The yearly results for the Victorian WorkCover Authority show that there is plenty of scope for even further premium reductions for employers in the next State Budget.

The results for the 2005/06 financial year show a net profit of $1 billion, with profit from insurance operations at $476 million.

“The Victorian WorkCover Authority, together with employers and employees, have created a virtuous circle of improved safety, better claims management, operational profitability, reduced premiums and improved business competitiveness”, says VECCI Chief Executive Officer, Mr Neil Coulson.

“This has been achieved by sensibly working together to create win-wins, leading to a situation where, after three successive cuts in the average premium rate, there is still scope for reduced premiums.

“This can be even further underpinned by working co-operatively towards better safety outcomes over coming years”, says Mr Coulson.

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VECCI Strategic Communications
Ph:      (03) 8662 5226
email: media@vecci.org.au