Nearly every business faces at least some risk of on the job accidents, whether it be carpal tunnel injuries, stress related incidents, a fall down the stairs or equipment malfunctions that cause loss of limb or even death.
If one of your employees is hurt while working for your business, you could be held responsible for paying related medical expenses as well as the wages he or she would have earned during his or her recovery period.
Workers Compensation laws are regulated at each state level in Australia, and in Western Australia we are regulated by WorkCover – The WA State Government Workers Compensation Regulator and Authority.
Workers Compensation insurance is obtained through brokers – who source coverage through 6 Workers Comp Insurers – who are all regulated by WorkCover. Every business is required to have Workers Compensation insurance.
Workers Compensation Insurance Explained
Commonly referred to as “workers comp”, Workers Compensation Insurance in WA is designed to protect your business by paying the costs associated with workplace illness and injury. In most cases, those include medical bills and lost wages — that is, the wages an injured employee would have earned had he or she been able to work during his or her recovery period.
Without insurance in place, those costs can be prohibitive: in addition to compensating the injured employee, a business often has to pay wages to a replacement employee to perform the duties the injured person is no longer able to carry out.
Workers Compensation Insurance WA also includes Employer’s Liability Insurance, which helps pay for your legal costs in the event that you have to defend yourself in court against an employee’s claim of illness or injury.
Those costs can be very large – even if the court finds that your business is not responsible for the illness or injury in question, you will have to pay for your legal defense, which might include attorneys’ fees, court costs, docket costs, witness fees, and more.
How Statewide Makes Buying Workers’ Compensation Insurance Easier
- Secure the Coverage You Need Fast.
- Choose from all Major Insurers.
- Get our Expert Opinion.
- Receive a Tailored Quote.
- Discounts Available.
- Consider Saving Money By Excluding Working Directors from Coverage.
In Western Australia it is not mandatory for Working Directors to include themselves in the cover, and by not including cover/wages, this can offer save tremendous amounts.
- Conduct regular safety training for employees.
The best way to avoid a claim is to avoid injuries in the first place. Be sure to instruct employees in the proper use of all equipment and materials, as well as in proper lifting and other injury-prevention techniques.
- Provide appropriate safety or ergonomic gear.
Whether your business involves keyboard time or heavy lifting, the right equipment can help prevent injury. Invest in appropriate safety or ergonomic equipment, and instruct employees in proper and consistent use.
- Keep a clean and safe workplace.
Regularly review your workplace for hazards, such as slippery floors or objects that could fall or be tripped over. Ensure that necessary repairs are made quickly and that warning signs and / or barriers are used to restrict access to high-risk areas.