Policy Management Service

Are You With Your WorkCover Policy?

myWorkCover specialises in Workers’ Compensation policy management and we can certainly take away your stress. We ensure you meet your legislative and employer obligations, as well as effectively manage your policy, pay the lowest premium possible and avoid legislative penalties. We assist you in understanding the process in each jurisdiction, legislative provision and recommendations so that you are compliant.

After we are appointed, we will conduct a health check on the policy, provide you with a customized report and discuss every requirement you need for sustainable management. If we identify potential refunds, we will challenge the insurer for refunds.

As part of our Policy Management service, we ensure your policy:

• Is renewed before the expiry date by updating your estimate of rateable remuneration for the year.

• Wage declaration preparation for the renewal period and complete your annual remuneration certification for a prior year for compliance with WorkSafe.

• Ensure you have an updated Certificate of Currency at renewal to prove you have up to date WorkCover Insurance.

• We instruct your insurer on how to renew your policy based on your terms so that you can maximise your payment option for premium discounts.

• We conduct the renewal term each year to ensure you are not paying any additional premium.

• Manage your workplace information e.g., add/remove workplaces, update contact information.

• We provide you with premium reconciliation upon request.

• We send you Premium invoices (either annual, quarterly or monthly payments) for payment to avoid late payment fees.

• Premium forecasting upon request.

• Ensure you comply with the relevant authority and legislation to minimise your risk of incurring liabilities and fines.

• Wage declaration preparation for the renewal period and lodge prior year actual wages for compliance with WorkSafe.

• We review all your wages to ensure it is declared correctly to avoid paying excessive premiums.

• We do mid-term wage adjustments if your wages fluctuate during the year to avoid the Underestimation Penalty.

• Assist you in lodging any claims or incidents which occur within the policy period. (Note: Claims Management is a separate service)

• Review your WorkCover Industry Classification (WIC), and Premium Rate for accuracy each year and look at ways to reduce your premium.

• Assist you with new policy placement (New Policy Placement is a separate service).

• We can re-structure your Workers’ Compensation policy if there is a change in your business structure, a change in your business activity, a change of shareholders, directors, Trust and business acquisition. (Additional fee may be charged depending on whether a new policy is required)

What we need from you

We need you to download and complete the LOA – Letter of Appointment. Once we receive the LOA we will immediately conduct a health check on your policy and provide you with a tailored report.

For NSW, please download the icare NSW LOA and for all other States & Territories, please download the All States LOA.

Letter of Appointment

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