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2014 WorkCover Queensland industry classifications released

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06 Jun 2014

WorkCover Queensland’s industry classifications (WIC) and rates have been released (Gazette). The Gazette also details the new premium model for employers with wages of $1.5 million or less.

Queensland now has the lowest average premium rate in Australia with $1.20 per $100 of wages representing a reduction of 17% from the 2013–2014 rate ($1.45 per $100 of wages).

While most employers will enjoy a reduction in their premium rate this year, it is important to remember that factors such as wages, claims experience and industry performance contribute to premium calculation. Continued high frequency of claims and costs will still negatively impact an employer’s premium rate.

Due to their improving safety performance, industries such as mining, utilities (e.g. electricity), finance and insurance services, and manufacturing will benefit most from the reduction in the average premium rate.

The table below provides an overview of the WIC rate reductions. More detailed information on specific WIC rates is available in the Gazette.
 

IndustryReductionIndustryReduction
Accommodation and Food Services-17.1%Labour hire-7.2%
Administrative and Support Services-12.5%Manufacturing-18.3%
Agriculture, Forestry and Fishing-13.8%Mining-22.4%
Arts and Recreation Services-15.5%Other Services-16.7%
Construction-17.0%Professional, Scientific and Technical Services-16.8%
Education and Training-9.0%Public Administration and Safety-13.9%
Electricity, Gas, Water and Waste Services-19.5%Rental, Hiring and Real Estate Services-15.9%
Financial and Insurance Services-19.5%Retail Trade-15.3%
Health Care and Social Assistance-16.4%Transport, Postal and Warehousing-14.0%
Information Media and Telecommunications-16.7%Wholesale Trade-18.0%

  
We are updating our premium simulator with the new 2014–2015 rates. From next week, if you’re registered for Employer online, you will be able to estimate your premium. We will update our Employer online customers as soon as it is available.

For more information on Employer online including registration details, read our FAQs.

If you have any questions about your WIC or premium rate contact your relationship manager or call us on 1300 362 128.
 

Last updated
30 June 2015

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