Schedule 4 Claims adjustment factor

Schedule 4 Claims adjustment factor

(Schedule 1, clause 2 and Schedule 2, clause 6)

General

The claims adjustment factor for an employer (“V”) (or for a group (“VG”)) at the adjustment date set out in Column 1 of the Table to this clause is, if the employer has (or all the members of the group of employers of which the employer is a member have) elected a large claim limit for the purposes of clause 137 (5) of Workers Compensation Regulation 2003 of:

(a) $350,000—the factor set out in Column 2 of the Table corresponding to that date, and

(b) $500,000—the factor set out in Column 3 of the Table corresponding to that date.

Table

| Column 1 | Column 2 | Column 3 | | Adjustment date | Adjustment factor “V” (or “VG”) for $350,000 large claim limit | Adjustment factor “V” (or “VG”) for $500,000 large claim limit | | First adjustment date (being commencement of policy period plus 15 months) | 3.05 | 2.95 | | Second adjustment date (being commencement of policy period plus 24 months) | 2.10 | 2.00 | | Third adjustment date (being commencement of policy period plus 36 months) | 1.80 | 1.70 | | Fourth adjustment date (being commencement of policy period plus 48 months) | 1.75 | 1.67 | | Fifth adjustment date (being commencement of policy period plus 60 months) | 1.75 | 1.67 |