Workers' Compensation Solutions

Aon Hewitt’s Workers’ Compensation Solutions provides a comprehensive approach to workers’ compensation, focusing on continuous improvement to meet specific client needs. Key services offered include premium and claims reviews, consolidation of national programs, premium monitoring and premium allocation models, a range of outsourced options, and program design and review. Aon Hewitt’s exposure across all Australian jurisdictions ensures we can exceed client expectations in minimising this key business expense.

We draw upon the broad resources of Aon Hewitt to assemble cross functional teams in absence management, safety, security, employee benefits, workers' compensation, risk management and actuarial science to satisfy our clients' people risk requirements and exposures.

Although workers’ compensation is a compulsory insurance, there are many proactive measures businesses can employ to reduce their premium. Experience indicates that workers’ compensation insurance premiums comprise between 40% and 60% of an organisation’s total insurance spend.

OHS

Aon Hewitt recognises the strong linkage between poor OHS practices and escalating workers’ compensation costs. Accordingly, we employ a number of OHS specialists with recognised qualifications and significant experience across a range of industries. OHS solutions range from statistical analysis to identify claim drivers to management system audits, OHS strategy development to planning workshops. We are able to demonstrate the financial impacts of OHS solutions, thereby establishing a robust business case for investment.

Self Insurance

In Australia, employers who can meet specific eligibility requirements are able to opt out of the statutory workers’ compensation system and self insure. Employers seeking to self insure can, if eligible, elect to enter into either the State and Territory or Federal (Comcare) systems. Aon Hewitt is the market leader in this area with extensive experience and a proven track record in assisting clients to successfully self insure in State, Territory and Federal jurisdictions. Key features of our approach include preparing business cases, conducting feasibility studies, preparing licence applications, developing communication and transition strategies, conducting independent OHS audits against self insurer standards, placing clients' reinsurance (excess of loss) cover and other prudential obligations. Our philosophy is to provide a phased approach and ensure all stakeholders are fully informed at each stage of the process.

Placement

Aon Hewitt’s team is spread across Australia and this national exposure enables us to effectively place and manage clients’ workers’ compensation policies wherever legislation permits. Our placement services centre on meeting the specific needs of each client through both premium and insurer management. This approach takes into account vital factors such as negotiating, monitoring and reviewing service level agreements with insurers and providing expertise and advice on the broad range of workers' compensation issues. We also provide assistance on the implications of mergers and acquisitions on workers' compensation obligations. Our experience in policy placement ensures that clients achieve legislative compliance whilst also meeting their business needs.