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These three tips will help you avoid COID nightmares

by , 30 July 2014
When your employees have an accident at work, productivity goes from 100 to zero in seconds.

The reason? You now have to stop and investigate and all those injured will have to take time off work.

But there is a silver lining in this very dark cloud. You can ensure your employees get the compensation they need to cover their medical costs and the money they may lose for days off.

It's all thanks to COID! But to ensure your employees get that compensation, you must use these three tips to avoid any time-wasting COID nightmares...

Here's how COID works

The Compensation for Occupational Injury and Disease Act (COIDA) is there to help your employees if they have accidents at work. 
But this isn't always an easy process. There's a lot of admin involved. To be able to claim, you must:
- Register your company with COID;
- Submit your statement of earnings each year;
- Pay your COID assessment tariff each year;
- Report any accidents that result in injuries or diseases;
- Do an investigation into the accident for the compensation claim;
- Submit a claim to the compensation fund for workers' compensation for your employee's injury; and
- Wait for the commissioner's decision.
During this process, there are lots of things that could go wrong. But if you use these three tips, you can avoid all of them...
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Do you know when to claim from COID? Shocking survey reveals 5 out of 7 managers don't! 

Three tips that'll help you avoid problems when you deal with COID

Tip #1: Never wait when it comes to registering, submitting earnings, paying tariffs and making claims. The longer you wait, the more likely it is you'll lose or forget something.
Tip #2: Keep all your COID documents on file. Include copies of your employees' doctor's certificate from their accident. 
Tip #3: Always be honest will COID. If it thinks something doesn't add up in your registration, earnings or claims, it'll investigate. This will add even more time onto the process.
Always keep these tips in mind when it comes to dealing with COID so you can avoid complications. 

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