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Victoria has Australia's safest workplaces |
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MELBOURNE, Victoria, Australia
The Victorian Work Cover Authority (VWA) says its latest financial and operational results helped Victoria maintain its status as having Australia’s safest workplaces.
“Once again we’ve returned strong results showing Victoria is now a safer, more cost-effective place to work and do business,” VWA chair Elana Rubin said.
“The turnaround in workplace safety, premiums and support for injured workers has only been achieved because of strong partnerships we’ve built with stakeholders and the community.”
VWA’s half-year financial results showed improved management of workers’ compensation claims had resulted in a strong performance from insurance operations (AUD331 million).
VWA reduced long-term claims costs by AUD139 million, adding to the almost AUD1.5 billion reduction since 2001/02.
“The results reflect the impact of the market environment, with more than AUD885 million coming in from investments, driving a net profit of AUD675 million and taking the VWA’s funding positioning to a historic high of 128 per cent, up from 115 per cent on the previous half-year,” Rubin said.
According to VWA, other improvements for the six months to December 31, 2006, included the lowest ever injury rate, lowest ever average premium rate of 1.62 per cent of payroll, the introduction of improved benefits for workers, and increased satisfaction among injured workers and employers. Source: © Forkliftaction.com – materials handling newsletter – 25-01-2007 
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