At the end of January each year, statement of earnings forms are sent to all the registered employers. These forms must be completed and returned not later than 31 March. The financial year of the Compensation Fund runs from 1 March to the end of February of the next year. For rating purposes employers are therefore divided into different classes and subclasses according to the nature of their activities. The assessment rates are fixed on the principle that each industry should carry the costs of its own accidents and are reviewed annually.
Any adjustment is therefore in accordance with the accident experience.
The Act makes provision for the payment of compensation to your employees sustaining an injury on duty. The employer is protected against all civil claims which may be instituted against him in the event of an injury on duty, even in the event of alleged negligence. Reasonable medical aid expenses arising out of an injury on duty are payable for a period of two years, or longer if further medical treatment will reduce the extend of the disablement. For further information regarding the reporting of claims I refer you to the W.CI.8 pamphlet. Payment of Merit rebates To adjust the position of employers who pay substantial amounts in assessments, which are out of proportion to their accident costs, the system of awarding merit rebates every three years was introduced.