Ontario's Workplace Safety & Insurance Board (WSIB) has proposed a brand new system for funding our workers' compensation system that would change the way WSIB premiums are set and would eliminate the current process of giving surcharges and refunds.
This new system is said to come into effect by January 2019 and promises to be revenue neutral and the most significant change to the WSIB in decades. It would reduce the number of rate groups from over 200 to about 34 and eliminate the current NEER, CAD-7, and MAPP experience rating programs and replace them with one unified system. The updated reform proposal can be found here.
Here are some of the key points you need to know. (Remember that details are subject to change since the WSIB's consultation process is ongoing):
New ways to categorize employers:
Say goodbye to refunds and surcharges, say hello to 'risk bands':
(Possibly the) End of multiple rate groups for one company:
Exception for staffing agencies:
Expansion of experience window to 6 years:
What about the Fatal Claim Adjustment Policy or other punitive measures?
What about SIEF?
How will these changes be implemented?
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