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NSW's "date rationalisation" policy raises small business premiums by ending insurance terms on month’s last day, cutting new firms' access to claims-free rate discounts.
A NSW workers’ compensation policy called "date rationalisation" has led to higher premiums for small businesses by shortening insurance terms to end on month’s last day, preventing new firms from benefiting from claims-free first years.
Critics, including Greens MP Abigail Boyd and business owner Mitchell Jones, say this forces companies—especially in NDIS, health, and start-up sectors—onto higher default rates, with Jones claiming his business overpaid by $800,000 and up to 5,000 firms affected.
While icare says about 500 businesses are impacted annually, the policy’s legal basis is unclear, with SIRA initially finding no foundation before calling it "legally implied."
The practice, criticized as arbitrary and secretive, remains under scrutiny amid stalled workers’ comp reforms.
La política de "racionalización de fechas" de Nueva Gales del Sur aumenta las primas de las pequeñas empresas al poner fin a las condiciones de seguro el último día del mes, reduciendo el acceso de las nuevas empresas a descuentos de tarifas sin siniestros.