You will need to obtain workers compensation insurance if you are a Queensland business that employees people. Workers compensation insurance covers workers against workplace accidents. A business must take out an accident insurance policy within 5 business days after employing people.
The majority of Queensland employers get their workers' compensation insurance through WorkCover Queensland. While you continue to employ workers, you will need to renew your policy with WorkCover Queensland each year. WorkCover Queensland will contact you each July when your policy is due for renewal.