WorkCover SA has frozen its 2013/14 average premium rate at 2.75% of wages for the third year running.

“In the first half of 2012/13… our scheme funding ratio has increased from 59.2% to 60.2%, which is a pleasing result,” Chairman Philip Bentley said.

“In this period we have achieved a $120 million return on our investments, which has offset an increase in claims liability.”

WorkCover SA says it has a number of programs under way to bring down claims liability.

The state has the highest WorkCover rates in Australia. WA is at 1.691%, followed by NSW (1.68%), Queensland (1.45%) and Victoria (1.298%).