If you have employees in NSW, you probably need a workers compensation insurance policy. Workers insurance is compulsory for all NSW employers unless you are considered an ‘exempt employer’.

In accordance with the Workers Compensation Act 1987, you are required to obtain and maintain workers compensation insurance with a workers compensation insurer in respect of your worker or deemed worker and any other workers or deemed workers you employ.

There are useful tools and resources available to help you understand workers compensation and your obligations:

You can find out more information about your obligations as an employer at the State Insurance Regulatory Authority website.
icare, as the Nominal Insurer under the Workers Compensation Act 1987, has a small business hub to help employers.
If you are unsure whether you need it for your business, you can visit https://portal.icare.nsw.gov.au/policy/quote/eligibility-test for an eligibility test.

Do I have to get my insurance with icare?

As the Nominal Insurer, icare offers policies for all industries except coal. icare contracts claims service providers to manage claims on its behalf.

There are also other specialised insurers that offer workers compensation insurance in certain industries or sectors. These providers are listed below.

Please visit https://www.sira.nsw.gov.au/insurance-coverage/workers-compensation-insurance/how-to-get-workers-compensation-insurance to find out how to get workers compensation insurance including contact details for specialised insurers.

Guild	Licensed to provide workers compensation insurance to pharmacies and employers providing childcare services.
Hospitality Industry Insurance Ltd	Licensed to provide workers compensation insurance to the accommodation and hospitality industries including pubs, bars, taverns, clubs, restaurants, cafes, and takeaway businesses.
Coal Mines Insurance Pty Ltd	Licensed to provide workers compensation insurance to employers in the coal industry.
Racing NSW	Licensed to provide workers compensation insurance to employers whose main business or industrial activity concern activities undertaken by registered race clubs and licensed trainers in the NSW thoroughbred racing and training industry.
Trinity Insurance	Licensed to provide workers compensation insurance to employers whose main business or industrial activity applies to the Roman Catholic Church and its religious institutions.

What does it cover?

A workers insurance policy provides an employer with coverage in the event one of their employees suffer a work-related injury or illness. All policies cover a 12-month period unless you request a shorter term. Workers compensation insurance may cover:

Weekly benefits
Rehabilitation services
Medical and hospital expenses
Some personal items damaged in a work-related accident.
A lump sum payment for death or permanent impairment.

How much does it cost?

Your workers insurance premium is calculated using a premium formula which considers factors specific to your workplace. You can find out more about how icare calculates premiums at https://www.icare.nsw.gov.au/employers/premiums/calculating-the-cost-of-your-premium/premium-calculation-small-employer.

Can I lower my workers compensation insurance premium?

There are a range of ways businesses can lower the cost of their insurance premiums. For more information on the current incentives, discounts and adjustments available from icare, please see https://www.icare.nsw.gov.au/employers/premiums/ways-to-lower-your-premiums#gref.

What do I do if there is a work-related injury or illness?

Once aware of a work-related injury or illness, there are several steps you will need to take. If you are insured with icare, please visit icare's employer checklist for more information.