Does your business hold a Workers Compensation policy?
Do You Need Workers Compensation Insurance in NSW?
If you employ staff in NSW, you likely need a Workers Compensation policy. The policy will insure your business against the cost of supporting your injured worker and is mandatory unless you're an exempt employer.
What a Workers Compensation Policy Covers:
Weekly payments for injured workers
Medical and hospital costs
Rehab services
Damaged personal items (e.g. glasses, clothing)
Lump sums for death or permanent impairment
Who Must Be Insured?
Any person or business hiring workers—full-time, part-time, or casual. This includes:
Pty Ltd companies with working directors
Households hiring nannies
Farmers providing meals/accommodation as wages
Strata bodies and businesses must ensure contractors are insured to avoid liability.
Exempt Employers:
You may be exempt if:
You pay $7,500 or less in annual wages
You don’t employ apprentices or trainees
You’re not part of a premium group
Even if exempt, you must report injuries to iCare and assist with return-to-work.
Penalties for non-compliance: Up to $55,000 in fines and/or 6 months’ jail.
For further information visit: Who needs a policy | icare
