Queensland premiums steady finds report
Queensland businesses will pay the same 1.45 per cent in workers compensation premiums, with WorkCover Queensland’s average rate remaining at $1.45 per $100 of wages paid for the 2013-14 year, representing the second lowest average premium in the country.
“Steady claim numbers combined with good management and investment performance has enabled our average rate to be maintained,” said WorkCover Chairman, Glenn Ferguson.
“With the unpredictable nature of the current economic environment, it is important that adequate reserves are maintained to ensure certainty for our customers in premium and the ongoing viability of the Fund,” he said.
More than 50% of industry rates have decreased. However some industries will experience an increase due to rising claims costs. “More focus is needed on injury prevention and management as well as return to work in these industries and we are working with employers to improve their performance,” said Mr Ferguson.
WorkCover will publish industry rates prior to 30 June 2013 and communicate with customers about their premium for the 2013–2014 year. This will include the proposed change to the definition of ‘worker’ to be implemented from 1 July 2013, if passed by Parliament.