If your base tariff premium is less than $3,000, the only increase in premium will be as a result of an increase in your base premium rate. This rate will increase if the costs of claims in your industry have risen. To reduce this base rate, the costs of claims must improve across your industry.
If your base tariff premium is greater than $3,000 and you have claims, the impact of those claims (as a result of the F factors) will depend on the extent to which your premium is experience-based. Generally, the bigger your business (in terms of wages paid to workers), the more your own experience counts relative to industry experience.
If your base tariff premium is between $3,000 and $112,000, any increase is limited to twice the level of your basic tariff premium.