New Victorian Safety Records Show Injuries Reach a Record Low

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According to the half-yearly results released recently by WorkSafe Victoria, injuries occurring in Victorian workplaces have reached a new record low.

As of December 31st 2014, 7.32 claims per million hours worked (MHW) were recorded for the previous six months. This is an improvement on the 7.37 claims per MHW recorded a year ago.

Victoria leads in workplace safety

In an address to stakeholders that included employer groups, unions and peak body associations, a WorkSafe Victoria executive said that Victorian workers and employers have demonstrated that Victoria is leading the way in Australian workplace safety.

These results show that by making further improvements to Victorian safety, it has made a clear difference in the latest half-yearly results. The executive pointed out that this is a credit to Victorian workplaces and their continued efforts in making a culture of safety a top priority.

The Victorian Finance Minister highlighted the need for more improvements to safety within the workplace. He said that although workers in Victoria are safer than ever, far too many people have been seriously injured or killed. Another important item he noted is the need to do more to support injured workers who have not been able to return to work.

Worksafe financials

Workplace injury insurance protection for Victorian workers and employers relies on maintaining a healthy balance sheet and a scheme that has an efficient cost structure.

WorkSafe recorded a $94 million Performance from Insurance Operations (PFIO) result, and a $104 million net result after tax. The key drivers that influenced the financial results of the PFIO are strong markets, a higher than forecast increase in liabilities as well as the currently prevailing economic conditions.

These results show that WorkSafe remains in a good position to deliver on its objectives.

A summary of the half-yearly results show the following figures for 2014/2015, as at 31 December 2014:

  1. Performance from insurance operations is $94 million
  2. Actuarial release is -$98 million
  3. Net result after tax is $104 million
  4. A funding ration of 116 percent
  5. The average charged premium is 1.272 percent

 

Make your workplace safer

Sitecraft supplies a range of products and equipment designed to improve safety in the workplace. Some of the ways in which we could help your operation are:

  1. Protect staff from machinery by using pedestrian segregation barriers.
  2. If your business involves handling large numbers of people, particularly members of the public, you may need to invest in pedestrian controls and retractor barriers.
  3. Blind spots can be hazardous. Our range of flexible, adjustable industrial mirrors can enhance safety by improving visibility.
  4. Signs are very good at alerting people to a variety of potential dangers in worksites. Place danger signs where there is a risk to personnel. This includes caution signs and injury prevention signs, such as a reminder to bend the knees when lifting.
  5. Barrier tape is another effective way to keep people out of dangerous areas, as are floor graphics.

 

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