Workcover premiums update for Victoria

Insurance brokers working in the area are advised  that the Victorian WorkCover Authority has made important updates to the industry rates.

The Victoria Government Gazette No. S 207 has specified the industry rates and industry claims cost rates for the 2019/2020 premium period, for each WorkCover Industry Classification listed in Schedule 1 of the Premiums Order.

Notice has also been given that the Victorian WorkCover Authority has determined that the default industry rate is 8.015 per cent and the default industry claims cost rate is 0.885 per cent for the 2019/2020 premium period.

You can find the complete list of the specified percentage amounts on via the Victoria Government Gazette here.