You would have recently received your 2011/12 Workers’ Compensation Premium Statement from your WorkCover Insurance Agent. WorkCover is typically the second largest labour cost for organisations and needs strategic management at the Executive level.

Many organisations fail to realise that their WorkCover Premium is a variable insurance cost that can be reduced below their industry rate.  Just one workplace injury can impact on your WorkSafe premium and cause a significant increase.

As reported on the WorkSafe Victoria Website, for the calculation of 2011/12 premiums, claims reported between 1 January 2008 and 31 December 2010 are used to determine your experience. This period is referred to as the “Claims Reporting Period”. Claims reported after 31 December 2010 have not been used in the premium calculation for 2011/12. However, these claims will form part of your experience and consequently affect your premium in the future.

P2 Group customers, please send a copy of your Worker’s compensation premium renewal to our office by fax (03) 9818 8916 or email  james.kydas@p2group.com.au for our records.  If you are a client of P2 Group, we will assess if you achieved your worker’s compensation forecast. If you are not a client of P2 Group, we welcome you to send your bill for an independent and confidential review.

Please do not hesitate to contact James Kydas or Paul Marsh at P2 Group (03) 9818 8914 if you have any queries or require assistance with this matter.

Please also confirm if all your active workplaces are registered on your WorkCover policy and inform us if any worksites were registered or ceased this financial year.

Our mission remains clear – by providing unsurpassed return for your investment and supplying independent expert advice, P2 Group aim to be the first choice WorkCover consultants.