A settlement finalises a workers compensation claim. If a worker enters into a settlement, they will not be entitled to any further compensation under the Workers Compensation and Injury Management Act 2023.
A settlement may include lump sum compensation for income compensation payments, future medical and health expenses, and/or permanent impairment compensation. A settlement may also prevent the worker from pursuing common law damages.
If a worker has commenced a common law action in relation to their injury, the parties may be able to enter a common law settlement.
As each claim is different, your workers compensation insurer is best placed to provide specific information and advice in relation to settlement of a particular claim.