WSIB Releases Preliminary Average Premium Rate for 2009



    TORONTO, June 12 /CNW/ - The Workplace Safety and Insurance Board (WSIB)
has announced the 2009 preliminary average premium rate for Schedule 1
employers. The WSIB Board of Directors' decision to keep the 2009 average
premium rate at $2.26 - unchanged from 2007 and 2008 - is based on careful
financial analysis, and an expectation that improvements will occur in health
and safety and return to work outcomes consistent with the WSIB's Road to Zero
and Prevention Strategies.
    The decision comes after the WSIB sought input from stakeholders on the
WSIB Funding Framework in February and March 2008. Discussions with employer
stakeholders concerning premium rates were reflected in a revised Funding
Framework, which was approved by the WSIB Board of Directors in April 2008.
    "The Funding Framework confirms the WSIB's commitment to ensuring the
long-term viability of the workplace safety and insurance system," said WSIB
Chair Steve Mahoney. "We are committed to ensuring the WSIB's financial
resources are dedicated to improving the well-being of workers and employers
throughout Ontario. Collaborative, aligned, and effective partnerships are
vital to promoting prevention and better health care and return to work
outcomes. Reaching and surpassing targets set out in the WSIB's Five Year
Strategic Plan 2008-2012, The Road to Zero, will ultimately result in the
reduction of the unfunded liability (UFL) and more stable and predictable
premium rates for employers."
    Based on the preliminary average rate, the WSIB has calculated
preliminary 2009 premium rates for all employer rate groups. These will be
posted on the WSIB website shortly. Later in June, the WSIB will present
information sessions on preliminary 2009 premium rates for employers and their
representatives. WSIB account representatives will also be personally
contacting those individual employers who are expected to see a significant
increase in their premium rate for 2009.
    The WSIB is releasing preliminary rates now to assist employers with
their financial forecasting and budgeting for next year. Approval of the final
average premium rate for 2009 is scheduled to take place at the WSIB Board of
Directors' meeting in late July.
    The preliminary WSIB maximum insurable earnings ceiling for 2009 is
$75,100. The final maximum insurable earnings ceiling will be set based on the
April preliminary average weekly earnings aggregate, which will be published
by Statistics Canada in June or July.
    Ontario's Workplace Safety and Insurance Board (WSIB) plays a key role in
the province's workplace health and safety system. The WSIB administers
no-fault workplace insurance for employers and their workers and is committed
to the elimination of workplace injuries and illnesses. The WSIB provides
disability benefits, monitors the quality of healthcare, and assists in early
and safe return to work for workers who are injured on the job or contract an
occupational disease.




For further information:

For further information: Christine Arnott, WSIB Media Relations, (416)
344-4202, Christine_arnott@wsib.on.ca


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