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payment dates

Payment dates depend on when you start your policy. If your basic tariff premium is greater than $1000, you can pay by instalments.

The option to pay your premium by instalments depends on your basic tariff premium.

Initial premium

If your tariff premium is between $1,000 and $5,000, you have the option to pay it in quarterly instalments.

If your tariff premium is more than $5,000, you can choose to pay it in monthly or quarterly instalments.

End of period premium adjustments

If your end of period adjustment is more than $1,000, you can pay it in three equal monthly instalments.

icare or your insurance agent will provide a schedule of instalments with your renewal/premium calculation notice.

If you miss an instalment or are having difficulty paying your premium, you should immediately contact your insurer to discuss what payment options are available.

Late Payment Fees

Insurance agents can charge employers a late payment fee, which is compounded monthly on the outstanding balance at the end of each month, at the rate prescribed by the State Insurance Regulatory Authority in the Workers Compensation Market Practice and Premium Guidelines, refer to the Insurer guidance material for more information.

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