In NSW, the following factors are used to calculate workers compensation insurance premiums:

  • Industry in which the employer operates;
  • Annual wages paid to employees; and
  • Claims and wages costs over 3 years (if your premium is greater than $30,000)

If you are a small employer, i.e. if you pay average performance premium less than or equal to $30,000, your premium will not be impacted by the costs of your workers compensation claims.

Small employers who do not have any claims will receive 10% discount off their premium. Any small employer that has a claim will retain the 10% discount if the injured worker is returned to pre-injury employment within 13 weeks.

For further information please refer to the icare Workers Insurance website.