If you're an employer, your workers compensation insurance premium is determined by a number of factors.
These factors include:
- the industry you operate in
- the amount of wages you pay to your workers
- the costs of any claims made by your workers (medium and large employers only)
- any incentives, discounts or premium adjustments
Working with Asbestos – your responsibilities
Employers who have workers engaged in activities involving asbestos may be liable for additional premiums.
As an employer, you must inform your insurance agent whether any of your workers are involved in handling, processing or manufacture any asbestos-containing products.
It’s a legal requirement for the controller of premises to identify all asbestos-containing materials within a workplace, and record these materials in an asbestos register. A special dust diseases premium adjustment will be applied to the wages of employees exposed to asbestos or who are involved in asbestos handling.