Overview

All covered: Stronger investment returns in the current year are expected to boost revenue

IBISWorld’s Employers' Liability Insurance market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

REPORT SNAPSHOT

Industry Analysis & Industry Trends

The Employers' Liability Insurance industry's main role is to assist employees recovering from workplace incidents by organising medical benefits and workers' compensation schemes. The largest employers' liability insurers are the statutory authorities of the state governments. As employers' liability insurance is mandatory for many businesses, premium revenue is influenced by the number of employees in the labour force and is linked to employees' remuneration. While this is a stable and comparatively predictable driver for industry revenue, investment income is a less certain component. In normal trading conditions, investment income can contribute up to 20% of industry revenue and in some instances, up to 40% for certain entities...

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What is the Employers' Liability Insurance industry?

The Employers' Liability Insurance industry has traditionally been characterised by a strong focus on physical workplace injury-related claims, although psychological workplace injury-related claims have become more common over the past five years. Other employers' liability insurance claims include permanent impairment and injuries occurring from long-term effects. These claims cover employees during working hours, including break times, for injury and harm directly or indirectly resulting from employment. The industry accounts for both statutory claims for all costs related to the injury and common law claims, which are hidden costs arising from associated claims...

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Additional Insights for the Employers' Liability Insurance Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Employers' Liability Insurance Industry are

  • Ability to effectively manage risk
  • Management of a high quality assets portfolio
  • Well developed internal processes
  • IBISWorld analysts also discuss how external factors such as year bond rate and All Ordinaries index in the Employers' Liability Insurance industry impact industry performance..

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    New Zealand Special Report

    Products & Brands

    Major products in this industry
    Insurance for physical workplace injury
    Insurance for psychological workplace injury
    Insurance for long-term effects
    Examples of brands in this Industry
    icare
    WorkSafe Victoria

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • year bond rate
  • All Ordinaries index
  • Average weekly earnings
  • Work accident rate per 1,000 employees
  • Total number of non-manual employees in the workforce

  • Current Performance
  • Investment volatility
  • Low interest rates
  • Employment and safety
  • Self-insurance
  • Chart: Revenue Growth

  • Industry Outlook
  • Investment returns
  • Legislation changes
  • Table: Employers' Liability Insurance Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Employers' Liability Insurance Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Agriculture, Forestry and Fishing
  • Mining
  • Construction
  • Professional, Scientific and Technical Services

  • Key Selling Industries
  • Funds Management Services
  • Insurance Brokerage
  • Office Property Operators

  • Products & Services
  • Insurance for physical workplace injury
  • Insurance for long-term effects
  • Insurance for psychological workplace injury
  • Other
  • Chart: Employers' Liability Insurance Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Agriculture, mining, manufacturing and construction companies
  • Services firms
  • Other
  • Commercial trade
  • Chart: Major Market Segmentation for the Employers' Liability Insurance Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Claims
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Employers' Liability Insurance

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Employers' Liability Insurance Industry

  • Industry Globalization
    Major Companies
    Insurance and Care NSWVictorian WorkCover AuthorityWorkCover QueenslandReturn To Work Corporation of South Australia
  • Table: Insurance and Care NSW - financial performance
  • Table: Victorian WorkCover Authority - financial performance
  • Table: WorkCover Queensland - financial performance
  • Table: Return To Work Corporation of South Australia - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Employers' Liability Insurance Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Employers' Liability Insurance Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Employers' Liability
  • The liability that employers have towards their employees during the time employed. Refers to workers' compensation.
  • Self-Insurers
  • Typically large companies registered with APRA and approved by their respective state regulatory bodies to issue their own workers' compensation insurance.
  • Workcover Authority
  • The state-owned regulator and often the underwriter of workers' compensation insurance in many states. Sets levels of premium and grants approval for third party underwriters.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
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    This report on Employers' Liability Insurance:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Employers' Liability Insurance market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Employers' Liability Insurance, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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