WORKERS’ COMPENSATION Insurance

Compulsory insurance that provides financial support to employees due to work-related injuries or sickness

Workers’ compensation insurance

Workers’ compensation is a compulsory insurance requirement for all businesses that employ staff. Gym Insurance HQ can assist you with finding an insurance policy that priorities your employees’ wellbeing and give them the support they need to recover and return to work.

What is workers’ compensation insurance?

Workers’ compensation is a type of insurance that compensates your employees if they become sick or injured as a result of their work. Workers’ compensation payments usually cover employees’ wages while they’re unable to work or medical/rehabilitation fees. 

Workers’ compensation is state-regulated. You can review the state-specific requirements for your respective state by checking out the links below: 

Why choose Gym Insurance HQ?

 At Gym Insurance HQ, we understand how businesses in the gym and fitness industry work. We have access to the largest range of workers’ compensation insurance providers in Australia, allowing us to find the best policies at the most competitive prices. 

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    Key things to remember 

    Workers’ compensation insurance

    Workers compensation insurance is a minefield with every state having a separate system and legislation. A few of the key things to remember with worker’s compensation are:

    • If you employ any PAYG staff you MUST legally have worker’s compensation insurance.
    • Contract staff (ABN holders), generally still legally require you to cover them under worker’s compensation due to definition of worker under the various states worker’s compensation legislation. Please also note Superannuation also typically needs to be paid as guidelines are similar.
    • If you are a sole operator, but operate under a company structure, the company will also need to hold worker’s compensation, otherwise it will be in breach and as the director you will be in breach.

    Why you are best covered by income protection as a business owner

    Please also note that under this scenario, it is quite possible that worker’s compensation will not respond to a worker’s compensation claim, and you are best covered by income protection.

    • Premiums are generally regulated so there is generally little, to no variation between insurers premiums.
    • Many worker’s compensation insurers now also seek reimbursement from the employer under liability / management liability policies.

    Gym Insurance HQ can assist you in sorting through your worker’s compensation requirements, ensuring you are getting the right coverage to meet your needs at the right price.

    To see the benefits of dealing with a fitness industry workers compensation insurance broker, contact us on 1300 815 344 or request a quote online.

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