If you are an Ontario employer and pay WSIB premiums, you should know there are some changes coming for 2020 as to how they calculate the rate you pay. We’ve included an article below, but the WSIB site also has info on the upcoming changes.
Ontario’s Workplace Safety and Insurance Board is changing how premium rates are calculated for almost 300,000 registered businesses across the province.
The WSIB hasn’t changed its rate setting scheme for more than 20 years, says Pamela Steer, the board’s chief financial officer. “We really looked at how we could change the offering to our customers, such that it would make more sense for the modern day. So leveraging technology, big data and risk analytics in order to more transparently provide employers with their premium rates and also to base it more on the risk they present.”….