Currently, individual strata schemes are purchasing separate minimum premium workers compensation policies to cover themselves against the possibility that they may engage domestic employees.

Under the new arrangements, domestic strata title holders will now be able to take out a minimum premium workers compensation policy for domestic workers as part of their general insurance arrangements.

The premium cost under this arrangement will reduce from $175 to a maximum of $150.

As well as premium savings, the new streamlined process will mean less administration for body corporates and strata managers.

Insurers have been invited by WorkCover NSW to apply for the new licence that will allow them to offer packaged workers compensation insurance to residential strata schemes.

WorkCover will publish on its website a list of those insurers who will provide packaged workers compensation insurance to residential strata schemes following the completion of the licencing process.