Ontario Construction News staff writer
The Workplace Safety and Insurance Board (WSIB) is holding its average premium rate for Ontario businesses steady for 2024 at $1.30 for every $100 of insurance payroll.
“Under the leadership of Premier Ford, the WSIB has cut the average premium rate for safe employers in half, allowing more businesses to reinvest in the economy and their workers,” said David Piccini, Minister of Labour, Immigration, Training and Skills Development. “While keeping rates at a historic 20-year low, our government will continue to bring generational change to the WSIB to deliver better services for the injured workers and businesses who rely on it.”
In the last year, the WSIB provided a 6.5 per cent cost of living increase to people receiving income replacement benefits and is also extending incentives for smaller businesses enrolled in its Health and Safety Excellence program through to December 31, 2024. Small businesses can now benefit from double rebates for every topic completed in the program, plus an additional $1,000 towards implementing a health and safety program.
“We were able to hold the line on premium rates in 2024 and will continue to improve our services and results,” said Jeff Lang, President and CEO of the WSIB. “We are also continuing with incentives to small businesses to reduce injuries from happening in the first place.”
Last month, Ontario announced the relocation of the WSIB head office to London and the selection of the new location at 300 Tartan Dr. The move is expected to bring a $100 million boost to the London area and comes as the agency renews its focus on increasing support for injured workers and improving services to businesses.
The Saskatchewan Workers Compensation Board (WCB) is also maintaining rates – at $1.28 per $100 of payroll rate for 2024.
“The WCB aims to uphold a balance between stable rates and a fully funded compensation system,” said Gord Dobrowolsky, WCB chair. “Claim costs and payroll are the two key drivers of the 2024 average preliminary premium rate. We are forecasting total costs will continue to increase next year, however they are expected to be offset by rising employer payroll. As a result, we are proposing the 2024 average preliminary premium rate to remain at $1.28.”
While the average employer rate will hold steady, industry premium rates for approximately 35% of Saskatchewan’s employers covered by the WCB will increase next year. Meanwhile, industry premium rates for approximately 65% of employers covered by the WCB will see a decrease or no change for 2024.
“While we are not proposing a change to the 2024 average preliminary premium rate, we are expecting long-term upward pressure on premium rates,” said Phillip Germain, WCB CEO. “Reducing the number of serious injuries and fatalities across the province will help to minimize the impact of factors pushing premium rates upward.”