Important Worker’s Compensation information for 2015 for NSW business owners
The Workers Compensation Scheme Agent Deed is a contract between the Workers Compensation Nominal Insurer, and insurance companies that authorises selected scheme agents (previously called insurers) to provide Worker’s Compensation services to employers in NSW.
The Nominal Insurer is taken to be a licensed insurer and WorkCover acts on behalf of the Nominal Insurer in undertaking its functions.
Scheme agents (insurance agents) agree to provide policy and claims management services in the NSW Worker’s Compensation scheme on behalf of the Nominal Insurer. The Nominal Insurer monitors scheme agent performance based on data submitted by scheme agents and other sources. Scheme Agent Deeds are usually current for a period of three to five years.
Approved Scheme Agent’s 2015
The Workers Compensation Nominal Insurer has selected five scheme agents (insurers) to provide policy and claims management services in the NSW Worker’s Compensation scheme under the 2015 Scheme Agent Deed.
The following organisations have been appointed:
- Allianz Australia Workers’ Compensation (NSW)
- CGU Workers Compensation (NSW) Limited
- Employers Mutual NSW Limited
- GIO General Limited
- QBE Workers compensation (NSW) Ltd
Commencing 1 January 2015, these scheme agents are approved for an initial period of three years with an option to extend for two one-year periods.
The 2015 deed aims to provide improved services for workers and employers and supports workers to recover at or Return To Work.
Gallagher Bassett Services (GBS) and Xchanging, who operated in the scheme up until 31 December 2014 were not appointed under the new arrangements.
What will change for employers and workers?
For the majority of employers and injured workers there will be no change to their Workers Compensation insurer.
Some employer policies and injured worker claims will be transferred to another insurer.
During 2015, all claims and policies managed by Gallagher Bassett Services (GBS) and Xchanging will be transferred as directed by the Nominal Insurer.
It is anticipated that the transfer process will be completed by 31st December 2015.
A number of employer policies will also be transferred in 2015 from QBE.
Information and assistance will be provided to employers, injured workers and service providers to achieve a smooth transfer of claims and policies and minimise disruption.
If you have any further questions please contact your current Worker’s Compensation scheme agent.
For further information contact WorkCover NSW on 13 10 50 or email email@example.com