Workers' Compensation is different in every state in Australia. Some are Government controlled and purchased through them, others have strict guidelines set by government however they are run by the insurers.
One thing does not change regardless of the state your in: If you do not have the correct cover in place, or if you have no cover at all and you have employees, there are significant penalties involved as well as the added risk of having an uninsured loss that can run into the hundreds or thousands of dollars.
Quite simply, it’s not worth the risk.
To find out more about Workers Compensation in your state, click on the state you're from: