Manufacturing News

Online tool to calculate workers compensation costs

WorkCover NSW has announced an innovative new online tool to help businesses estimate annual workers compensation costs.

According to WorkCover, the Premium Estimator it is based on a similar concept to the Motor Accident Authority’s Green Slip Calculator.

The system enables employers to estimate workers compensation premium.

WorkCover NSW CEO, Lisa Hunt said the Premium Estimator was designed to provide a service to employers efficiently online.

“The Premium Estimator makes it easier for start-ups, businesses looking to diversify or those looking to expand, to check their workers compensation premium and is part of WorkCover’s customer-focused approach to helping NSW employers,”
said Hunt.

Businesses can identify WorkCover Industry Classification using the Premium Estimator, to assist in understanding workers compensation premiums.

General manager at Workplace Solutions at the NSW Business Chamber, Greg Pattison said the Premium Estimator was an important step in improving business understanding of workers compensation.

“Providing a simple tool which estimates workers compensation premiums can help employers understand what is happening with their premiums and why, and we will be encouraging our members to use it.”

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