Risk Management Funding (RMF) is an important initiative that your WorkCover agent provides each financial year. Agents allocate 1% of your premium payable (ex GST) each financial year as RMF, this funding is to be utilised for Risk Mitigation initiatives.
Each agent has different qualification thresholds and it is important to contact your agent to ensure that as a business, you qualify for Risk Management Funding.
Your agent will start communicating what your RMF allocation will be during the month of October, for the 20/21 financial year. This can be on new initiatives or compliment current Risk Mitigation spending that you already have within your business.
Each agent will have different cut off dates for RMF proposal submissions, so it is imperative to start thinking now where best to utilise the funding that is allocated to your business.
If you wish to discuss ways to best utilise your 1% allocation for 20/21, contact the friendly staff at Collective Safety for a chat.Email the Team