Financial and Insurance Services industry snapshot 2017

The workforce

This industry grouping covers a wide range of activities, separated into nine groups

  • Central banking
  • Depository financial intermediation
  • Auxiliary finance and investment services
  • Health and general insurance
  • Auxiliary insurance services
  • Superannuation funds
  • Non-depository financing
  • Financial asset investing
  • Life insurance

2% of the total Tasmanian workforce

78% work full time

38% workers are aged 25-34

The injuries

38 injuries across the industry in 2017

34% of injuries in the last ten years resulted in at least one week off work

1.4 serious injuries per million hours worked, 82% lower than the state average of 7.9

22% decrease in serious injury frequency rate in the last ten years

Well below state average serious injury frequency rate each year

The people

55-64 year olds have the highest serious injury frequency rate

Auxiliary insurance services have the highest serious injury frequency rate at 3 serious injuries per million hours worked

52% of serious injuries were reported by Financial and Insurance Clerks

The causes

The most common causes of injury across the industry

  • Body stressing
  • Falls, slips and trips
  • Mental stress
  • 66% of all serious injuries in 2017 were caused by mental stress

Action areas

Priority conditions and causes identified in the WorkSafe Strategic Plan 2018-2023 relevant to the industry:

  • Mental health conditions
  • Musculoskeletal disorders
  • Hazardous manual tasks
  • Slips, trips and falls