Is your Workcover Premium higher than the industry rate?

If your 2014/15 Workcover Premium invoice states you’re paying above the industry rate, there are steps you can take to reduce it!

Paul Konstantos, Manager Workers Compensation Division advises you take the following steps:

  1. Confirm your 2013/14 remuneration. This year employer’s with over $200,000 in rateable remuneration have until 31 October 2014 to certify their wages.  Make sure you are certifying the correct wages! 
     
  2. Review your 2014/15 remuneration estimate.  If you didn’t go on-line to estimate your 2014/15 wages, the premium notice you have received has used your 2013/14 estimated wages as the base and added 4.75% indexation.  You need to ensure that this figure is accurate or you could be paying more premium than needed.  
     
  3. Take action to reduce your future premiums.  Our Workers Compensation Specialists will work with you to implement a robust Injury Management Program for your business which will reduce the impact of claims to your premium.  We can also implement a Risk Management program to prevent/reduce the number of claims moving forward.

Austbrokers Phillips Specialist Workers Compensation Team can help you.  Simply call 1800 819 394 or email them directly at advice@abphillips.com.au
 

Workers Compensation can often be the largest insurance cost for business. Reduce your risks and costs by employing preventative strategies to minimise premium and claims costs for your business with less incidents.