their work. Employers are required by law to take steps to ensure their workplaces are safe. This includes having workers’ compensation insurance for all their employees.
Who should consider workers' compensation insurance?
Workers’ compensation insurance is compulsory for all employers in every state and territory in Australia. Each state or territory has its own workers’ compensation scheme, run by independent regulators, with rules differing slightly between each jurisdiction.
What can workers' compensation insurance cover?
Worker’s compensations 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.
|Type of cover||Potential benefits|
|Employees’ wages||Wage coverage for the employee if they are not fit to work|
|Employee injury||Cost of their medication & rehabilitation|
What usually isn't covered by workers' compensation insurance?
Exclusions, the excess you need to pay and limits of liability can vary greatly depending on the nature of the product you are purchasing, the associated risk, the insurer and the requirements of your business. There are exclusions which are specific to each type of policy, which your Westphalian insurance broker can outline for you.