Workers' compensation is an insurance cover that provides compensation for employees that get injured at the workplace. It is a compulsory cover in all Australian workplaces. Below are some frequently asked questions (FAQs) about workers' compensation insurance.
What Does Workers' Compensation Cover?
Workers' compensation insurance covers your employees. It does not cover suppliers, customers and other third parties that visit the business premises. Depending on the insurance company, the owner and sub-contractors may or may not be covered by the policy. Some insurance companies will combine workers' compensation with other covers such as general liability. It helps reduce your insurance premiums.
How Do You Apply For Workers' Compensation Insurance?
Your first task is to look for a reputable insurance company that provides workers' compensation insurance. Typically, the insurance company should have a friendly customer care department and a straightforward claims processing procedure. The insurance company will need to understand your business operations. As such, they will visit your premises to evaluate the number of employees, their salaries and the risks they face at the workplace. You will pay more premiums if your employees work in a hazardous environment.
What Are The Insurance Exemptions?
Workers' compensation insurance has various exemptions. For instance, most insurers will not compensate employees who get injured past working hours or those that suffer injuries when committing a crime. The insurance company will not compensate injured employees if the employer does not pay his or her annual premiums.
What Should You Do In Case Of An Injury?
If an employee gets injured on your premises, take him or her to a medical facility and inform the insurance company of the accident. Take photos of the accident and witness statements to understand what caused the accident. This evidence will help the insurance company ascertain that the injuries occurred in the workplace.
How Long Does It Take Take To Process Your Claim?
It may be difficult to approximate how long the insurance company will take to process the claim. A compensation lawyer will help out with the claims process. Most insurance companies will send an adjuster to interview the injured party, assess the injuries and determine the cause of the accident. Preferably, your lawyer should be present during the interview. Other than your hospital bills, the lawyer could also claim compensation for lost wages, pain and suffering, rehabilitation and death.
Workers' compensation helps business owners avoid legal battles and financial losses associated with workplace injuries. Take the cover from a licenced and reputable insurance company. Besides, injured employees should seek the services of a personal injury lawyer.