If you are a practising construction contractor, then you need trade insurance to protect your business from different risks, including fire, theft, public liability and workers' compensation. Notably, you should give priority to trade insurance policies that will protect your business significantly, such as workers' compensation. The trade policy covers employees against work-related injuries or illnesses. Workers' compensation trade cover also covers employees' medical expenses, rehabilitation and wages due to an injury or illness. Most importantly, every state and territory in Australia requires employers to provide workers' compensation insurance for their staff.
15 June 2020