WA body seeks national profile
Workcover WA wants to strengthen its profile across Australia to ensure its views on a possible national scheme are heeded.
The state authority’s annual report says WA’s privately underwritten workers’ compensation scheme “holds unique benefits that must be considered in debates over harmonising state schemes”.
A statement signed by Workcover WA Chairman Greg Joyce and CEO Michelle Reynolds says they have represented WA at several key industry forums in the past year, and “we will progressively step up our commitment in the coming year”.
The report shows the WA scheme is in fine financial shape, and notes that last financial year it set the lowest average recommended premium rate in the system’s history. The downward trend is expected to continue in the current financial year.
“The average recommended rate has reduced by 52% since 1999/00 and by 43% since 2001/02,” the report says.
It attributes the good financial conditions to recent high wages growth and changes made in 1999 to the Workers’ Compensation and Injury Management Act which restrict claimants’ access to common law.
Workcover WA earned $28.65 million last year and spent $18.7 million. About 63% of its income comes from insurer contributions in the form of an annual levy paid by employers and by a direct levy on employers who are allowed to self-insure.
Total revenue from premiums in 2009/10 was $793.2 million, with workers’ compensation payouts at $648 million.
The authority says one of its major goals during the current financial year is to review its communication tools used to inform insurers on scheme developments, policies and procedures.
It says it will also “increase our engagement with insurance brokers by introducing accredited training.”