Revamping burning cost premiums

WorkCover NSW is asking for feedback on the introduction of a more responsive burning cost premium model that offers large employers a basic tariff premium of more than $1 million.

The discussion paper proposes a model of how the burning cost premium model could operate. Following analysis of feedback on this paper, a more refined model will be presented to a further series of focus groups.

Workcover is trying to develop a system that could be more responsive to the needs of the state’s largest employers and might include: variable large claim caps, variable maximum premium caps, variable large excesses and multiple hindsight adjustments.

To view the discussion paper and details on making submissions, visit the Workcover NSW website. All written submissions must be sent to WorkCover by 5 pm on Friday 11 July 2008.