The average rate will increase by 8%
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- This increase is line with a Direction Notice issued in May 2023, capping the average rate of increase at 8% per annum for 3 consecutive years.
- For 2025-26 the average rate increase of 8% is the third and final under this direction notice.
- Key drivers of the premium rate increase include:
- an increase in psychological claim volumes, weekly benefits and medical costs.
- a growing number of claims reaching higher whole
person impairment (WPI) levels.
https://www.icare.nsw.gov.au/employers/premiums/premium-updates