Insurance reporting period change

WorkCover Insurance: Reporting period for 2020/21

WorkSafe is changing the claims reporting period for 2020/21 WorkCover premium insurance renewals. The claims period now includes claims from 1 July 2019 to 31 December 2019. In this most recent six month reporting period Statistical Case Estimates (SCE) and/or other claim costs will not be included. Claims in this six month period will only include weekly payments in the claims costs. Using the more recent six months in the claims reporting period supports employers focusing on the best return to work outcomes for their employees.

Will this reporting change affect my business?

This change does not apply to small employers. If your remuneration is $200 000 or less, your insurance premium is calculated using the rate for your industry. Your WorkCover claims do not affect the calculation of your WorkCover insurance premium.

If my remuneration is over $200 000 how will this change affect my WorkCover insurance premium?

This change is in accordance with the WorkCover Insurance Premiums Order 2020/21 and is effective from the 1st July 2020.

Insurance premiums for 2020/21 are calculated based on claims received between 1 January 2017 - 31 December 2019. Claims statement processes will remain the same but there is a change to the reporting period and the amounts included for the extra six months (1 July 2019 – 31 December 2019).

Claims received between 1 January 2017 - 30 June 2019 will include the Statistical Case Estimates (SCE) and any other payments made on an individual claim to calculate your 2020/21 insurance premium. Claims received between 1 July 2019 - 31 December 2019 will not include SCE or other payments made on individual claims to calculate your 2020/21 insurance premium.

The date of the claims data extract will be 31 March 2020, this is the same as previous years.

Claims reported after 31 December 2019 will be included in the calculation of your 2021/22 insurance premium.