The Workplace Safety and Insurance Board (WSIB) announced that it will not increase premium rates in 2016.
"Our Board of Directors made a decision to keep rates at current levels based on careful actuarial and financial analysis," said Elizabeth Witmer, Chair of the WSIB. "It provides stability for employers as the WSIB reviews its rate setting methodologies in consultation with stakeholders to come up with the fairest and most effective solutions."
With minor exceptions, this is the third consecutive year that employers have not seen an increase in premium rates.
The WSIB say injured workers and employers are making significant improvements in health care, recovery and return-to-work outcomes. They report that:
• 92 per cent of workers returned to work with no wage loss,
• 80 per cent of injured workers in the Work Transition Program successfully found employment.
• The percentage of workers still off the job after one year because of an illness or injury fell by 50 per cent since 2009,
• and the number of work injuries resulting in a chronic or permanent impairment has also dropped by 50 per cent.
The WSIB restated their commitment to working with stakeholders on improving fairness in funding the system. They will make further announcements on the long term outlook for funding and premium rates in the fall of 2015.