The board says it's their way of assisting employers in recovering from the pandemic
Workplace insurance costs for Ontario businesses will remain at a 20-year low after the Workplace Safety Insurance Board (WSIB) announced that it’s freezing premiums for 2023. This means that the average premium rate will stay at $1.30 for every $100 of insurable payroll.
Jeffery Lang, WSIB president and CEO, said this is their way of supporting Ontario businesses as they recover from the pandemic.
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"We are doing our part to support Ontario businesses as they recover from the pandemic while improving outcomes for people who have been injured to have a safe, timely and lasting return to work," said Lang. "I am very proud that we are able to hold premium rates to a 20-year low."
For 2023, the WSIB said it’s also providing smaller businesses enrolled in the Health and Safety Excellence programme double their rebates for every topic completed, in addition to $1,000 for implementing their health and safety plans.
"Some businesses could earn back their entire premium payment if they invest in health and safety improvements in the workplace," said Lang. "This is the biggest financial incentive we've ever had, and I hope a lot of small businesses take us up on this offer."
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According to the board, it’s working with the government’s other safety partners to deliver better outcomes for people who’re injured at work in order to improve health and safety practices in Ontario's workplaces.
"Our government is driving generational change at the WSIB to deliver for people injured at work while also keeping costs low for Ontario businesses," said labour minister Monte McNaughton. "Working together, we will be taking more action in the coming months to support safe employers and put workers and their families first."
