Author: Teamwsib

Are you Cyber Secure?

 

Are you Cyber Secure?

When was the last time you thought about the cyber security within your business? Or when did you last review your in-house mitigation policies and procedures? Have you got a cyber disaster response plan in place? What would you do if your entire IT infrastructure was compromised?

With the changes to Mandatory Data Breach Notification legislation in early 2018, and with more legislation and law amendments anticipated – there is no better time than now to assess the cyber security and mitigation procedures within your business.

WSIB’s Top Tips on Cyber Security;

1.       Regularly Back up Data

Back up data frequently and store your backups off site and off your network to mitigate the risk of these being infiltrated should your system suffer a cyber-attack.

2.       Update your Software and Install Anti-Virus Protection

Updates are often designed to strengthen cyber security so ensure these are done in a timely matter. Additionally, Anti-Virus Protection should be in place to guard against the ever-evolving threat from viruses.

3.       Segregation & Verification Procedures

Segregation procedures should be in place to ensure at least two people are involved with fund transfers, deposits, issuance of cheques, stock control, adding new vendors, or adding new employees. It is further recommended that verification procedures are carried out to authenticate requests to change supplier or customer bank account details, or where large payment requests are received via email, regardless of who they seem to have been received from.

4.       Cyber Incident Response plan

Develop a Cyber Incident Response Plan to ensure you can effectively and efficiently deal with an incident. Your Cyber Incident Response Plan should take into consideration the wide range of cyber exposures, from identifying what is a notifiable data breach to an entire system extortion threat.

5.       Cyber Insurance

Speak to your Account Broker about how Cyber Insurance can provide further protection to your business.

Contact your Account Manager should you wish to talk about your Business and Cyber Security further.

Caution with Hire Vehicles

 

Caution with Hire Vehicles – A precedential decision has been set.

A recent appeal from the NSW Local Magistrates Court to the NSW Supreme Court modifies how claims are assessed for drivers who hire vehicles after a car accident where they may seek recovery.

The Supreme Court ruling, cited as Nguyen v Cassim [2019] NSWSC 1130 considered the assessment of damages (amount recoverable) where a motor vehicle, damaged in a collision for which the owner was not at fault, is unavailable for use while repairs are effected and substitute vehicle is hired.  In essence two key questions arose:

  1. Where the damaged vehicle is a high value or “prestige”, is the expense of obtaining a replacement car of similar value or prestige recoverable, where a cheaper alternative would overcome the inconvenience arising from the temporary unavailability of the damaged vehicle?
  2. The second question only arises once it is accepted that the expense of obtaining a replacement vehicle of similar value or prestige is recoverable: is the whole of the rental charges billed by the accident hire company recoverable?

His Honour, Basten J, found that the magistrate findings were in error and set them aside, in that, with respect to the hire of a prestige vehicle at $17,158.02 plus interest, this sum was excessive!  Among other things, his Honour found that the needs would have been satisfied by the hire of a Toyota Corolla.  In place of the magistrate’s findings His Honour, ordered the appeal to his Court, Allowed and that the vehicle hirer (Cassim) pay the at fault party (Nguyen) the sum of $7,476, together with interest.

Access to the His Honour, Basten J, full judgement may be found by clicking here.

The take away from this lesson is whenever you are involved in a car accident and may need a hire vehicle, please contact your Account Manager or click below for Warren Saunders Accident Assist which is available 24/07 on 9587 3500.

PIAWE Regulation changes are here!

 

PIAWE Regulation Changes are here!

As you may have heard, the Workers Compensation Legislation Amendment Act 2018 has recently been passed through the NSW Government; and within this Legislation Amendment the Workers Compensation Amendment (Pre-Injury Average Weekly Earnings) Regulation 2019 was also published.

The PIAWE Regulation will change the way an injured workers pre-injury average weekly earnings (PIAWE) is calculated, and will come into effect for workers injured on or after Monday 21 October 2019. Many of the changes are quite technical in nature and will likely have little to no effect on the calculation of PIAWE for most claims.

We see the most significant change being an amendment to the 52 week drop down which will cease to exist for workers injured on or after 21/10/19. The 52 week drop down currently requires the insurer to exclude any shift or overtime benefits from the PIAWE; which often resulted in a reduction to the PIAWE and thus the top up benefit payable to an injured worker. As an example, a worker whose normal earnings were averaged to be $800 per week, who also had an average of $200 of shift and overtime earnings; would have a PIAWE calculation of $1000 for the first 52 weeks of benefits. This would then be reduced to $800 after 52 weeks of benefits were paid as a result of the $200 shift and overtime benefit being removed. For those workers who are injured on or after 21/10/2019; the $200 shift and overtime component will no longer be removed after 52 weeks of paid benefits; and therefore the PIAWE will remain at $1000 per week (subject to bi-annual indexation). Warren Saunders Insurance Brokers see this as an increased premium risk given wages paid on a claim are typically the greatest impacting cost on a client’s premium.

RELEVANT PERIOD CHANGES

  • Any worker who was not continuously employed for a full 52 weeks will only have their PIAWE calculated on the most recent earnings period. Previously, if a worker worked for say 20 weeks, had 10 weeks off and then worked for a further 22 weeks when they were injured; the relevant period would consider the 42 weeks of paid employment. The Amendment means the relevant period will now only consider the recent 22 weeks where the worker was working before injury and not consider any period of paid employment prior to the break in employment. This would be quite relevant to those who employ workers on a seasonal basis for example.
  • Any worker whose nature of employment arrangement changes which results in a material change to earnings will have prior periods excluded. For example if a worker goes from part time to full time, any part time earnings are excluded from calculation.
  • Any periods where the worker takes unpaid leave for 7 days or more will now be excluded from the relevant period by excluding each day of unpaid leave within the relevant period.

PIAWE AGREEMENTS

  • A PIAWE application can be made by either the worker or the employer within 5 days of the notification of an injury to the insurer. This application needs to be reviewed for approval by the insurer within 7 days unless a Reasonable Excuse applies.
  • The insurer also has the power to make payments on the basis of an agreed amount of PIAWE until the application for approval is determined (i.e. an interim payment decision). The PIAWE agreement is NOT a work capacity decision and therefore any PIAWE Work Cap Decision will overrule any PIAWE agreement
  • A PIAWE Work Capacity Decision cannot be made before a PIAWE agreement has been made.

As stated above, we do not foresee these changes will have a significant impact on the majority of claims lodged through the NSW icare scheme. Some of the changes seek to make wage benefits and reimbursements more simple, for example through the alignment of the “workers compensation week” and the payroll week / fortnight / month. The challenging components of the Amendments; such as the exclusion of certain periods (for those who have a split in employment or nature of employment changes) will likely only affect the insurer when they are required to make the initial PIAWE agreement or Work Capacity Decision and are not likely to result in a significant increase or decrease in the PIAWE calculation. The most significant change in removing the 52 week drop down will mean there is less of a financial motivation for a worker to increase capacity or return to pre-injury hours at that juncture. It will be important to focus on other motivations of the worker and claim stakeholders at that point in time to influence claims outcomes, as required on a case-by-case basis.

New Mobile Camera Detection Laws in NSW

New mobile camera dectection laws in nsw

New technology will see speed camera style technology used to detect illegal mobile phone use, as part of a huge crackdown on NSW roads from July 1, 2018.

The Road Transport Legislation Amendment (Road Safety) Act 2018 No 15 will provide the power for offences to be remotely monitored, alongside existing NSW Police infringements.

Drivers who are caught using a mobile phone while driving will receive a fine of $330 and will lose 4 demerit points. If drivers are caught using a mobile phone when driving in a school zone, the fine increases to $439. All mobile phone offences are also subject to double demerits penalties.

Once the camera detects that a person has been found to be using a phone whilst driving, the footage will be reviewed manually prior to an infringement notice being issued.

The revenue raised from the camera detection technology will be paid into the Community RoadSafety Fund, which allows community organisations to develop road safety projects in their local areas. Such projects include:

  • Driver mentoring assistance for disadvantaged youth;
  • Awareness campaign targeting driveway safety;
  • Road safety workshops targeting culturally and linguistically diverse communities; and
  • Road safety seminar series and newly arrived migrants.

It has been reported that during an initial test on Sydney’s Harbour Bridge, the new system detected 750 drivers in six hours. This is contrasted with NSW Police having issued less than 100 infringements per week using the current methods.

In justifying the new technology NSW Minister for Roads, Maritime and Freight, Melinda Pavey, reported that from 2012 to 2017 there were 184 crashes involving illegal mobile phone use and those crashes resulted in seven deaths and 105 injuries.

The new mobile phone laws will come into place on NSW roads from July 1, 2018.

Safework NSW – Are you at Risk?

safework nsw - are you at risk?

Safework are out in force inspecting Return to Work Programs -are you sure your return to work Programs complies with the new SIRA Guidelines? It is important that every business is aware of their WHS obligations.

RETURN TO WORK PROGRAM – ARE YOU COMPLIANT?

You may not be meeting your workers compensation obligations.

Check if you are a category 1 or category 2 employer.

Ask yourself:

  • Is your ‘If you get injured at work’ poster displayed prominently in the workplace?
  • Do you have a compliant customised Return to Work Program?
  • Do your workers understand the Return to Program and what to do following an injury?
  • Do you have a competent Return to Work Coordinator?
  • Do you keep and maintain a register of injuries?
  • If your injured worker is back at work, do they have a Return to Work plan? And a rehab provider (if needed)?
  • If your worker is not back at work, do you have an action plan consistent with the Recover@Work

STILL UNSURE TO ONE OR MORE OF THE ABOVE?

You need to contact SS&T now to discuss if you are meeting your WHS obligations.

Have you had a worker injury in the last couple of years? If so, chances are Safework may be stopping by to see you!

GET IT DONE

Are you confident you are meeting the minimum WHS requirements as an employer?

Get it done now to avoid potential notices and even fines!

We can do a Return to Work audit on your procedures for as little as $999 (exc GST)

Mark Bouris reveals traits of struggling firms

Mark Bouris reveals common traits of struggling firms

With his TV series The Mentor now wrapped up, multimillionaire businessman Mark Bouris has shared some insights into the factors shared by all of the struggling businesses he sought to turn around.

Mr Bouris revealed that The Mentor received 3,500 applications from businesses across Australia, in just two weeks. The purpose of the show, he said, was to scale the questions that everyone in business should be asking themselves, particularly when times get tough. Those questions include some of the following:

Is help really available?

“I guess the first part of all this is about letting [business] people know that there are people out there who want to help … the deal is you’ve got to find someone who suits you,” Mr Bouris said.

Having said that, Mr Bouris suggested “there was no such thing” as a mentor when he started out in business. Instead, he said he proactively sought to work with people who both inspired and challenged him.

“These days [mentorship] is more of a concept and it’s more of an acceptable practice,” he said.

“When I started out, you never asked for help from anybody for anything — especially men. You don’t say you have a weakness.

“Today, the world has evolved. It’s not a weakness, it’s just asking for someone to share something they have learned. We live in a sharing world now.”

What am I doing wrong?

According to Mr Bouris, the common issues he saw among the businesses he worked with on the show and others he has seen more widely, particularly among family businesses, result from a failure to act as businesspeople and implement business-minded ways of working. These problems, he said, include:

  • A lack of structure
  • A lack of business systems and processes
  • Not holding regular planning and strategy meetings
  • Failing to keep proper records
  • Being underinsured

The risk of such problems is miscommunication, a susceptibility to risks and an inability to raise funds from investors or lenders.

“I think people go into business because they think it’s a lifestyle that they’re going to achieve, or they were a good mechanic or a good skilled tradesperson [for example] and they just think that they’ll be good in business doing that. But there’s a difference between being a good plumber and being in the business of plumbing… they’re two different things.

“So that’s the issue: they don’t know the difference. It’s subtle, but massive [in its implications].”

Where is the line between seeking help and calling it quits?

When business leaders hit rock bottom, the gruelling choice arises of whether to implement drastic change to turnaround the business and its fortunes — usually with the help of additional funding — or to call it quits.

For Mr Bouris, this is a decision that is best made not by the business owners themselves, but in conjunction with an external view of the situation.

“I think you do need someone — a coach, a mentor, an adviser, whatever you want to call it — but you do need someone to give you an external view,” he said.

“I really do think it’s nearly impossible for someone — unless they’re bankrupt, that’s different — but if they’re struggling, you need to have another set of eyes on it.

“Because when you’re in a struggle, you’re working in it, not working on it: you’re just putting out bushfires all day long, and you need someone to come in who has got no emotion about it, hasn’t got their arse on the line and can actually give you a high quality, independent, distant view.”

However, such advice is designed not to give the answers to the problems, but to flag the questions the business owner should be asking of themselves and their business, Mr Bouris said.

“You’ll come to the conclusion yourself,” he said.

What is the best piece of advice a business owner can receive?

Mr Bouris doesn’t waste time when it comes to offering the most crucial piece of advice he has ever come across in business.

“Know what your business purpose is,” he said emphatically.

“If you’re baking bread, you’re not [just] baking bread: you’re baking, nurturing and nourishment. If you’re selling coffee, you’re not selling coffee: you’re selling warmth and comfort and whatever else is associated with drinking a cup of coffee first thing in the morning. If you’re selling mobile phones, you’re not selling a little black box: you’re selling people’s social life and their ability to connect with communities, which is fundamentally important for us. If you’re selling a home loan, you’re providing to people the ability to fulfil their hopes and dreams.

“So know the purpose of the business you’re in: what is the purpose that people are coming to you for, not what you think you’re providing — that is irrelevant. What is the basic fundamental emotion that you are satisfying?”

What lessons has Mr Bouris himself learned the hard way?

Given the advice he imparted on other business leaders, and having noted that “making mistakes are part of the experience. But the mistakes I made are part of my fabric, so I’m not sure I’d change them.”

Those key mistakes, Mr Bouris said, are ones that are no doubt familiar to virtually everyone starting out in business.

“Spending before I earn, and giving up day jobs and cash flow to chase your dream,” he said.

“You’ve got to try and match your spending with your earning if you’re in a new venture.”

5 Misconceptions About Insurance Exposures

5 COMMON MISCONCEPTIONS ABOUT INSURANCE AND BUSINESS EXPOSURES

Workers Comp Insurance will cover me for a SafeWork investigation

Workers Comp insurance will cover you for injuries to your employees. It will cover medical expenses, loss of wages and (if unable to return to work) redeployment costs. If, however SafeWork investigate your business due to a workplace incident or accident, or a Safety Complaint made by an employee or third party, you may incur legal representation and defense costs and may even be prosecuted or fined. These expenses can be crippling to a business and are insurable under Management Liability insurance.

Long time employees can be trusted and rarely engage in fraud

In most circumstances internal fraud is committed with those given the freedom and authority to do so. I.e. Long-term employees whom are trusted. 60 percent of frauds committed against commercial businesses were perpetrated by ‘insiders’. They generally have tenure in excess of 5 years. Best practice fraud controls go a long way in reducing the likelihood of experiencing a loss, however cannot always prevent it. For this reason, crime or fidelity insurance exists to bridge the gap between what you can control and what you can’t.

Employment obligations start the day that I hire someone

Not necessarily. Equal employment opportunity obligations commence when someone applies to be hired by you. If a person believes they were discriminated against as part of the hiring process they may make a complaint to the Australian Human Rights Commission which could give rise to legal action against your business.

There needs to be a Safety incident for regulators to investigate or audit my business

SafeWork and SIRA can come into your business and review the adequacy of your insurance policies and your safety systems. Random SIRA audits or reviews can happen to anyone in the same way as a tax audit and can result in fines and penalties. Sometimes businesses mistakenly supply incorrect information because they misunderstand the factors used to calculate a workers compensation policy in relation to the make-up of their business. In other cases employers or their broker forget to update a policy when business changes occur. Whether it is intentional or an oversight, you can still be penalised.

SafeWork can also investigate your business in the absence of a notifiable incident. This will usually occur as a result of a safety complaint (raising a health and safety issue) or alternatively during a compliance campaign.

 

If I don’t know what I am allowed to do, I’m better doing nothing at all

Omissions are considered to be as serious as errors when it comes to the law. If you are not sure of any of your obligations, the best thing you can do is seek advice from your lawyer, accountant or insurance broker. Doing nothing, under most legislation, is tantamount to a breach.

Coal Mining Legislative Changes

Do you have workers on a Coal Mining Site?

New Legislation:

Section 31 of the Act requires employers in the coal industry to obtain workers compensation insurance from an approved workers compensation company for their employees in that industry. Currently, the approved workers compensation company under the Act is Coal Mines Insurance.

The Act now includes a definition of employer in the coal industry to make it clear that any employer whose employees work in or about a coal mine is required to be insured with an approved workers compensation company with respect to those employees and their employment in or about a coal mine.

Any employer of employees who work in or about a coal mine will be required by legislation to obtain workers compensation from Coal Mines Insurance commencing 1 July 2018.

 

What to do?

Please contact Warren Saunders Insurance Brokers to arrange cover with Coal Miners Insurance

 

What does it mean for your other Policy?

You will still have your policy managed by iCare for NSW, the portion of employees working or contracting on mining sites will now be required to take out another policy.

 

What will happen to my current Classification?

Unfortunately Coal Mines Insurance only have a selected few categories they are as follows; 

  • Open Cut Mine
  • Underground Mine
  • Operational Mining Services – Onsite
  • Operational Mining Services – Offsite
  • Administration – Onsite
  • Administration – Offsite

Coal Mines Insurance (CMI) don’t offer separate categories for Labour Hire, Consultants or Contractors.

Depending on the site you are visiting will determine the appropriate classifications above the task you are performing while onsite.

 

Questions to ask yourself

If the first question is a “Yes” then a Coal Miners Insurance policy is required;

  • Do you work on a Mining Site?
  • Which Mining Site/s you would attend?
  • Time spent on each Mining Site?
  • What activities would your employees perform while onsite?

Helpful links

CMI Premium Reform Brochure

CMI Proposal Form

Everything Cyber

Everything Cyber

Your business, relies upon technology just to exist. From paying suppliers, to marketing your goods and liaising with clients, your bottom line relies upon your ability to communicate electronically.

So what happens if you can not access your data, IT infrastructure or the internet? As technology becomes more sophisticated, so do the threats we face.

Click the link below to read our ‘Everything Cyber’ flyer.

Everything Cyber

Make your 2018 the best year Ever!

6 Business Ideas and Tips To Make 2018 Your Best Year Ever!

Look back at 2017, celebrate your successes and take the time to look at what business ideas that didn’t quite work and how you could have done them differently. Don’t think of them as failures, as unlike a lot of your friends, you had the courage to have a go. As the saying goes, “you only fail when you don’t try. The challenge is to learn from both your successes and your failures.

Map what you have learned from both and think about what changes you want to make in order to grow in the year ahead. Be bold, clearly define what success looks like for the new year and set audacious and achievable goals.

Your Values are your biggest Asset

Take time to re-assess your values, why you started on your business journey and what’s important to you on a personal level. Put your values to work daily throughout the year ahead. If it feels like we’re walking away from the founding values this country was successfully built on do what Gandhi advised and, “be the change you want to see in the world.” Decide what you really care about and the role you can play in helping make a positive change in the world.

Don’t sweat the small stuff!

It is easy to waste time on small, insignificant, time-draining stuff that will not help you achieve your goals.

Money is not the motivator, it is the measure of the value you add

Every business is obsessed with making a profit and there is nothing wrong with that, but you need to be more focused and ask yourself “What value am I adding to my customer that they will happily reward me with the price I am asking?”

Making a profit critical if you wish to stay in business for the long haul, and Price is the direct measure of the value you add and by having a clearly defined solution to your clients pain or problem.

Just be you, be true to who you are and what your values are

Don’t be a sheep, you created your business because you identified an opportunity in the market.

For the new 2018 what steps will you take to define your brand’s personality, take some time to revisit your values and who you are, what makes you tick, and why you get out of bed every day. Don’t just follow the crowd, be courageous and most of all, no matter what happens be proud of what you have achieved.

Surround yourself with people that can add value to your life and business

Hang around with the wrong crowd and sooner or later they start to rub off on your behaviour. So the opposite has to be true, surround yourself around intelligent people and both you and your business will benefit. Take a successful business person out to lunch and ask questions about how they achieved their success.

You only have a limited amount of time to spend each day so invest it wisely

Time is like money, it is not unlimited and once you spend it, it is gone. Don’t look back with regret, plan your day and make the most of every hour available to you to invest in things that either make you a better person to be around or add value to the thing you are doing, both in your personal life and business.

Be Entrepreneurial, do something new, take yourself out of your comfort zone and back your ability.

Allocate some ME TIME every week, learn to surf, ride a horse, run a marathon, write a book, learn a musical instrument. Just do something. There’s nothing like the excitement and sense of accomplishment that is earnt from doing something completely new for the first time.

And a bonus tip.

Do stuff you will be proud to tell a crowded room someday.

Have a great 2018!