IT IS A YEAR since a policy to protect workers in hazardous occupations has been in operation. In welcoming the many workers who have benefited from this policy Cbus is concerned proposed legislation could put that vital insurance protection at risk.

Under the Putting Members Interest First Bill, the Senate Crossbench and the Government, together with the ALP and Greens Senators, voted to recognise the importance of insurance for super members in hazardous jobs.

Due to this recognition and amendment, from 1 April 2020 workers in dangerous jobs have been able to keep their automatic entitlement to insurance if they were under 25 years old (via the Dangerous Occupation Exception).

Claims made and paid out by Cbus in this period include tragic incidents of teenagers, fathers and carers dying during this period, and includes members being killed or injured at work.

Just for the building and construction sector that Cbus covers, the Dangerous Occupation Exception has allowed 115,800 building and construction workers to obtain or retain vital insurance. A total of $7,256,200 (58 claims) has already been paid to members or their beneficiaries between 1 April 2020 to 31 March 2021 that would not have received any insurance at all, had the exception not been passed into legislation.

About 93,000 existing Cbus members were able to retain their insurance from 1 April 2020 due to the existence of the Dangerous Occupation Exception. 22,800 new members who joined Cbus from 1 April 2020 to 31 March 2021 were provided cover automatically under the Dangerous Occupation Exception.

Cbus is concerned that the availability of insurance for workers in hazardous occupations is now at risk of being undermined with the stapling proposal in the Your Future, Your Super Bill. Stapling would link a worker to their first super account for their first job, unless the worker actively chooses another fund (unfortunately, most young workers don’t). The proposed stapling measure puts at risk young workers new to building and construction, who are at risk of no longer receiving automatic, affordable insurance cover through the Dangerous Occupation Exception.

In addition, many funds’ policies – including those funds that workers are most likely to be stapled to under Your Future Your Super – contain exclusions or unfavourable terms and conditions because insurance cover has not been tailored for their hazardous industry. This means that despite paying insurance premiums, workers in higher risk heavy blue-collar occupations or people working above 15 metres are not actually covered. Members and their families typically only discover these exclusions when tragedy has struck, and they try, and fail, to make a claim against cover they believed they had.

Cbus CEO Justin Arter said, “The first year of the Dangerous Occupation Exception has shown tangible benefits to Cbus members who continued to have insurance coverage. We acknowledge the positive implications of the amendment from the Senate Crossbench and Government.

“This first year of operation of the Dangerous Occupation Exception underscores the importance of the amendment. Why would there be recognition for the importance of insurance for workers in dangerous occupations then, but not after a year in operation? The flow through effects of the amendment illustrate how we must stay the course with providing industry specific insurance for workers in hazardous jobs.

“If a construction worker is ‘stapled’ to a fund they joined at their first job, they could be paying for insurance that won’t cover them if they’re seriously injured. Many Cbus insurance claims are from workers in their first year on the building site when they are new to the industry and at higher risk.

“For example, having access to automatic insurance is fundamental for members working with heavy machinery and working from heights.

“Workers need protection from their first day on site. The first year of the Dangerous Occupation Exception has meant that protection has been there when workers most need it. Without it, their families would suffer financially.

“The Your Future Your Super Bill should be rejected by the Senate Committee examining it. The recent hearings exposed that the issues with it are too many, and far too serious to be resolved via tinkering. If passed, it could leave 2.7 million people* - 20 percent of our working population - who work in in hazardous occupations worse off.”

Cbus’ broader concerns with the Your Future Your Super Bill are outlined in Cbus’ full submission, which is available upon request.

Reference:

*Figures are based on analysis of Safe Work Australia’s Work-related Traumatic Injury Fatalities data from 2016 and 2017 (the most recent available for each occupation), as set out in Tables 1 & 2, Actuaries Institute Information Note - Dangerous Occupation, November 2019, https://www.actuaries.asn.au/Library/Standards/MultiPractice/2019/INFinaltoAI261119.pdf

About Cbus:

Cbus is the leading Industry Super Fund for the building, construction and allied industries. As one of Australia’s largest super funds, we provide superannuation and income stream accounts to more than 776,000 members and we manage over $60 billion of our members’ money (as at 28 February 2021). Our members include workers and retirees, their families and employers.

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WHAT LIES BENEATH is about to become a whole lot clearer in Queensland following today’s launch by Resources Minister Scott Stewart of the state’s fifth consecutive round of funding to support exploration. 

Queensland Exploration Council Chair Kim Wainwright said competition for funding through the State Government’s Collaborative Exploration Initiative (CEI) was expected to be strong, based on the response to previous rounds. 

“These highly sought-after grants play a critical role in helping to get explorers onto the ground and we warmly welcome today’s announcement by the State Government of $2.5 million in funding for this CEI round,” she said. 

“So far, the CEI has provided $10 million worth of funding to more than 190 explorers over the past 14 years. 

“Explorers take on a lot of risk many traditional businesses shy away from, but their commitment and passion to uncover new resources contributes to the overall wealth of all Queenslanders.” 

Ms Wainwright said Queensland’s CEI had already led to more than 50 significant mineral deposit discoveries over the past 14 years in under-explored areas of Queensland, amongst them significant silver, lead and zinc deposits as large as South 32’s Cannington mine. 

“Funding received through a previous CEI round also contributed to Australia’s largest discovery of a copper-cobalt resource by Aeon Metals,” she said. 

“Another great example is the $200,000 in funding awarded to Red Metal to use  magnetotelluric survey equipment to undertake detailed mapping of known zinc, lead and silver deposits in and around the old Century Mine near Lawn Hill.” 

Ms Wainwright said new mineral discoveries will lead to more jobs for Queenslanders and billions of dollars in royalties going into the state budget. 

She said Queensland has vast potential to provide the critical minerals and rare earths needed to manufacture everyday items like smart phones and renewable energy products such as wind turbines, electric cars, solar panels and batteries. 

“Queensland has critical minerals the world needs to produce the infrastructure required for renewable energy as we transition to a low-emissions future,” she said. 

www.qrc.org.au

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ON THURSDAY and Friday, April 22-23, the House of Representatives Standing Committee on Health, Aged Care and Sport will hold two days of public hearings in Melbourne as part of the committee’s ongoing inquiry into approval processes for new drugs and novel medical technologies in Australia.

The committee will hear evidence from numerous stakeholders including patient advocacy groups, various pharmaceutical companies, research bodies and clinical trial centres. The program for the hearings is available at the committee’s website.

The chair of the committee, Trent Zimmerman MP, said, "The inquiry has received a lot of interest with 185 submissions to date. At the public hearing, the committee will continue to hear from stakeholders to find out how Australia’s approval systems and funding for new medicines and novel medical technologies will provide the best possible outcomes for all Australians now and into the future.

"In particular, the committee is interested in hearing about new innovative drugs and novel therapies that are being developed in Australia and overseas. The repurposing of drugs to treat new conditions will also be discussed.

"Two other important aspects to be reviewed include making the approvals process for new drugs and novel medical technologies more efficient, and consideration as to how Australia could be a more attractive location for clinical trials,’ Mr Zimmerman said.

Further information about the committee’s inquiry including the full terms of reference are also available at the Committee’s website. Seating at the public hearing will be limited due to Covid restrictions. Interested parties are encouraged to listen to the audio live streaming.

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AUSTRALIA'S FIRST ASTRONAUT, Paul Scully-Power, appeared before the House Standing Committee on Industry, Innovation, Science and Resources for its Inquiry into Developing Australia’s Space Industry  in Sydney today.

Dr Scully-Power shared  his experiences and insights into what he describes as the ‘next world revolution’.

The chair of the committee, Barnaby Joyce MP said, "The Committee is very excited to be hearing from Dr Scully-Power and his ideas around ‘new space’, new technologies, and new opportunities for people to be involved in the space industry. Space related technologies were once considered those of the future – robots, drones, remote sensors, and artificial intelligence – but are very much where we are now.  

"For Australia to be competitive, we need to not only foster these technologies and their applications but ensure we have people with the right skills and expertise to make it happen." Mr Joyce said.

Other witnesses appearing in Sydney included Saber Astronautics, Solar Space Technologies, Moonshot, and the Space Industry Association of Australia.

The Committee will also hold a hearing in Armidale tomorrow.

Mr Joyce said, "There is so much potential for our rural and regional areas to benefit from and get involved in Australia’s space sector. This includes the links between our regional industries and the space sector, the application of space related technology and infrastructure to agriculture, health and telecommunications; and of course the uptake of regional education and training to better equip young people to build careers in this industry."

The committee will conduct a site visit of the University of New England’s SMART Farm Innovation Centre to see how satellites, sensors and software are being used in agriculture and farm management.

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