WorkCover Queensland has increased the industry rate for workers’ compensation premiums to an average of 1.42% for 2011/12, up 9%.

This compares with 1.3%, or $1.30 for every $100 of wages in the current financial year.

WorkCover Queensland Chairman Ian Brusasco says the state will still have the second-lowest average premium of any state, and it is still well below the 1.55% levied in 2004 and 2.145% in 1998.

Victoria’s WorkSafe recently announced its 2011/12 rate would be 1.338% and WA has set a rate of 1.547%.

NSW has a rate of 1.66% for 2010/11 and the SA rate is currently 2.756%.

Mr Brusasco says WorkCover Queensland has a solvency rate above 100%.

“The new premium rate will help us maintain our solvency and the viability of the fund,” he said.