Workers Compensation Insurance for Small Business Owners

Phoenix Insurance Brokers specialise in workers compensation insurance for small business owners and also the self-employed.   We offer workers compensation quotes and policies specific to Western Australia to suit your small business or self-employed needs. Through a solid reputation of excellent customer care and delivering reliable policies, Phoenix Insurance Brokers have become known as a leading Workers Compensation Insurance broker not only in Perth but throughout WA.

What is Workers Compensation Insurance?

Workers Compensation Insurance is a compulsory insurance in each state and territory of Australia and every employer must hold a workers compensation policy with a licensed insurer or with Workcover, the government agency responsible for overseeing the workers compensation and injury management system in Western Australia.

Why do I need Workers Compensation Insurance?

Even the most unassuming and apparently safe workplaces can be fraught with unforeseen dangers, which is why it’s compulsory that all businesses in Western Australia have adequate insurance to protect them against workplace accidents.  It’s not just industries that utilise heavy machinery that are at high risk of injuring a member of staff.  A slippery floor or a mis-placed object can be just as dangerous as dangerous industrial equipment.  All businesses from trades to medical practices require workers compensation insurance by law in WA. 

Workplace injuries can cause a lot of issues for business owners both financially and in loss of reputation so it’s important to have quality insurance you can trust in place should you require it. 

What does it cover?

A Workers Compensation insurance policy provides monetary and other reimbursement to workers injured at work or suffering an illness arising from work.  The policy might provide the injured worker with benefits, medical expenses, hospital cover or indeed a lump sum, depending on the severity of the accident or illness.

It will also protect the business owner by covering the wages paid to another member of staff who has been recruited in order to cover the injured or sick party. 

Without this cover a small business may be liable for a hefty sum to cover wages, medical bills and legal fees.

How are premiums calculated?

Premiums for workers compensation are generally calculate using a predetermined formula which set by each state.  Largely, it will be based on the salary you pay your employees, your claims history and the industry in which your small business operates.

Why Choose Phoenix Insurance Brokers for Workers Compensation Insurance?

Phoenix Insurance Brokers will provide ongoing maintenance and support of your Workers Compensation Insurance. Our aim is to provide an effective, continuous level of service in the following areas:

  • Review of policy, rate and classifications
  • Support with documentation including wages declarations and claim forms
  • Claims cost monitoring
  • Arrange meetings with insurers
  • Advice in implementing Risk Management Procedures
  • Advice on claims and support on managing difficult claims
  • General advice and support

Contact Phoenix Insurance Brokers today to discuss arranging Workers’ Compensation for your business.

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