Industry classifications and rates
The South Australian Industry Classifications (SAIC) align our industry-based classification system with the Australian and New Zealand Standard Industrial Classification (ANZSIC) 2006 ensuring:
- a modern classification system that reflects the changes and evolution in the structure and composition of industry over time
- we align with national workers' compensation harmonisation objectives
- a detailed description of all 528 industries is available.
We use SAIC, an industry based classification system, to assign an appropriate classification for each employer location, based on predominant business activity.
Each SAIC has a corresponding industry premium rate, which is calculated each year using the claims cost performance of all businesses classified in that industry. An industry premium rate is not necessarily linked to the perceived risk involved for workers in that industry – it is linked to actual claims experience.
At the end of each financial year, we provide all employers with an Industry Premium Rate Schedule that details industry premium rate/s specific to their business as well as their SAICs. It is important to advise us of any changes to your business activity as this may lead to a change to your classification and a change to your industry premium rate.
If you believe the industry classification applied to you does not reflect your predominant business activity, please call us on 13 18 55.