A great return on a safe investment

WCB-Alberta's average industry premium rate drops 7.6 per cent to $1.22

EDMONTON, Nov. 18 /CNW/ - Employers who invest in solid safety and disability management programs continue to achieve great returns on their investment through the lowest average WCB premium rate in Canada.

WCB-Alberta's lower 2011 average industry premium rate of $1.22 per $100 of insurable earnings means even more affordable coverage and protection for Alberta's workers.

"The 2011 rate reflects the trends we see and the work all partners have expended to maintain a workers' compensation system that is effective and stable," says Guy Kerr, president and CEO of WCB-Alberta. "Over the last couple of years, we have all experienced challenging times making it critically important that we continue to maintain stability in our pricing so that employer performance drives employer premium rates and balance this with the right level of protection for workers."

Performance is the key to WCB premium rates:

Premium base rate decreases			No change in premium base rate			Premium base rate increases
	68 per cent of employers will have a lower base rate			8 per cent maintain their base rate			24 per cent will have a higher base premium rate

In an effort to incent safer workplaces, WCB will apply a poor performance surcharge of 25 to 200 per cent on their premiums to just over 1,100 employers whose claims costs are more than 80 per cent higher than their industry average.

The great news is that 690 employers improved significantly enough to move completely out of a poor performance surcharge position for 2011.

WCB-Alberta's collaborations with partners and solid return-to-work results provide the best outcome for workers who want to get healthy and remain on the job. "WCB is surrounded by partners in this system who, regardless of diverse views, agree that it is important to help injured workers return to the job," says Kerr. "Over many years, we have developed strong provider networks, innovative care models, technology solutions and tools, and good client relationships to define and implement the right return-to-work plans for our clients." The result is strong performance for all stakeholders of the workers' compensation system.

The following WCB forecasts affected 2011 employer premium rate setting:

• The number of workers covered through WCB is predicted to increase to 1.81 million.
  
  
• The number of lost-time claims is expected to drop to 24,300.
  
  
• Workers' success is expected to remain strong at approximately 93 per cent achieving return to work with their employer or a new employer.

In addition to these favourable trends, workers' 2011 maximum insurable earnings (MIE) will increase to $82,800.

The Workers' Compensation Board (WCB) - Alberta is a not-for-profit organization legislated to administer the workers' compensation system for the province. Through the payment of premiums, 137,000 employers fund this no-fault system to provide compensation for workplace injuries and occupational diseases to over 1.73 million workers.

For further information:

Media contact:
Jennifer Dagsvik
780-717-5855
[email protected]