Comcare, the Federal Government’s workers’ compensation scheme, is among the most expensive in the country after premiums were lifted to meet the increasing cost of psychological injury claims.

The average Comcare premium is 2.12% of wages this financial year, compared with 1.81% in 2013/14.

Its annual report cites “a significant increase during the past year in the number of claims for psychological injury and continuing increases in duration of time off work, particularly for claims from recent years”.

SA’s average WorkCover rate is 2.75% of wages, but the other states are all below 2% – the lowest being Queensland at 1.2% and Victoria at 1.27%.

Comcare reported a surplus of $54.6 million for the year to June 30, compared with a $98.3 million deficit the previous year.

It introduced a margin on premiums to restore full funding of the scheme.

Premium grew 20% to $411.1 million and claim payments fell marginally to $306.2 million.

The Federal Government’s moratorium on self-insurance licences was lifted last December, when companies with national operations could apply to be licensed under Comcare and be governed by one national scheme rather than different state schemes.

Comcare had received three new applications by June 30, and that month granted a licence to DHL Supply Chain.

Licensed self-insurers employ 157,000 full-time-equivalent employees.

About 25 companies and government agencies self-insure, with QBE, CGU, Gallagher Bassett and legal firms involved in claims review and management.