SIRA releases workers’ compensation data for March
It reveals how much insurers collect annually…
SIRA releases workers’ compensation data for March
INSURANCE NEWS
By Roxanne Libatique
19 Jun 2021

The New South Wales (NSW) State Insurance Regulatory Authority (SIRA) has released its workers’ compensation data for March 2021, revealing a total of $392.8 million claims payments made during the month.

Weekly payments accounted for 41.5% of the total, medical for 23.1%, common law for 14.6%, sections 66 and 67 for 4.9%, rehab treatment for 4.4%, legal for 3.2%, investigation for 2.2%, death payments for 1.8%, recoveries and refunds for 1.7%, other payments for 1.1%, commutations for 0.8%, SIRA-funded programs for 0.1%, and sections 64C and 64B for 0.0%.

Overall, from the $392.8 million total, 1.4% of reported NSW wages went to premiums. The industry also reported 9,991 claims and 65% of workers returning to work at four weeks.

Annually, insurers collected a total of $4.14 billion premiums. They also paid 72% of expenditure to and for workers from 2018 to 2019.

SIRA found that upper limbs (33.5%) were the most common bodily location of workers’ injuries, followed by the lower limbs (20.7%), trunk (18.9%), head (10.0%), mental health (8.7%), multiple locations (2.8%), neck (2.4%), unconfirmed (1.8%), and systematic locations (1.1%).

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