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How premiums are calculated

A premium is the amount an employer is required to pay Comcare for workers’ compensation insurance. Premiums fully fund the forecasted cost of claims from injuries and diseases occurring that year, including Comcare's claims management costs.

Your Guide to Premiums 2016–17 [PDF,2.4MB] provides an overview of the premium setting process. The Guide to Premiums for previous years are also available.

The Framework for Setting Premiums [PDF,170KB] describes how Comcare’s CEO determines the premiums payable by each agency. The Framework for Setting Premiums for previous years are also available.

Comcare ensures it's calculation of premiums is sound and uses independent actuaries to assess liabilities and determine premiums.

Premium Pool outcomes provide the total premium to be charged across all agencies for forecasted injuries and diseases sustained in each premium year:

In April 2016 Comcare delivered presentations to agencies on the premium pool and the revised premium model.

Page last updated: 07 Feb 2017