Manage a Policy

Who needs a policy

Any employer who pays Annual wages of more than $7,500 must take out a NSW Workers Compensation policy. If a person or business employs or hires workers on a regular, casual or contract basis, they are considered to be an employer and must have a workers' compensation insurance policy. A contract may be expressed or implied, verbal or written, and it may be a contract of service or apprenticeship.

What does Allianz do?

In NSW, agents issue and administer Workers' Compensation insurance policies on behalf of WorkCover. They also manage the collection of premiums, administer claims processes and inform employers of their responsibilities.

For more information contact us on 1300 130 664 (Monday to Friday: 8:30am to 5pm)

Policy renewals

Here are some frequently asked questions and answers about policy renewals.

What happens at the expiry date?
Prior to the policy expiry date Allianz will send you the following documents:

• A wages declaration form, requesting the expiring policy year's actual wages and estimated wages for the next 12 months.
• Policies that have exceeded $1,000 in basic tariff premium will also be sent an installment deposit notice.
• Policies that are less than $1,000 in basic tariff premium will not be asked to pay premium until we send you a Tax Invoice after processing your Renewal Form.

What happens when the estimated wage declaration is not received?
If estimated wages are not received within 2 months of the date your policy expires, agents automatically renew the policy using the previous year's estimated wages plus 30%.

How can the premium be paid and when?
All employers will be invoiced for premiums as they become due and payable. These invoices will identify the amount payable by transaction record, policy term, due date, GST amount and total amount due. Payment options include cheque, EFT, B-Pay and Direct Debit. For more details on payment options, please refer to ‎your Tax Invoice.

Annual Payments, if paid on time, will receive a 3% premium discount (conditions apply).

Late payment penalties apply if premiums are not paid by a due date.

How are premiums calculated?
Employer premiums are calculated through a formula set by NSW WorkCover. There are three main components used to calculate an employer's premium:

a) Annual wages paid to employees
b) An industry rate, based on an employer's industry/business activity
c) Claims and wages costs over 3 years

How do I get a Certificate of Currency?

Legislation requires a request for a Certificate of Currency to be in writing. You can request this by completing and signing our Writable Request For Certificate of Currency and Statement of Wages and returning to Allianz according to the delivery directions listed on the form or upon Renewal completing your Declaration of estimated wages form ensuring you tick YES in section 5. A Certificate of Currency will be sent to you within 5 working days of receiving the written request.

Please note Allianz can issue a Certificate of Currency for a period of up to 12 months, or to the expiry date of the policy. Outstanding premiums will hinder your ability to receive a Certificate of Currency.

For more information contact us on 1300 130 664 (Monday to Friday: 8:30am to 5pm)

Cross border issues

For more information about issues regarding employees who travel and work interstate, please visit WorkCover NSW's Cross Border information pages.

Apprentice Discounts

As an employer of an Apprentice, you may be entitled to a premium discount. Should your Apprentice be working under an Approved Training Contract with the Dept of Education and Training, declare their wages on your Renewal form in the appropriate section. These ‎wages will be used for experience rating your policy, however will be excluded from your total premium calculation.

Grouping

All companies that have combined wages of $600,000 or more and are grouped for payroll tax, must register with WorkCover as a Group. Every policy in the group must be held with the one Insurer, so that the premium for each policy will be experience rated against the other correctly. Please refer to the Grouping Registration form on our website.

Further Information

Should you require further clarification regarding any of the above topics or other Workers' Compensation inquiries, please call 1300 130 664. You can also obtain assistance at www.workcover.nsw.gov.au