Premiums Order 2020/21
The methods for calculating employer WorkCover premiums for the 2020/21 year are set out in the Workplace Injury Rehabilitation and Compensation Act 2013 Premiums Order (No. 28) which is published in the Victoria Government Gazette Periodical No. P1 Wednesday 3 June 2020.
Industry rates for 2020/21
Industry Rates for the 2020/21 premium year are set out in Special Gazette No. S 271 which is published in the Victoria Government Gazette on Wednesday 3 June 2020.
Average premium rate for 2020/21
The average premium rate for 2020/21 is 1.272% of the state's rateable remuneration
Key dates for 2020/21:
Claims Statement available on line - 12 May 2020
If employers reported claims between 1 January 2017 and 31 December 2019 they can access a WorkCover Insurance Claims Statement using Worksafe's Online Employer Services from 12 May 2020. This statement is only provided once a year and is used to calculate premium for the 2019/20 year.
Certificate of Currency
Certificates are available from 9 June 2020. To have a Certificate of Currency sent to you each year sign up for email delivery via WorkSafe's Online Employer Services.
Buying out your excess
Employers have until 1 August 2020 to take up the excess buy-out option.
Updating your premium
Employers can review or update their Estimate of Rateable Remuneration for 2020/21 (from 26 March 2020) and can also pay their premium online based on their updated remuneration using WorkSafe's Online Employer Services.
Submissions received before 30 June 2020 will be reflected in renewal notifications.
Premium Renewal Notices
Employers can access their 2020/21 Premium Renewal notifications online using WorkSafe's Online Employer Services from 9 July 2020.
2020/21 Premium due dates
- 5% discount due date – 31 August 2020
- 3% discount due date – 1 October 2020
- First premium instalment (for monthly or quarterly plans) – 1 October 2020
- Annual premium due date (without discount) – 1 November 2020
Dates for certifying your 2019/20 remuneration
- 23 October 2020 (if your 2018/19 rateable remuneration was more than $200,000).
- 26 March 2021 (if your 2018/19 rateable remuneration was $200,000 or less).
Other key dates and parameters for WorkSafe insurance premiums in the 2020/21 Premiums Order.
- Claims Reporting Period – 1 January 2017 to 31 December 2019
- Remuneration Experience Period – 1 July 2016 to 30 June 2019
- Minimum premium – $215 ($236.50 including GST)
- Maximum claims cost for an individual claim – $415,900
- Maximum legal costs for an individual claim – $77,800
- Maximum recovery – for an individual claim allocated to an employers' performance calculation - $415,900