Have Your WSIB Premium Rates Reduced?
The WSIB reports that In 2017 there will be a five per cent reduction on the average premium rate for Schedule 1.
A five per cent rate reduction represents a premium decrease from a Schedule 1 average rate of $2.59 on every $100 of insurable payroll to an average of $2.46.
For 2017, rate groups that have shown positive performance will see a decrease of up to 14 per cent compared to 2016.
No rate groups will see an increase in their premium rates, with the exception of two affected by the new presumptive Post Traumatic Stress Disorder legislation- RG 845: Local Government Services and RG 590: Ambulance Services.
See the WSIB 2017 premium rates.