Q. How can I reduce my workers’ compensation premium?
Managing Director of Aurenda: For a small to medium sized organisation (SME), your premium is based on the gazette rate, which is set by WorkCover. The government sets a rate according to the industry you operate in. For example it may be that your industry on average pays 5% of wages in workers compensation. That 5% becomes your premium. If you have a good broker, within that, they may negotiate a claims experience discount (CED) where you may get up to 15% of the premium back if you either have no injuries or if you manage them really well.
Aurenda Client Service Manager: Contact Aurenda immediately on (08) 6389 8900 and we can advise you on how to implement best-practice injury management processes to reduce the cost of claims, which will lead to reduced premiums.