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loss prevention and recovery

Find out about this new product for large employers.

At icare workers insurance, we’re always working to improve our various products for different customer segments. Recently, we’ve been working closely with our large employer customers to understand their needs in these changing times and provide a product that meets their requirements.

At the end of a process which involved three Accelerated Solution Environment (ASE) workshops with over fifty of our largest customers and key stakeholders we decided to refresh our Retro Paid Loss (RPL) product to create a new, improved and better aligned product for our large employer customers.

The new product –Loss Prevention and Recovery (LPR) for large employers – has now been introduced and here are some important points we’d like to share with you.

  1. Why are the Retro Paid Loss (RPL) premium arrangements being changed?
    Feedback from the large employer customers of icare workers insurance revealed key improvements required to meet their needs better.
  2. What was the process for changing the large employer product?
    At icare workers insurance our products are designed with a clear focus on the customers. In this case, to create a product that met their needs better, we worked with our customers and co-designed the new product with them. Fifty of the largest employers and key industry stakeholders of icare workers insurance participated in the co-design through Accelerated Solution Environment workshops.
  3. Why is the new model called the Loss Prevention and Recovery (LPR) model?
    Through the process of co-design it became clear that we needed to change the product name to reflect the core focus for large employers of icare workers insurance. The new name emphasises the fundamental principles of loss prevention and recovery at work.
  4. What did our customers tell us during our co-design?
    The co-design group wanted a simplified application process and greater choice to control their financial commitments.
  5. What enhancements have been made to the LPR product?
    1. The application process: There’s now one single application form that combines three elements: the application, declaration of estimated wages, and self-assessment of the employer’s Work Health and Safety (WHS) and Return To Work (RTW) programs.

      This same form is used for each renewal. The simplified application form for the LPR model has replaced the four-month application process with a simple WHS and RTW self-assessment regarding an employer’s WHS management system (WHSMS) and RTW program, instead of the fully documented WHS and RTW programs.
    2. Optional security deposit
      At the commencement of any period of insurance, employers may choose to pay a security deposit or pay the alternative Renewal Premium adjustment for the term of the insurance period.

      Option 1: Security is represented by cash, bank guarantee or insurance bond which is to ensure payment of premium if employers are not able to meet their workers compensation liabilities.

      Option 2: The Renewal Premium adjustment is an alternative option paid as part of the premium in place of the Security deposit.
  6. How does an employer apply or renew?
    Existing employers: All existing LPR employers will be sent a renewal form to complete and provide to icare by 4pm on the 30th of June.

    New applicants are required to complete the application and provide to icare by 15th of June.
  7. How to connect with icare workers insurance?
    If you have any questions or you would like to know more about the LPR product, please contact the LPR team on 13 44 22 or

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