WORKERS COMPENSATION - Are you covered?
- WA Sponsor Articles
- 1 day ago
- 1 min read
Workers’ compensation insurance protects employers and injured workers from financial costs if a worker suffers a work-related injury or disease. These costs could include a one-off lump sum payment, income replacement, medical and rehabilitation expenses, or support when returning to work.
What you need to know
Workers' Compensation insurance is mandatory for businesses that engage workers. This includes strata companies.
Under the legislation, the definition of a Worker is very broad. An employee can work full time, parttime, casually or seasonally, or even be paid per job, like a tradesperson. The insurance provides employers with financial protection if a worker (or someone acting under their instructions) is injured at work and they’re liable.
The Workers Compensation and Injury Management Act 2023 regulates this type of insurance. WorkCover WA is the Government body responsible for overseeing the scheme, including setting premium rates.
Read more about the in's and out's of Workers' Compensation insurance below.
This article was bought to you by SCA (WA) sponsor Body Corporate Brokers (BCB)
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