Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue their employer for the tort of negligence. The trade-off between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain". One of the problems that the compensation bargain solved is the problem of employers becoming insolvent as a result of high damage awards. The system of collective liability was created to prevent that, and thus to ensure security of compensation to the workers. Individual immunity is the necessary corollary to collective liability.
Singtel Optus Pty Limited d/b/a Optus is the second largest telecommunications company in Australia and is a wholly owned subsidiary of Singaporean company Singtel. The company primarily trades under the Optus brand, while maintaining several wholly owned subsidiary brands, such as Virgin Mobile Australia in the mobile telephony market, Uecomm in the network services market and Alphawest in the ICT services sector.
iiNet Limited is an Australian internet service provider. It was acquired by TPG Telecom in September 2015 for $1.56 billion, but retained its retail brand name in the market. Its subsidiaries include Internode, Westnet, AAPT Limited, Adam Internet, TransACT and Netspace. The company provides ADSL-based Internet access, using their own ADSL2+ infrastructure and reselling Telstra ADSL services, as well as reselling the NBN. iiNet also provides optical-fibre, dial-up, and voice services.
Liberty Mutual Group, is an American diversified global insurer, and the third-largest property and casualty insurer in the United States. It ranks 68th on the Fortune 100 list of largest corporations in the United States based on 2017 revenue. Based in Boston, Massachusetts, it employs over 50,000 people in more than 900 locations throughout the world. As of December 31, 2016, Liberty Mutual Insurance had $121.7 billion in consolidated assets, $102.5 billion in consolidated liabilities, and $38.3 billion in annual consolidated revenue. The company, founded in 1912, offers a wide range of insurance products and services, including personal automobile, homeowners, workers' compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, fire and surety.
Xchanging is a business process and technology services provider and integrator, owned by DXC Technology. It provides technology-enabled business services to the commercial insurance industry. In outsourcing, Xchanging will typically take over a customer's business process, or back office function, and incorporate them into an existing platform which they claim provides improved and cheaper handling of administrative tasks.
Eftel Limited is an internet service provider and telecommunications provider in Australia, with approximately 120,000 active accounts. It was established in 1999. Eftel offers a range of services including: DSL and dial-up Internet access, web hosting and telephony services - to the retail, corporate and wholesale telecommunications markets.
Altium Limited is an American, Australian-domiciled owned public software company that provides PC-based electronics design software for engineers who design printed circuit boards. Founded as Protel Systems Pty Ltd in Tasmania, Australia in 1985, Altium now has regional headquarters in the United States, Australia, China, Europe, and Japan, with resellers in all other major markets.
Australia's insurance market can be divided into roughly three components: life insurance, general insurance and health insurance. These markets are fairly distinct, with most larger insurers focusing on only one type, although in recent times several of these companies have broadened their scope into more general financial services, and have faced competition from banks and subsidiaries of foreign financial conglomerates. With services such as disability insurance, income protection and even funeral insurance, these insurance giants are stepping in to fill the gap where people may have otherwise been in need of a personal or signature loan from their financial institution.
nib Group is an Australian health care fund. It was established in the NSW Hunter Region in 1952 to provide health insurance for workers at the BHP Steelworks, and has since grown into a national and international operation. The Commonwealth Private Health Insurance Ombudsman's report: "2017 State of the Health Funds" stated that of the larger Australian funds, nib held an 8.3% market share.
Sims Metal Management Ltd is the leading metals and electronics recycling company in the world. The company specializes in ferrous and non-ferrous metals recycling, post-consumer electronic goods recycling, and municipal waste recycling. Founded in 1917, its primary operations are located in the United States, Australia, and the UK.
Allianz SE is a European multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. As of 2014, it is the world's largest insurance company, the largest financial services group and the largest company according to a composite measure by Forbes magazine, as well as the largest financial services company when measured by 2013 revenue. The company is a component of the Euro Stoxx 50 stock market index.
M2 Group Ltd was an Australian retailer and wholesaler of telecommunications services as well as power, gas and insurance products.
Highway 1 was an Internet Service Provider (ISPs) in Australia., established in 1994. In 2012, following the acquisition and integration of Global Dial, Highway 1 was renamed to ZettaNet Pty Ltd.
GIO, or GIO General, is an Australian general insurance provider. The company, which is owned by the Suncorp Group, offers insurance products, such as car, home and contents, CTP, boat, caravan, travel, business, public liability and workers compensation and life, primarily in the state of New South Wales and the Australian Capital Territory. The insurer was founded as the Government Insurance Office New South Wales in 1927 to provide workers compensation insurance and adopted the name, GIO. The insurer listed on the Australian Stock Exchange in August 1992 and in January 1999 was acquired by AMP Limited. In 2001, the Suncorp Group acquired GIO as part of AMP's general insurance interests.
FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.
ZettaNet is an Australian network management provider and internet service provider (ISP). ZettaNet provides NBN, fibre-based Ethernet, VoIP, website hosting, data centre colocation and other internet services to customers across Australia. ZettaNet's headquarters are in Perth, Western Australia, with sales offices in Sydney, New South Wales.
Rand Merchant InvestmentHoldings, also referred to as RMI Holdings, is a listed financial services investment holding company that holds a diversified portfolio of premier insurance brands in South Africa, Australia, China, Mauritius, New Zealand, Republic of Ireland, Singapore, the United Kingdom and the United States of America.
OUTsurance Holdings Limited, commonly referred to as OUTsurance, is a subsidiary of Rand Merchant Investment Holdings, a South African based financial services investment holding company. OUTsurance Holdings Limited was formed in 1998 and is an unlisted public company with headquarters in Centurion, South Africa. It is an insurance services holding company based in South Africa, with subsidiaries in Namibia, Australia and New Zealand.
Employers Mutual Limited is one of the oldest Australian member-owned unlisted insurance public companies. First founded in 1910, it is one of the work injury claims management services providers in Australia. The service range of this company is only in Australia, with approximately 1,330 workers operating in New South Wales, South Australia and Victoria. The head office of this company is in Sydney. Other branches are distributed in Parramatta, Newcastle and Gosford, New South Wales, and a South Australian branch in Adelaide.
