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your new renewal form

If you’re an employer, this three-step guide to the new renewal form will help simplify the task of renewing your insurance.

There’s a new, easy-to-use workers compensation insurance renewal form for experience-rated businesses.

The new renewal form outlines in three easy steps how premiums are calculated. The form also clearly shows how premiums can be reduced through improved performance and various rewards and incentives. The three sections of the form are:

  1. Your average performance premium
  2. Your Employer Safety Incentive
  3. Your claims performance

An example of a new premium renewal form.

1. Your average performance premium

The Average Performance Premium (APP) is the starting point for all employers. It’s calculated using an employer’s wages and applicable Workers Compensation Industry Classification (WIC) rate – that is, the risk attached to your industry.

2. Your Employer Safety Incentive

The Employer Safety Incentive (ESI) is a premium discount to encourage employers to invest in safety and support systems. The best way to reduce lost time through injuries is to invest in increasing workplace safety. In addition, the Employer Safety Reward (ESR) is available to all employers who maintain a safe workplace and have not incurred any premium-impacting claims for four consecutive years. This reward is an additional discount off the Average Performance Premium which is delivered at the end of the policy year.

3. Your claims performance

The Claims Performance Rate (CPR) will reward employers by discounting their premium if they have a good record of managing worker safety and return to work over the previous three years.

The Return to Work Incentive (RTWI) is a new incentive that rewards employers who proactively provide injured workers with sustainable return to work. It applies to claims made after 30 June 2015. The table below shows how it is applied.





Return time

0 – less than 13 weeks

13 – less than 26 weeks

26 – less than 52 weeks

Calculating risk

Risk is calculated by benchmarking an employer’s performance against all businesses in the workers compensation scheme. This sample risk performance gauge shows how performance can impact premiums to indicate a minimum and maximum.

Sample gauge

Reducing your premium

As an employer, you can reduce your premium by improving safety and proactively providing injured workers with a sustainable return to work. These measures will be clearly shown under ‘Your Claims Performance’ on the new renewal form.

All employers will benefit if the scheme average is improved through better performance across the board – premiums come down as risk is reduced.