Workers Compensation or Employers Indemnity insurance covers your workers when they are working for your business, and/or while acting under your instructions.
Workers Compensation insurance protects employers from financial costs when a worker sustains a work-related injury or disease and must be provided for anyone you employ who is defined as a ‘worker’, including cover for claims at common law. It also protects injured workers by providing weekly payments to cover loss of earning capacity, payment of reasonable medical and rehabilitation expenses, and other entitlements.
The definition of worker varies depending on the state/territory that they are employed and your premium is calculated on the wages paid to workers.
Wages can include
- allowances and the like
- directors’ fees
- superannuation contributions exceeding those made by force of law (above 9.50%)
- fringe benefits
- all other benefits paid (whether paid in cash or non-cash benefits such as vehicles, equipment, mortgage payments, travel, school fees etc.) to or in relation to a worker or to contractors, before deduction of income tax.
Industrial Diseases (defined as pneumoconiosis, mesothelioma, lung cancer and diffuse pleural fibrosis) are not automatically covered under Workers Compensation insurance policies. However, if this is required it can be requested and is mandatory if you have any working contract with mining companies.
For more information on Workers Compensation in your state/territory visit
If you would like to know more about Workers Compensation Cover, please call 1300 763 766 or Get a Quote.