Allianz workers' compensation claims costs relating to mental health2 – or primary psychological workers' compensation claims (refers to injuries caused by mental health complications of a work environment) – have increased by 80 per cent, rising an average of 22 per cent year-on-year, since 20173. The findings are part of the new report, which has also revealed an overwhelming 80 per cent of the Australian employees surveyed are now calling on their employers to take action to address mental health in the workplace.
The Allianz Future Thriving Workplaces findings illustrate the long-term impact mental health conditions can have on individuals’ holistic wellbeing. The report has found benefits paid to primary psychological injury claims are on average, up to four times higher per annum than for claims relating to physical injuries, and on average take far longer to recover from than physical injuries, with nearly 75 per cent of primary psychological claims experiencing time off work, compared to only 50 per cent of physical injuries4. SafeWork Australia data shows $543 million was paid in workers' compensation for work-related mental health conditions5, highlighting the scale of the issue and reinforcing the importance of employers proactively addressing employees’ mental health.