WorkCover WA sets 2012/13 premiums
WorkCover WA has set an average recommended premium of 1.691% of total wages for 2012/13, compared with 1.569% in 2011/12.
Chairman Greg Joyce says the 7.8% rise reflects a moderate increase in claims numbers, removal of age limits on workers’ compensation and improved protection for workers employed by uninsured employers.
Lower real rates of return have also put pressure on rates, offset to some extent by wages growth, he said.
“While recommended premium rates have fallen significantly over the last decade, the challenging economic environment and improvements to worker entitlements have led to modest increases in recommended rates in the past two years,” he said.
Other states are still to declare their 2012/13 rates. The NSW rate is now 1.68%, Victoria 1.338%, Queensland 1.42% and South Australia 2.75%.