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Changes to NSW Workers Compensation Scheme

New South Wales Workers Compensation News

Workcover have commercial contracts with the seven companies known as Agents that act on its behalf to deliver claims and policy services within the Workcover Scheme.

The current contracts expire 31/12/2014. All seven Agents tendered for renewal of their contracts over the past few months.

It was officially announced on Monday 17/11/14 that Gallagher Bassett and Xchanging were not successful with their tenders.

The Workers Compensation Nominal Insurer has selected five scheme agents (insurers) to provide policy and claims management services in the NSW workers compensation scheme under the 2015 Scheme Agent Deed.

The following organisations have been appointed:

  • Allianz Australia Workers’ Compensation (NSW)
  • CGU Workers Compensation (NSW) Limited
  • Employers Mutual NSW Limited
  • GIO General Limited
  • QBE Workers compensation (NSW) Ltd

What Next?

For the majority of employers and injured workers there will be no change to their workers compensation insurer. Some employer policies and injured worker claims will be transferred to another insurer.

During 2015, all claims and policies managed by Gallagher Bassett Services (GBS) and Xchanging will be transferred as directed by the Nominal Insurer.

It is anticipated that the transfer process will be completed by 31st December 2015.

At this stage we understand that policies currently with Gallagher Bassett will be transferred to Allianz and policies with Xchanging will be transferred to Employers Mutual. There will also be some redistribution of policies from QBE to GIO .It is expected that policies will only be transferred at next renewal for policies with a due date beyond 1/1/2015.

 We will provide you with further updates as they come to hand in the meantime for further information the link to the Workcover website is included for your convenience.

 NSW Workcover release.

 If you have any questions please contact your Account Manager by calling at BusInsure on 1800 BUSINSURE (1800 287 467) or click below to request a call back.

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