Your staff are your greatest asset and add value to your organisation, and now it is time to return the favour by ensuring they are well looked after when they are injured.

It is that time of year when Compensation for Occupational Injuries and Diseases (COID) policies are renewed for employers in the Class XIII industries (iron, steel, artificial limbs, galvanising, garage, metals and related industries). Remaining compliant with Rand Mutual (RMA) is the first step in ensuring staff are cared for if they are injured or contract an occupational disease.

RMA has been issuing 2017 COID policy invoices to its Class XIII members since 6 February 2017 ahead of the online earnings submission period which opens on 1 March 2017.
As promised, RMA has not increased the rate, which has been maintained at the 2014 rate.

Class XIII members have been categorised according to their compliance with RMA as well as their claims experience since transferring to RMA in March 2015 when compared to their industry peer group. This means that some members may have received a penalty for non-compliance while others were rewarded with a discount for their good safety record when compared with their industry peer group.

Members who have neither declared earnings nor paid premiums to RMA since their transfer from the Compensation Fund on 1 March 2015, and who are thus in breach of RMA’s policy conditions, have had an average number of lives and earnings applied that is in line with their industry peer group in order to determine a premium for 2017. RMA encourages compliance in order to ensure that staff are covered. Ongoing non-compliance will result in legal action being taken against these members.

“We encourage businesses falling under RMA to submit their earnings and pay premiums for the 2017 COID policy renewal period timeously and to avoid the rush. This will ensure they are in compliance for the year ahead and that their employees are protected. The period for online submissions opens on 1 March 2017,” says Patrick Matshidze, Chief Operating Officer at RMA.

“Since 2015 we have streamlined our processes to make it as simple as possible to complete renewals, including the enhancement of our convenient online portal to assist members. In addition, we are conducting a countrywide roadshow in which we are discussing the 2017 rates and assisting clients with the COID policy renewal process, including the declaration of earnings.

“Once members have received their premium invoices they should make payment well before 31 March 2017, which is the final deadline for payments in order for their company to receive a Letter of Good Standing on time. It is important to note that payments usually take around three working days to reflect in RMA’s account, and renewed Letters of Good Standing cannot be issued until the payment has cleared in our bank account. In addition to premium payment, clients are expected to submit their actual earnings (2016 payroll costs) and estimated earnings for 2017. The declaration of actual earnings are for the period 1 March 2016 – 28 February 2017, and the estimates for 1 March 2017 – 28 February 2018.

“If your company uses a third party agent to manage your COID business, please note that you as the employer are ultimately liable for all compliance matters with RMA. It is also your responsibility to ensure that you have submitted a power of attorney to RMA in order for the agent to submit on your behalf.”

Please note that for optimum use of RMA’s online portal, you require the latest version of Windows Explorer. There may be compatibility issues if using another browser type.

RMA’s policy renewals roadshow engagements for Class XIII employers are being held in various towns and cities during February and March. The roadshow schedule can be viewed at www.randmutual.co.za and confirm of attendance can be sent to  RMATraining@randmutual.co.za.

“As RMA, we are there to assist our clients with all injury on duty (IOD) administration and are committed to making our processes as efficient as possible. We thank our members for their ongoing support and wish them all the very best for a safe and productive year ahead. This is also a good time to contact RMA if you find you need other solutions to protect your employees,” Matshidze concluded.