WorkSafeNB announces 2012 assessment rates

Average assessment rate in New Brunswick to decrease 15 per cent
|payroll-reporter.com|Last Updated: 10/21/2011

WorkSafeNB announced a 15 per cent decrease in the average assessment rate for employers in New Brunsiwck for 2012.

A strong funded position and decreasing claims costs warranted an average rate reduction of 30 cents, from $2 per $100 of payroll in 2011, to $1.70, according to the organization. The minimum assessment rate will also be reduced, from 32 cents per $100 of payroll to 28 cents.

The organization attained a fully-funded level of 111.5 per cent, according to WorkSafeNB. The rate reduction will see assessed premiums for about 13,700 employer operations either drop or remain stable in 2012.

In 2010, WorkSafeNB met its targets for both duration and frequency of lost-time claims.

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