Queensland WorkCover premiums among lowest in the country

The Queensland Government has increased the average premium rate for workers’ compensation insurance. For the financial year 2022–23, Queensland businesses will pay $1.23 per $100 of wages paid. The average premium rate for 2020-2021 was $1.20 per $100 of wages paid.

WorkCover CEO Bruce Watson said, “While this is the first premium increase since 2012-2013, we still offer one of the lowest premium rates in the country.

“Like many other health and insurance organisations, we are experiencing the pressure of rising claim costs.

“Our strong financial position has allowed us to subsidise premium rates for Queensland business by $1.2 billion over the past six years. To not take any action this year on premium rates would be irresponsible and could risk the quality of services delivered.”

The full story is available on the WorkSafe Queensland website.