As a business owner in Perth, you know that WorkCover law requires you to have workers compensation insurance. But do you know why?
Understanding why the law requires businesses to have this type of insurance helps you see the benefits.
What Are the Benefits of Workers Compensation Insurance?
Workers compensation doesn’t just protect your employees—it protects your business too. If an employee were to get injured at work, as his or her employer, you’d be responsible for compensating the medical costs, lost wages from time off work, common law damages, penalties and other fees.
Fortunately, you can avoid these financial consequences by paying a small fraction of the cost in workers compensation insurance premiums.
How Common Are Workplace Injuries?
You might think that workplace injuries are only likely in dangerous jobs or jobs that require a lot of manual labour. However, the truth is that jobs of all kinds can lead to injuries. For example, repetitive motions such as typing can lead to carpal tunnel. And working at a restaurant can expose employees to the risk of burns and slip and falls.
Whatever kind of business you run in Perth, make sure your employees follow all safety protocols and further protect your business by purchasing a workers compensation policy.
Have a Question? We Have Answers
At Westralian Insurance, we help business owners stay compliant with WorkCover laws and protect the financial future of their businesses. If you have questions about insurance for sub-contractors or family members who work for you, contact one of our knowledgeable insurance brokers. We can help you thoroughly understand the legal requirements in your business’s unique situation.
If you’d like to send us a message or request a free quote, fill out the form on the right of this page. Or email us on firstname.lastname@example.org. We look forward to hearing from you.