Workers’ compensation premium rates on hold
May 24, 2020
In line with the NSW Government’s priorities to stimulate the economy and get NSW workers back into jobs as we recover from the impacts of COVID-19, premium rate changes have been put on hold.
With a large proportion of policy renewals going out over the coming weeks, members can expect their premium notices to show that their premium rates remain unchanged, except where their premium has been impacted by their claims performance and/or any change in their wages.
This is one of the ways icare is supporting businesses as they deal with the impacts of COVID-19, one that icare hope will bring welcome relief across all industries, particularly those most impacted by social distancing measures such as construction, hospitality and retail.
icare would like to remind employers who are impacted by COVID-19 to reach out to icare to discuss the support available to them, such as reducing their wages to reduce their premium.
Find out more about premiums, as well as support available to members during COVID-19, by visiting the icare website