Anytime workplace injury claims go down, that is a positive thing.
As of Dec. 31, 2014 there were 7.32 claims per million hours worked (MHW) in Victorian (Australia) workplaces, a reduction on the 7.37 claims per MHW recorded at the end of 2013/14.
The results were released to key stakeholders by Finance Minister Robin Scott MP, acting chair John Walter and acting chief executive Clare Amies at a briefing at the State Library of Victoria.
In his address to stakeholders representing unions, employer groups and peak body associations Scott highlighted the need for further improvements in workplace safety.
“Generally workers in Victoria are safer than they have ever been, but still too many have been killed or seriously injured,” Scott said. “And when it comes to support for those injured workers who have been unable to return to work, we must do more to get them back to work.”
Workplace Safety Regulator in Sustainable Spot
Amies said that the workplace safety regulator remains in a financially sustainable position.
“WorkSafe recorded a performance from insurance operations (PFIO) result of $94 million and a net result after tax of $104 million,” she said. “The financial results have been influenced by strong markets, prevailing economic conditions and a higher than forecast increase in liabilities.”
According to Amies, the increase in forecast liabilities was a key driver of the PFIO result.
“Our ability to provide quality workplace injury insurance protection for Victorian employers and workers relies on maintaining a scheme with an efficient cost structure and a healthy balance sheet,” she said.“And we want to ensure that premiums remain competitive with other jurisdictions.These results tell us WorkSafe is still in a very good position to deliver on those objectives.”
Amies said Victorian workers and employers had once again demonstrated that Victoria is leading the way in workplace safety.
Amies also noted that“Our aim is for Victoria to maintain the best workplace safety and workplace injury insurance scheme in the country, and so far we have made excellent progress towards those targets.”
Author Kori Shafer-Stack, Editor, Amaxx Risk Solutions, Inc. is an expert in post-injury response procedures and part of the Amaxx team helping companies reduce their workers compensation costs by 20% to 50%. www.reduceyourworkerscomp.com. Contact: kstack@reduceyourworkerscomp.com.
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