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Victorian Employers with Small Claim Costs Set to Reap Benefits from 2023-24 Industry Rate Surge?

The policy period for 2023-24 is characterised by uncertainty due to changes in the methodology used to calculate premiums. These changes will have an impact on the premium calculation, necessitating the implementation of special rules to mitigate the effects of these changes. Employers who have WorkCover claims that are sensitive to premium costs for the 2023-24 policy period, particularly those […]

Statistical Case Estimation (SCE): A Comprehensive Guide to WorkSafe Victoria SCE Model & Premiums

WorkSafe Victoria uses the Statistical Case Estimation (SCE) method to estimate future workers’ compensation claims costs. Our research has compiled a guide to help employers understand SCE modelling, even though specific details about WorkSafe Victoria’s method are limited. Employers in Victoria should prioritise understanding SCE as a crucial tool for managing claims costs, assessing safety interventions, and complying with workers’ […]

What Effects Do WorkCover Claims & Other Factors Have on Your Premium & Advice?

An Overview of WorkSafe Victoria Premium What is Workers’ Compensation? In a nutshell, workers’ compensation insurance covers occupational illnesses and injuries. It will pay for medical treatment and other expenses such as lost wages, rehabilitation, job training, and temporary disability as the injured or ill employee recovers. Related reading: What is Workers’ Compensation insurance? Workers’ compensation costs are regarded as […]