Wiseman Insurance

31/05/2024

NSW scheme changes have been announced for 2024/2025.

Main points are;

Average rate increase across the scheme is 8%
12% of rates didn’t change
44% increased above 8%
44% increase was below 8%
Wage estimates are automatically index by 4.9% this year
Payment of premium can only be done via BPay & the icare website from today, no longer over the phone or cheque.
New premium model (LPR Plus), which is a burner arrangement for the 110 employers with an APP above $3,000,000
Minimum premium is now $225
Broker Hub released where lots of information stored & updates released, etc - https://www.icare.nsw.gov.au/employers/industry-and-partners/broker-hub
Employers above $200k APP from 30th June can now change claim agents (CSP’s) from renewal

Reach out with any enquires you may have

icare works with brokers and employers to keep businesses in NSW updated on workers compensation developments, providing access to industry expertise and valuable resources.

31/01/2022

https://insurancenews.com.au/local/australia-execs-fear-cyber-risk-most-survey

Failure of cyber security measures and extreme weather events are the first and second biggest worry for Australian executives, according to the World Economic Forum (WEF) annual Global Risks Report.

24/08/2021

How increasing building costs could mean you’re now underinsured

Most people would be aware inflation has been on the rise in recent months due to COVID-19 impacts. However, many are not aware of how significant the impact has been on the construction sector and what that means for their property insurance. As a result, the gap between what most people are insuring their properties for and the true cost of rebuilding is currently unusually large.

Contact Troy to find out more….

22/03/2020

While we are self isolating, we are still working remotely. Our clients affected by closures are encouraged to call the mobile or email to make contact.
A common question we are receiving is, "are we covered for business interruption due government measures regarding the coronavirsu COVID-19" the short answer is no.
Where possible we are re-forecasting wages to reduce workers comp premiums & reducing covers that aren't necessary at this time. Fires, storms, burglaries etc will not stop just because we are in a shut down situation.
See link regarding the support by the government for assistance

If you're a sole trader or you employ people, learn what your business can get and where to go for help.

20/01/2019

https://www.mybusiness.com.au/human-resources/5361-jail-sentence-for-employer-over-workplace-death/amp

Employers are being warned of “significantly increasing” penalties for health and safety failures, after a 72-year-old woman was given a jail sentence over a fatal workplace accident.

29/04/2018

April 28 is World Day for Safety and Health at Work, a day for promoting safety and health in the workplace and to honour those who have died from work-related injury or illness. According to Safe Work Australia, (1) in 2015-16, there were 104,770 serious Australian workers’ compensation claims wi...

26/03/2018

WorkCover WA Acting Chief Executive Officer Mr Chris White today made a media statement announcing a 3.9 per cent increase in the 2018/19 recommended premium rates for compulsory workers’ compensation insurance in Western Australia.

The average recommended premium rate for 2018/19 will be 1.585 per cent of total wages (up from the previous year’s 1.525 per cent).

The recommended premium rates were published today in a Special Government Gazette and will come into effect from 4pm on 30 June 2018.

05/02/2018

I’m looking for a workers compensation and general insurance executive, contact Troy Wiseman directly for further details of this Illawarra based role...

26/12/2017

Some savings for small business...

The NSW State Government are making come changes to Stamp Duty on certain insurance products effective 1 January 2018.What is happening? From 1 January, small businesses(*) will no longer be required to pay Stamp Duty on some types of insurance, including:• Commercial Motor Vehicle– where the motor…

20/08/2017

Who needs Cyber insurance?

Digital technology has changed the way most companies do business but their insurance cover has not always kept pace. Cyber attacks and other issues are now some…

17/08/2017

More changes announced in NSW Workers Compensation space, if you were insured with CGU or QBE your claims will start transitioning to GIO & GIO will take the new claims from 1st October, 2017. Allianz will continue to take their new claims until 1st January, 2018.... stay tuned for more announcements as they occur. Or contact Troy to assist you through the changes !