As an employer, the amount you pay for workers' compensation insurance is not a flat fee but a calculated business expense determined by your total annual payroll multiplied by your industry's designated risk classification rate, modified by your company's safety and claims record. Businesses cannot shop around in an open free market in most Australian states since schemes are centrally run or managed through licensed government agents, meaning the best way to lower your mandatory payment is to maintain rigorous workplace health and safety standards to minimize injuries.
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