A surprise to many in the industry icare (Insurance and Care NSW - formerly Workcover NSW) has announced a substantial shift in the way it operates with its Agent Partners.
Currently to effect Workers Compensation employers must choose one of the scheme Agents who calculate and collect premiums, explain the scheme and issue certificates (The underwriting process). The chosen agent also deals with claims.
From early 2017 icare will directly handle the underwriting process for all new business and renewals. The plan is for an online self-service portal. A Customer Support Centre opening on the 1st September 2016 will be supported by Service NSW.
Claims service will be unchanged and your chosen scheme agent will continue to handle claims.
This is an ambitious undertaking by icare, as there are a huge number of transactions and explanations required by employers to comply with and understand what is a complex scheme.
Even though austbrokers central coast rarely charge or receive income for the service we provide in relation to workers compensation, we will continue to provide help, advice and support to our customers.
From the 1st July 2017 funding for the Emergency Services in NSW (ESL) will be collected via a levy on council rates notices.
Formerly known as the Fire Service Levy (FSL) it forms part of most insurance premiums. The insurance industry has lobbied long and hard for the removal of this levy as it is seen as unjust and inefficient.
The phasing out of the ESL on insurance policies will see a dramatic drop in what you pay for many policies as the ESL impacted on both the Stamp Duty and the GST. (Tax on Tax on Tax).
For more details see ESL Monitor website here
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