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Opportunity to Reduce Workers Compensation Premiums

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If your payroll is over $5M, you may have an opportunity to reduce your workers compensation premiums and add significant dollars to your bottom line.

Do you prequalify to reduce your workers compensation premium? Let’s check your workers compensation premium bill you most likely received early July.

VIC – Page 3 of your workers compensation bill will highlight if you prequalify. If your “performance rating” is over “1” we may be able to help you reduce your premium. If your rating is under 1 you are doing well.

NSW – Your workers compensation bill provides a performance graph that indicates how you are performing against the scheme. If your “claims performance” arrow skews to the right of the “Scheme Average” we may be able to help you reduce your premium. If you are significantly under the Scheme Average you are doing well.

SA – Your workers compensation bill provides a breakdown of the calculation used in your premium renewal. If you have high “C – Cost of Claims” we may be able to help you reduce your premium. If your cost of claims is low you are doing well.

QLD, NT, WA, TAS, ACT – If you have high claims costs we may be able to help you reduce your premium. If you have nil claims costs you are doing very well.

The Gallagher Workplace Risk difference:  Our effective approach in the prevention and resolution of workers compensation claims means that on average our clients save 50% on their workers compensation premiums. If your organisation has outstanding workers compensation claims, we act on your behalf as an employer advocate to achieve resolution. Our team applies our expertise to proactively improve the culture, performance, and wellbeing of your people and your organisation.