Injury Insurance Calculation - Large Business

Medium and large employers – annual remuneration over $200,000

If an employers rateable remuneration is over $200 000 then their WorkSafe Injury Insurance premium is calculated using:

• the rate of their industry;
• their claims experience compared to their industry’s experience; and
• the size of their business (measured using remuneration and industry rate).

If an employer’s claims performance is better than their industry’s they will pay less than the industry rate.  Alternatively, if an employer’s claims performance is worse than their industry rate, they are likely to pay a higher amount than the industry rate.

The degree to which an employer can move above or below their industry rate is dependent on the size of their business, the performance of the industry in which they operate and their claims performance over the last three financial years compared to the performance of their industry.

For more information regarding medium to large employers see: Key Dates and Further Information: Your WorkSafe Injury Insurance - A guide for medium to large employers