Loss Prevention and Recovery (LPR) Products

Large employers have the option to choose between an experience-rated premium model, or a loss prevention and recovery (LPR) product. LPR uses an alternative method of calculating premiums and provides incentives to improve workplace safety.

Employers can access more immediate financial rewards for active loss prevention and recovery at work solutions compared to the conventional model of premium calculation.

From 2025-26, an enhanced formula will be introduced to the calculation of LPR minimum premium. This means employers with the best health and safety performance, that reach the minimum premium limit, will pay lower minimum premiums to better reflect their risk.

For further information contact icare's Underwriting team on 13 44 22 or via Live Chat.

Who is eligible

Loss Prevention Recovery

You are eligible for the LPR product if:

• your average performance premium exceeds $500,000 for a 12-month period of insurance (this can be pro-rated for shorter periods of insurance), or
• you are member of a group of which at least one member’s average performance premium exceeds $500,000.

Submit the Expression of Interest (EOI) form (PDF, 0.5 MB) 

You will then need to complete a single Application and Renewal form (PDF, 0.6MB) to renew your policy that combines three elements:

1. Your application
2. Declaration of estimated wages.
3. A self-assessment of your Work Health and Safety (WHS) and Return To Work (RTW) programs. This same form is used for each renewal.

Download cost of claims definition LPR policies

Contact CIS@icare.nsw.gov.au or your dedicated Insurance Specialist to obtain the form.

LPR Plus Product

• designed to meet the needs of the largest and most sophisticated employers in the workers compensation scheme with an Average Performance Premium (APP) greater than $3 million.
• LPR Plus rewards large employers that can demonstrate stable and favourable claims performance through focus on injury prevention, return to work and claims cost control by calculating premiums that are reflective of an employer’s risk profile.
• employers can express interest in LPR Plus if their APP exceeds $3,000,000 for a 12-month period of insurance, or if they are a member of a group where the Group APP exceeds $3,000,000.

Download cost of claims definition LPR Plus policies

Contact CIS@icare.nsw.gov.au or your dedicated Insurance Specialist to obtain details.