Victorian WorkCover premiums have increased to an average of 1.8% of annual remuneration compared to 1.27% last financial year. This is an unprecedented increase of 42%.
The increase in rates will be different across all industries, but we expect our business clients will see the changes in their Workcover insurance premiums on their annual renewals over the next couple of months.
It’s important that you have declared your annual remuneration for 2023 and estimated remuneration for 2024 with your insurer to ensure your premiums are accurate.
HTA can assist with this declaration, please reach out to your advisor with any queries.
