Loss Prevention and Recovery Products

If you're a large employer you may be eligible to apply for one of the 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.

Who is eligible

LPR Product

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 2024-25 LPR policies

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

LPR Plus Product

New in 2024-25, Loss Prevention and Recovery (LPR) Plus is:

  • different to icare's standard products available to all employers, 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.
  • available for an employer to express interest if their APP exceeds $3,000,000 for a 12-month period of insurance, or if they are a member of a group where Group APP exceeds $3,000,000.

Download cost of claims definition 2024-25 LPR Plus policies

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

Related downloads

Tagged in: