What capping is and how it affects the cost of your premium.
'Capping' occurs when a limit is placed on the size of your premiums.
If nothing changes in your business classification, and you're continuing normal operations, your premium rate will not exceed 30%.
A limit of 30% is placed on premium rate increases to protect your business from premium rate fluctuations. If you change industries, this limit is not used and your rate will be uncapped.
Importantly, the cap is placed on the premium rate for your industry, not on the amount of premium you pay. Any change to your premium is influenced by changes in your remuneration only.
Generally, your premium rate won’t increase by more than 30% if you're continuing normal operations and your classification has not changed or your workplace hasn't been added.