VECCI and Allianz’s unique and historic partnership aimed at lowering WorkCover costs and improving service for employers has now been operational for six months and is proving a great success.

“VECCI members representing over $3.4 million in premium have joined the VECCI/Allianz Business Cover Plus workers’ compensation program since it was launched in March”, says VECCI Chief Executive Officer Mr Neil Coulson.

“Features of the Business Cover Plus program include:

• the ability to pay annual premium by monthly instalments
• automatic qualification for a preferential funding rate
• full tax deductibility of any funding cost associated with paying by the month
• Improved customer service, including dedicated account management
• pro-active education and training on OH&S issues

“The Business Cover Plus Program is popular with business because, while they have benefited from the reduction in WorkCover premiums over the past three years, cost and service issues surrounding workers’ compensation have still been a major bugbear for business – WorkCover costs have been consistently rated among the top two issues of greatest concern to business in our surveys of members carried out in recent years, and administrative and compliance costs associated with WorkCover have also rated highly.

The Business Cover Plus program has also expanded to New South Wales, with Allianz signing a similar deal with peak NSW employers’ group ABL State Chamber.

Allianz was appointed as VECCI’s preferred workers’ compensation insurer through an exclusive three-year agreement. VECCI’s Chief Operating Officer Shaun Strachan has said that over the past week there have been over 100 calls on the hotline enquiry number and over 50 applications for premium funding. There is clearly an ongoing need for this product to assist members.

“Members with premiums of more than $1,000 and less than $100,000 per annum will automatically qualify to have their workers’ compensation premium funded through Allianz subsidiary company, Hunter Premium Funding, which will enable them to pay their premium in monthly instalments”, says Mr Coulson.

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VECCI Strategic Communications
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