WSIB announces premium rate freeze
The global pandemic has created many unforeseen challenges for all of us and also some opportunities for much needed change. The Workplace Safety and Insurance Board (WSIB) is here to help. We have a prudent plan to hold premium rates at current levels while meeting the demands of the pandemic to focus on health and safety and improving digital services.
Helping business recover
We know every penny counts, even at the best of times. That’s why over the past four years we have reduced the average premium rate by 47.5%. Through strong financial management, we are well positioned to weather choppy economic waters. However, given the uncertainty of the pandemic, the responsible approach is to hold premium rates steady for 2021.
Offering this certainty, and avoiding rate increases, is one way we can contribute to easing the burden on business. This builds on the financial relief we offered businesses as the pandemic hit –allowing people to defer reporting and payment of premiums through August 2020. To help businesses continue to adjust and recover, repayment of premiums will not be required to begin before January 2021, and can be spread over six months without penalty or interest.
Commitment to health and safety
The pandemic continues to also shine a light on the need for strong health and safety programs in every workplace. Our new Health and Safety Excellence program can help businesses navigate these unprecedented challenges. We added more flexibility within the program and specific resources to help businesses safely resume operations and remain open, including risk assessments and emergency preparedness, mental health promotion, and sustainable roadmaps to recovery.
By enrolling in the Health and Safety Excellence program, businesses can earn premium rebates and other recognition. Implementation of a health and safety program in a workplace can also lead to a sustained reduction in injury rates that in turn can lead to lower premium rates.
That’s a win, win for everyone.
Making it easier to do business with us
Our new Health and Safety Excellence program is just one of the ways we’re making it easier to do business with us.
With enhancements to our online services, businesses can now get simpler clearances, reconcile premium payments, and upload claim-related documents all through our website.
This fall people will also be able to log in securely to use our customized rate calculator to see what impact improvements to their own health and safety experience could mean to their future premium rates.
Next year we will go one step further, creating the ability to see current claim status, latest payments, approved benefits and other information, and the ability to send secure messages – all on our website.
Delivering public value
The WSIB is prepared to meet the challenges of the COVID-19 pandemic. In fact, our resolve is stronger than ever to help businesses improve health and safety. Our determination to provide services where and how people want them is hardened. These actions, combined with our financial relief package and premium rate stabilitydemonstrate our commitment to serve Ontarians well and deliver meaningful and essential public value.