03/06/2022 - 11:00

Reduce workers’ compensation premiums

03/06/2022 - 11:00

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Reduce workers’ compensation premiums

Despite the best intentions of every employer to ensure employees are safe, healthy and fit for work, workers’ compensation claims do occur and the cost of insurance premiums can be a major expense to companies.

Perth-based risk and safety consultants, RiskAdvisor General Manager Ffion Owen, says many businesses are not aware that the cost of their workers’ compensation premiums can be significantly impacted by the way their claims are managed right from the time of the initial incident.

GIO’s Executive Manager Workers Compensation, Llewellyn Jones,  said ‘best practice’ injury management could have a massive impact on workers’ compensation premiums and how insurers viewed the ‘riskiness” of a client they were insuring.

RiskAdvisor provides practical, cost efficient and innovative risk, safety and injury management solutions and support services to a variety of businesses operating across several industry sectors, acting as an employers’ advocate to improve outcomes for all stakeholders and reduce workers’ compensation claim costs.

Ms Owen says RiskAdvisor works alongside employers as their ‘in-house’ injury management team to remove the pressure of managing a workplace injury, supporting clients with hands-on injury management and advice.

It helps manage all parties involved;  the injured worker, employer, broker and insurer - until the claim is closed. RiskAdvisor experts attend case conferences, informal settlement meetings and Workcover conciliation and arbitrations, in addition to arranging and attending claim reviews with the insurer and employer.

“From the time an employee suffers an injury, RiskAdvisor can liaise with both the injured person and their employer, providing early intervention management with preferred providers so there are no delays in allied health or specialist reviews,” Ms Owen says.

“Our team of highly trained professionals can attend medical or specialist reviews with an injured worker, facilitate the return-to-work process, including completing return to work plans on behalf of an employer.

“We also help lodge workers’ compensation claims and are experienced in raising applicable concerns with an insurer, as well as providing advice to employers on compliance requirements under the Workers Compensation legislation.”

“We work closely with insurance brokers to monitor and reduce claim costs to assist brokers’ negotiate better premiums for their clients.

“Ultimately, RiskAdvisor is a one-stop shop that helps employees return to work as quickly as possible and employers to manage all aspects of their workers’ compensation claims.

 

If you are interested about improving your worker’s compensation claim costs, please visit www.riskadvisor www.riskadvisor.com.au or contact Ffion Owen on (08) 6371 5220 or via email at injurymanagement@riskadvisor.com.au

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