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 it is a compulsory requirement to 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?
Allianz acts as an agent for the government body, WorkCover. In NSW, agents such as Allianz, 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 obligations and responsibilities.
For more information contact us on 1300 130 664 (Monday to Friday: 8:30am to 5:00pm)
Policy lifecyclesLife Cycle of a Small Policy
Small employers are defined as businesses who have a base tariff premium that is equal to or less than $30,000.
- This definition is effective from 30th June 2013
- Premium notices are sent six (6) weeks prior to renewal
- Current policies will automatically renew on the policy expiry date
- All policy expiry dates will be moved to a month-end. Premiums will not be based on claims experience. Premium incentives are available for small employers that include a 10% Employer Safety Incentive (ESI) at renewal.
- The above 10% ESI discount will apply automatically for small employers when they take out a new policy.
- In the event of a claim, depending on when the injured worker goes back to pre-injury duties, the ESI will be maintained or removed and potentially a Return to Work Incentive (RTWI) applied.
NB Small employers who are part of a group where the base tariff premium is greater than $30,000 will not be eligible for any of the above.
For further information about the changes to policies for small employers click here to view the WorkCover brochure
Life Cycle of a Medium/Large Policy
Medium to large employers are defined as businesses that have a base tariff premium greater than $30,000
- Policy renewal packs are sent prior to the renewal date. Renewal forms should be returned within two (2) months of the policy expiry date
- Renewal forms will be processed upon receipt. Claims experience will be used to determine premiums
General FAQs for all policiesHow can the premium be paid and when?
All employers will be invoiced for premiums approximately 6 weeks prior to the due date. These invoices will identify the amount payable by transaction record, policy term, due date, GST amount and total amount due. Payment options include B-Pay, cheque, EFT, credit card and Direct Debit. For more details on payment options, please refer to ?your Tax Invoice.
If payments are not received by the due date, installment facilities are forfeited and the full year premium becomes payable immediately. Late payment fees accrue as at month end and are compounded monthly. There is no GST on late payment fees and a tax invoice is not available. Monthly statements are sent out on the 11th day of the month.
Annual Payments, if paid on time, may be eligible to receive a 5% discount for small employers and a 3% discount for medium or large employers. Late payment penalties apply if premiums are not paid by their due date.
How do I get a Certificate of Currency?
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. Legislation requires a request for a Certificate of Currency to be in writing.
Requests can be made by completing and signing the Writable Request for Certificate of Currency and Statement of Wages form with the following information:
- Legal name of policy holder
- A reasonable estimate of wages
- Employee numbers
Alternatively a request can be made at renewal by completing a Declaration of estimated wages form
ensuring that YES is ticked in section 5. A Certificate of Currency will be sent to you within five (5) working days of receiving the written request.
A certificate of currency may not be issued if there is any outstanding premium, or overdue actual wages declaration forms for the previous 12 months.
For more information contact us on 1300 130 664
(Monday to Friday: 8:30am to 5.00pm)
Cross border issues
For more information about issues regarding employees who travel and work interstate, please visit WorkCover NSW's Cross Border information pages
Organisations that employ apprentices may be entitled to a premium discount. If an apprentice is working under an ‘Approved Training Contract’ with the Dept of Education and Training, then wages must be declared on the Renewal form in the appropriate section. These wages will be used for experience rating the policy. However, this will be excluded from the total premium calculation.
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.
As your Scheme Agent, Allianz has consent from WorkCover to cancel policies in the following three cases:
- Ceased trading
A policy can be cancelled if the employer has ceased trading. Evidence of having ceased trading must be provided to the Scheme Agent that holds the policy.
- Liquidator/trustee in bankruptcy appointed
A policy can be cancelled if a liquidator/trustee in bankruptcy has been appointed and the employer has ceased trading. The policy cannot be cancelled when a liquidator or administrator is appointed and the employer continues trading even if the liquidator or administrator attempts to take out a new policy.
- Business is sold by employer
A policy can be cancelled when an employer sells a business. The new owner must take out a new workers compensation insurance policy covering their employees.
Employers in any of the above situations can complete a NSW Workers’ Compensation Policy Cancellation Request Form (under policy documents). Please ensure that you provide a reason, include all dates and sign where applicable.
WorkCover does not give consent to Scheme Agents to cancel a policy if the employer:
- Can take out a new policy at a lower premium following the issue of an Insurance Premiums Order
- No longer have employees or wages < $7,500. In this case the policy cannot be cancelled midterm and will remain effective to the policy expiry date.
For any enquiries relating to changing of legal entities please contact us as soon as possible on 1300 130 664
(Monday to Friday: 8:30am to 5.00pm).
NB Please be mindful that all cancel requests are reviewed and decisions to approve or decline are based on information provided to Allianz. In a situation where a policy is cancelled there may be the possibility that there will be premium owing. For more information please contact us on 1300 130 664
(Monday to Friday: 8:30am to 5.00pm).
Should you require further clarification regarding any of the above topics or other Workers' Compensation inquiries, please view the NSW Employer Guide or call 1300 130 664. You can also obtain assistance at www.workcover.nsw.gov.au
For Workers Compensation information at your fingertips please visit Employer Assist.