Controversy over SA WorkCover premiums
SA Greens MLC Mark Parnell says the State Government is planning to cut employer WorkCover premiums in July – a move he says amounts to “economic vandalism”.
Mr Parnell called for a shelving of the plans after WorkCover CEO Julia Davison advised that unfunded liabilities will top $1 billion for the first time, due to reduced investment returns.
“Despite the slashing of injured workers’ benefits last year, WorkCover has delivered the worst performance in its history,” he said.
A spokesman for Ms Davison’s office told insuranceNEWS.com.au no decision on a premium cut has actually been made, and Ms Davison issued a statement suggesting premium cuts aren’t necessarily on the agenda.
“The WorkCover board will take the global financial crisis into consideration when it sets the 2009/10 levy rate at its meeting in March,” Ms Davison said in a statement.
Mr Parnell called for a shelving of the plans after WorkCover CEO Julia Davison advised that unfunded liabilities will top $1 billion for the first time, due to reduced investment returns.
“Despite the slashing of injured workers’ benefits last year, WorkCover has delivered the worst performance in its history,” he said.
A spokesman for Ms Davison’s office told insuranceNEWS.com.au no decision on a premium cut has actually been made, and Ms Davison issued a statement suggesting premium cuts aren’t necessarily on the agenda.
“The WorkCover board will take the global financial crisis into consideration when it sets the 2009/10 levy rate at its meeting in March,” Ms Davison said in a statement.