Renew your Workers Insurance policy
Whether you are a small or an experience-rated employer, your policy will renew automatically.
If you haven't cancelled your policy it will renew automatically and you will continue to be covered.
icare will take care of most of the paperwork for you, and we'll send you an invitation to renew your policy prior to the policy expiry date. Contact icare on 13 44 22 if you need to update your details.
Calculating your premium
We will use the wage information we already have on your business to calculate your premiums plus a percentage increase for the wage price index. If you are experience-rated, we will also take into account your last three years of claims costs.
You should update your estimated wages via our website if:
- you employ an apprentice
- you are a small employer and expect your wages to differ by 25 per cent or more; or
- you are experience-rated and expect your wages to differ by 15 per cent or more.
Renewal premium information packs
icare will send you a renewal pack containing information confirming your policy renewal including a Declaration of Actual Wages form and payment options.
Your tax invoice and premium calculation shows what you need to pay for the next 12 months.
Renewing your policy
Small employers
Your renewal pack will be sent to you 6 weeks prior to your renewal date. The pack will include a renewal calculation to show how your premium is calculated, how to pay and a certificate or currency.
You will also be able to use this pack to log into our self-service portal to update wages for the current period or submit actual wages for the period set to expire.
Your policy renewal explained
Watch this video to know what to expect from your icare workers insurance policy renewal.
Experience-rated employers
Your premium document pack will be sent after your policy renewal date. Prior to renewal you can still expect to receive a letter from us which outlines the next steps and includes a certificate of currency.
You will be able to log into our self-service portal once you have received this information and update your estimated wages to ensure they are accurate for the up-and-coming renewal.
Learn more about your renewal pack (PDF, 0.9 MB)Declaration of actual wages
To help calculate your premiums, you need to declare annual wages once a year.
If you do not submit your actual wages your renewal wages for the next policy period may be loaded by an extra 30%. You will be unable to amend the renewal wages until the actual wages have been submitted.
