Big changes coming to WSIB premiums

As of 2020, Ontario’s board will have implemented new rate-setting structure
By Sheila Brawn
|Canadian Payroll Reporter|Last Updated: 11/01/2017
WSIB
The Ontario Workplace Safety and Insurance Board will implement changes in an effort to make its system easier for employers to understand. Shutterstock

Big changes are coming to the way the Ontario Workplace Safety and Insurance Board (WSIB) classifies Schedule 1 employers and sets and adjusts their premium rates.

Beginning in 2020, the board will implement what it calls an innovative new framework that will make the rate-setting process more transparent and better align employer premium rates with the actual costs of the workers’ compensation system.

The changes will make the system easier for employers to understand, according to Sean Baird, vice-president of employer services at the WSIB.