Australia

Market Update - VIC Workplace Risk

The Victorian scheme remains stable in the absence of any major legislative changes. The Average workers compensation Premium Rate for 2017/18 is 1.272% of the State's rateable remuneration and is consistent with the average rate for the past three years for Victoria.

Overview

This update will cover the following:

  • Claims Experience Period
    The claims experience period for the 2018-19 policy year (the claims that impact employers’ workers’ compensation premiums) are standard claims received between 1 January 2015 to 30 June 2017.
  • Risk Management Funding
    WorkSafe has ‘tightened the belt’ with regards to an Agents’ ability to offer risk management funding (‘RMF’).
  • WorkSafe 2030 Strategy
    WorkSafe Victoria recently released a publication regarding their long-term strategy ‘WorkSafe 2030’.
  • Update on ISO 45001
    Occupational health and safety management systems – requirements with guidance for use, has now been adopted in Australia which sees AS/NZS 4801 being replaced in it’s entirety.
  • Self Insurance
    WorkSafe granted a self-insurance licence in December 2018 for an Aged Care provider for a three year period.

For further information, please contact:

Marc Esmaquel

Client Manager
+61 3 9211 3707
marc.esmaquel@aon.com