Aurenda has been the leader in injury management for ten years and we have seen some interesting changes over that time.
In 2002 the average workers compensation premium rate in Australia was 2.6% of wage roll, compared to 1.6% in 2012 (WorkCover WA).
Average weekly earnings, however, were $697 in 2002 compared to $1526 in 2012 (Australian Bureau of Statistics “ABS”).
This means that if you employed the same 500 people in 2002 as in 2012, your premium would have increased from $470k to $635k. So, you will have to hand over 40% more money and it will be presented as a good news story – maybe some things never change!