WorkSafe Victoria
is your Nominal Insurer
WorkCover Insurance is the name of the Workers Compensation Insurance scheme in Victoria, which is provided by WorkSafe Victoria. WorkSafe has delegated the management of the scheme to Agents, such as DXC. All businesses that have deemed workers in VIC and pay over $7,500 per year in actual wages must comply with this compulsory requirement.
Quick Policy Set Up Tips
WorkCover Insurance Victoria
Policy Set Up Tip # 1
Get your WIC Code Correct
A WIC code is a key part of your Workers Compensation Insurance program. WorkCover offers over 500 WIC codes to match your business activity. Your premium depends on the right WIC code and business activity for your business. You need to have the right WIC code to avoid overpaying on your Premiums. A specialist like Employers Comp can help you pay the correct WIC code for your business.
Policy Set Up Tip #2
Number of Deemed Workers
A deemed worker is someone who qualifies as a worker for workers compensation matters. In Victoria Workers Compensation, this category covers Working Directors, employees, apprentices, trainees, and some independent contractors. You should keep in mind that the figures you give for the number and wages of deemed workers when you ask for a quick quote are only approximations.
Phoenix Hotel
"I really appreciate the support from Employers Comp, which is really helpful and valuable for a business like ours."
What We Do
Employers Comp has assisted thousands of businesses in managing their Workers Compensation Insurance compliance. We assist our clients by providing the following four core services.
Cover Set Up
Actual Wages
Advice
Renewals
Policy Set Up Tip #3
Plan and Budget
Employers Comp can help you with your premium payments. You can pay monthly (if possible) to manage your cashflow better, but if you skip a payment, you must pay the full premium or face debt collection from your agent. If you need help with your workers Compensation budgeting, contact us, we have helped many businesses with their Workers Compensation cover.
Policy Set Up Tip #4
Use a Professional
WorkCover Insurance can be tricky to understand, as it has its own subtleties. It's not like regular insurance, as it's a government scheme, there are extra reporting obligations. If you run a small business, you'll have to report your operations every year to your Agent. Getting professional help can make the process easier, saving you time and giving you confidence. Need help? you can contact us at Employers Comp.
Policy Set Up Tip #5
What is an Annual Wage Declaration?
One of your obligations as an employer and policy holder is to report how much Rateable Renumeration you have paid to your workers each year, through an Actual Wage Declaration. This is a formal government submission. This step is important because it helps WorkCover adjust a premium that's both fair and accurate for your business, making sure you are paying the appropriate amount of premium based on your actual wages. It's a record keeping requirement that all Policy Holders have to provide. Employers Comp takes this hassle away so you can focus on your business.
GJN Industries
"The team at Employers Comp have fantastic customer service, nothing is ever too hard."
How we Help
Employers Comp has assisted thousands of businesses in managing their Workers Compensation Insurance compliance. We assist our clients by providing the following nine core services.
Cover Set Up
We review your specific needs to provide you with tailored, compliant Workers Compensation protection.
Premium Payments
We help you manage your WIC Codes and payments to ensure you can afford your cover and avoid penalties and fines.
Actual Wage Declarations
We link with your Payroll and Accounting Software to ensure you declare your Actual Wages correctly and compliantly on time.
Contractors Compliance
Not all contractors are your deemed workers. But some are and they need to be included in your policy. We take the headache away.
Renewals
Unlimited support to manage your Renewal. This includes our Representation Guarantee, supporting you through the renewal audit process.
Registrations
Registering a new company, policy or claim we provide you with ongoing advice to save you time and provide you with peace of mind.
Documents
Have access to your documents 24/7. No matter where you are you have access to your policy documents on the go.
Wage Audits
Thousands of employers every year are audited by their Workers Compensation regulator. We represent you in the process.
Advice
Our team of experts provides you with the Unlimited Advice and guidance to help you navigate the complex world of Workers Compensation.
Compliance made easy for your business.
No matter your industry, we've got the perfect plan to suit your needs.
Adams Mowing
"Employers Comp saved me time and money, it is a must for any business."
WorkCover Insurance Victoria Compensation Definitions
What is a WIC Code?
Workers Classification Code (WIC)
A WIC code is a crucial part of your WorkCover Insurance program. Each scheme has its own set of unique WIC Codes. Your premium is based on the WIC code allocated to your business. If your business changes its primary activity, then your WIC code may change. It is important to ensure your business has the correct WIC code allocated to it to avoid overpaying or underpaying on your WorkCover Premiums. Using a Workers Comp specialist like Employers Comp will assist you in ensuring you are paying the correct WIC code related to your business.
What is a Deemed Worker?
It’s Complicated!
A Deemed Worker is an individual who is “deemed to be a worker” for Workers Compensation purposes. This will include Full-Time, Part-Time and Casuals employees in your business. This will include Working Directors in your business, and in some situation's Independent Contractors. When renewing your WorkCover Insurance Policy it is the obligation of the employer to include all relevant Deemed Worker remuneration a business has paid when declaring its Actual Wages. Using a specialist like Employers Comp will assist you in ensuring you declaring your Wages accurately and on time to ensure you comply with your WorkSafe WorkCover Insurance obligations.
What is PIAWE?
Pre-Injury Average Weekly Earnings
If an injured worker is unable to perform their pre-injury job, or suitable alternative duties, as a result of a work-related injury or illness, any weekly compensation that may be payable is calculated by reference to the workers Pre-Injury Average Weekly Earnings (PIAWE). When a claim is registered with your WorkSafe Agent, your Agent is required to obtain the last 12 months of an injured Workers Payslips to Determine the injured workers PIAWE.
What is an Actual Wage Declaration?
A Government Submission
As an employer and policy holder you are required to declare how much Rateable Renumeration you have paid to your workers annually, through an Actual Wage Declaration. This is a formal government submission. This step is crucial because it helps WorkCover calculate a premium that's both fair and accurate for your business, making sure you are paying the right amount of premium based on your actual wages. It's a record keeping requirement that all Policy Holders are responsible of providing. Employers Comp takes this headache away so you can focus on your business.
Handz Constructions
"I am very happy with the team at Employers Comp, they are extremely prompt and supportive"
