There won’t be an increase in WorkCover premiums for Victorian businesses in the next financial year.
The state government announced on May 27 that the average premium will remain at 1.8 per cent for a third consecutive year, while continuing to strengthen support for workers to get back to health and work.
Last financial year, WorkSafe provided $3.4 billion in tailored support to more than 104,000 injured workers while helping more than 26,000 injured workers to return to safe and sustainable work.
The average premium rate has remained unchanged since the 2023-24 financial year, when the government introduced reforms to the WorkCover scheme.
Deputy Premier and WorkSafe Minister Ben Carroll said WorkCover was about giving workers and businesses peace of mind and helping them through tough times.
“We’ve strengthened the scheme so it can continue to deliver on that promise,” Mr Carroll said.
“We are taking a balanced approach to ensuring the long-term viability of Victoria’s workers compensation scheme and passing on the benefits directly to workers and employers.”
While the average premium rate will remain steady for 2025-26, individual premiums for Victorian employers are determined by factors that can vary from year to year, such as how much they pay their workforce and their own claims history.
Individual premiums are also based on more than 500 specific industry rates, which are set annually based on how dangerous that particular sector has been compared with other industries in recent years.
For more information, visit: worksafe.vic.gov.au/insurance
